Scandalous Foods is an all-in-one destination focused on establishing a new market for post-meal impulse purchases of Indian sweets in the restaurant and catering sector, has secured Rs 1.6 Crore in its ongoing pre-seed funding phase.
The backing comes from Anthill Angel Fund, EvolveX, Value360, and Sapphireink Ventures, with angel investors like Sagar Daryani, the founder of Wow! Momo, Kamnaa Aggrawal, Vikas Aggarwal, the Co-founder of We Founder Circle and former executive of IndiaMart, and the renowned Chef Harpal Singh Sokhi.
The firm intends to allocate a substantial sum towards enlarging its Nasik production facility and implementing automation.
Additionally, the funding will support expanding its current 250 touchpoints to 2000 within a year.
Their strategy includes broadening institutional sales across more than five cities and intensifying operations in Mumbai, Thane, and Nasik. Moreover, they aim to invest in product innovation, creating additional Indian desserts with extended shelf life and delectable flavors.
As a B2B enterprise, Scandalous Foods aims to target the HoReCa industry.
Utilizing its range of classic Indian sweets, Scandalous Foods has entered a $20 Billion market niche focused on post-meal impulse purchases for traditional mithais.
Expanding further, the brand has introduced individual servings of mithais in restaurants and hotels. Their future direction involves venturing into ethnic bars, cookies, cupcakes, and ultimately, single-serve mithai sachets.
“We have embarked on an exciting journey to revolutionize the culinary landscape. With a fresh infusion of funds, we will expand our production facility and embrace automation for efficiency. Our commitment to innovation is showcased in new product development, catering to diverse tastes. We're planning to break new ground by entering wedding and corporate catering channels, extending our reach to smaller QSRs. Fueled by B2B2C aspirations, we're piloting a 'wholesale sweet shop' under our brand. This funding empowers us to sweeten moments, one delectable venture at a time." said Sanket S, CEO & CPO, Scandalous Foods.
Within a year of establishment, Scandalous Foods accomplished an impressive feat by selling close to 1.4 million pieces of sweets.
They debunk the notion that frozen food compromises taste, highlighting that when handled properly, frozen items maintain 97% of their freshness, texture, and flavor, presenting a secure option. Catering to the HoReCa industry, the company tackles persistent issues of wastage and theft by offering sweets with an extensive shelf life of six months.
Acknowledging the untapped potential of desserts on restaurant menus hindered by the need for skilled labor, Scandalous Foods provides a seamless solution. Their sweets, designed for zero wastage, only require thawing and serving to customers, eliminating extra capital and operational costs.
With competitive pricing, restaurants can markup by 3x, ensuring substantial gross margins. The company's success unfolds through consistent month-over-month growth, witnessing a remarkable 10x surge in both customer base and monthly orders across three quarters.
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