Adukale, a FMCG brand representing Karnataka’s culinary traditions, has announced pre-series A funding of Rs 11 crore, led by Force Ventures, backed by marquee investors like Aanya Ventures, Subrata Mitra, and Radhika Pandit, among others.
With this funding, the company plans to scale the outlets, expand the distribution network to be the market leader in traditional snacks, and invest further in manufacturing and R&D for the future line-up of products.
"At Adukale, our mission transcends mere culinary offerings; we aspire to encapsulate the essence of Karnataka's diverse culinary tapestry in every dish we craft, striving towards a position of leadership," said Bharat Kaushik, Director and CEO of Adukale, reflecting on the brand's potential and journey.
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"Our collaboration with Adukale signifies a shared vision of being the market leader in the traditional snacks category by 2025 and being the custodians of Karnataka's culinary heritage and showcasing it on a global stage," said Karthik Bhat from Force Ventures, reflecting on the brand's global impact.
Vinay Gopinath, Chief Growth Officer of Adukale, said, “The funding secured will play a vital role in expanding the channel presence of the brand, facilitating greater visibility and engagement with our target audience."
Adukale, a FMCG brand spread across 20 Experience Stores in Bangalore and Mysore, has a robust distribution network in 1000+ general and modern trade outlets and is available on all leading e-commerce and quick commerce platforms. In February, the company opened its experiential store, Old Bangalore Cafe. Old Bangalore Cafe is a quick-service restaurant that people can visit and have an experience of the brand in a very casual way. Speaking to the Economic Times in March this year, Kaushik said, “The plan is to be the number one south Indian Karnataka snack player in the market.”
Talking about the company’s expansion plan to the Economic Times, Kaushik said that they intend to occupy every part of Karnataka in the next 12 months. He said, “The plan is to be in about 2000 stores in about six months' time.”
Snacks have always been India’s favorite. A report published by the IMARC Group says that the Indian snack market is expected to reach Rs 95,521.8 crore by 2032. It was valued at Rs 42,694.9 crore in 2023.
