SAIF in $6m round for India's Chef's Basket

Haresh Chawla, a partner at India Value Fund Advisors, also took part in the round in a personal capacity. Chef's Basket will use the capital to expand its product lines and distribution channels. Vishal Sood, a partner at SAIF, will also join the board at Fizzy Foodlabs, according to a statement.

Chef's Basket produces a range of ready-to-cook Mexican, Thai, Italian and Asian dishes, and sells them in national supermarket chains, as well as through online portals such as Flipkart and Amazon, and through hyperlocal services like Grofers and BigBasket. The company plans to introduce a range of preservative-free products and a line of pasta sauces.

Several companies have seen opportunity in India's packaged food space, which is largely aimed at the country's growing numbers of working couples who have little time to prepare meals at home. Some of Chef's Basket's competitors include iChef, which has raised funds from Springboard Ventures, and InnerChef, which is backed by the founders of Paytm and Redbus, among other entrepreneurs.

SAIF's previous experience in this food convenience movement has mostly involved food delivery platforms. In July it joined Norwest Venture Partners and Accel Partners for a $16.5 million Series B round in Bangalore-based Swiggy, while in September it participated in a $36 million Series B round for PepperTap, along with Sequoia Capital and Snapdeal.

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• Topics
• South Asia
• Consumer
• Expansion
• Venture
• India
• SAIF Partners
• Consumer
• Growth capital
• Venture