Amicus invests $10m in India's Wonderchef

Wonderchef will use the new capital to set up an integrated manufacturing, assembly and warehousing facility and add new product segments. The company also plans to deepen its presence in India by expanding its distribution network and investing in brand building.

Founded in 2009 by celebrity chef Sanjeev Kapoor and serial entrepreneur Ravi Saxena, Wonderchef manufactures a range of cookware and small kitchen appliances, including juicers, ovens, air fryers and toasters. The company markets its products through its own chain of retail stores and on its website, in addition to department stores, e-commerce websites and a direct marketing network of 50,000 salespeople in India.

“Wonderchef has been able to build a strong brand in the cookware and kitchen appliance category within a short period of time,” said Mahesh Parasuraman, partner at Amicus, in a statement. “We believe the company is well positioned to capitalize on the industry tailwinds given its differentiated product portfolio, strong distribution network and great leadership team led by Ravi.”

This is Amicus’ second investment from its debut fund, following a $9.3 million commitment last year to online insurance aggregator RenewBuy. The firm was founded in 2015 by former executives from the Carlyle Group and India Value Fund Advisors, now called True North. It provides growth capital to companies in the healthcare, technology and business services, financial services, consumer and leisure industries, with a claimed INR6 billion in assets under management.

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• Topics
• South Asia
• Consumer
• Industrials
• Expansion
• India
• manufacturing
• Growth capital