Pan-Asian foods and beverages brand Moi Soi, owned by Ceres Foods, has raised its first institutional funding round, with GVFL and Wipro Consumer Ventures co-investing in the brand, people directly aware of the development said.
The two investors have acquired about 17% in the business, with founder Deb Mukherjee continuing to hold the majority stake in Moi Soi.
While the Ahmedabad-based GVFL which invests in early-stage and growth-stage startups, Wipro Consumer Care and Lighting has invested in a series of consumer-focused brands through its venture capital arm Wipro Consumer Care Ventures across personal care, food, beauty and wellness, including in Goofy Tails, Anveshan, Moom Health and Lets Try.
Moi Soi, which sells sauces, chilli oils, noodles, ready-to-eat curries and Asian beverages, plans to build its portfolio beyond across multiple cuisines and formats, such as Korean, Japanese, Thai and Vietnamese, as well as build it across quick commerce platforms and large modern trade channels, sources said. “The bootstrapped brand is doing over Rs 6 crore a month in net sales and delivers to over 2,000-plus pin codes across 250 cities in India,” one of the executives said.
The Asian-cuisine focused Moi Soi was founded in October 2021.
The two investors have acquired about 17% in the business, with founder Deb Mukherjee continuing to hold the majority stake in Moi Soi.
While the Ahmedabad-based GVFL which invests in early-stage and growth-stage startups, Wipro Consumer Care and Lighting has invested in a series of consumer-focused brands through its venture capital arm Wipro Consumer Care Ventures across personal care, food, beauty and wellness, including in Goofy Tails, Anveshan, Moom Health and Lets Try.
Moi Soi, which sells sauces, chilli oils, noodles, ready-to-eat curries and Asian beverages, plans to build its portfolio beyond across multiple cuisines and formats, such as Korean, Japanese, Thai and Vietnamese, as well as build it across quick commerce platforms and large modern trade channels, sources said. “The bootstrapped brand is doing over Rs 6 crore a month in net sales and delivers to over 2,000-plus pin codes across 250 cities in India,” one of the executives said.
The Asian-cuisine focused Moi Soi was founded in October 2021.
