MasterChow, a ready-to-cook Asian cuisine brand, today announced that it has raised $1.2 million in funding led by Anicut Capital, an Indian investment firm managing alternative assets. The round also saw participation from WEH ventures, Fluid ventures among other prominent D2C founders and angel investors
MasterChow plans to deploy the funds to launch innovative new product categories while delivering a quality experience to its customers. They also aim to introduce a wider variety of flavors and plans to foray into the ready-to-eat segment to attract the India’s young consumers. The brand wants to fortify their distribution network while maintaining a strong focus on their own D2C channel across India. They're also looking to hire for mid-senior level positions to further optimize their e-comm channels and go deeper with engaging their core customer via a robust content strategy.
On the funding, Sidhanth Madan, Co-Founder, MasterChow said, “We started MasterChow in 2020 with a mission to bring quality ready-to-cook Asian cuisine to every Indian household. Asian cuisine is the second most loved cuisine in India but the lack of innovation and clean label products in the space was shocking. We come into existence to bridge this gap for the country with an emphasis on superior ingredients and convenience in preparing a great meal at home.”
He further went on saying, “We are highly enthusiastic about closing the funding at this juncture of our growth phase and thrilled to utilize the funds towards the expansion of our existing operations and launch of new and exciting categories. We are delighted to have Anicut Capital LLP with us. They have established themselves as a founders’ first fund. Their conviction not just within the category but in MasterChow and the speed at which the round was structured and closed is highly impressive. Anicut Capital LLP has the right DNA, tremendous insight, and proven history to help grow challenger FMCG brands like us.”
Since inception in 2020, MasterChow has served over half a million families all across India. The brand has set up a state-of-the-art manufacturing facility in Delhi for complete quality control which can service 15,000 orders a day/ to meet the growing demand online. With a strong production and logistics network, the brand plans to grow 10x in the coming year. Currently, they service 20k+ pincodes pan India and witness strong demand from Tier 1 & 2 cities. They're available on marketplaces such as Amazon, BigBasket, BlinkIt, Instamart etc. and plan to expand further into the quick commerce segment. Last year, the brand raised seed funding of Rs 3.5 cr led by WEH Ventures.
Commenting on this development, Ashvin Chadha, Founding Partner, Anicut Capital said, “The immense potential of the RTC segment coupled with the vision of MasterChow will surely disrupt the industry in the coming years. The sheer ability of MasterChow to bring restaurant quality Asian cuisine to the doorsteps of Indian households will empower them to lead the market for this segment in the next 3-5 years.”