Habanero Foods reported a 170% YoY growth in revenue in FY’21, powered by ecommerce and its expanding footprint.
Habanero Foods, a leading Indian manufacturer of ready-to-cook sauces, salsa, and tortilla wraps – today announced that it has raised funds from BlackSoil Capital. The funds will be deployed towards expanding the company’s geographic footprint, broadening its product offering, and strengthening its direct-to-consumer presence across the country. The company aims to touch a revenue of INR 200cr (or USD 28 million) over the next six years.
Habanero Foods reported a 170% YoY growth in revenue in FY’21, powered by ecommerce and its expanding footprint. The funding from BlackSoil Capital will be used to fuel growth and expansion, deepen presence in stores across India, build team capabilities and invest in product development and innovation.
Habanero Foods manufactures a wide range of ready to cook sauces, salsa, and tortilla wraps that are full-flavoured, vegan and gluten free – helping consumers make a healthy yet flavoursome choice. The USP is to offer international quality products at affordable prices. Habanero Foods is the brainchild of Industry veteran Griffith David, (Ex Intel & Yahoo) who also runs the most successful Subway franchise in India.
Supporting local communities is one of the company’s core values. Habanero’s team members all hail from the surrounding districts and villages/towns. The brand sources all its ingredients from local farms, thereby supporting local economies and communities. Additionally, the brand is committed to creating a sustainable future, and refrains from using plastic – all sauces are packaged in recyclable glass jars, and its ready to cook wraps in recyclable plastic.
“Indian consumers have a discerning taste for global cuisine. They continuously seek new flavours and spices for the palate, and millennials are leading the way – looking for bold, spicy and adventurous characteristics in ingredients. That is where our products come in – offering international flavours at affordable prices,” said Griffith David, Founder and MD, Habanero Foods.
He further added, “We witnessed a phenomenal spike in our revenues fuelled by consumers embracing digital channels in their daily lives. We will be launching new products over the next few months. Our aim is to make Habanero the household name for those looking to recreate the restaurant experience at home.”
Ankur Bansal, Co-founder and Director, BlackSoil said “Their unique business positioning and ability to survive through adversities like COVID is what made Habanero Foods an attractive proposition for BlackSoil. We are optimistic that our debt capital will help take their businesses to the next level and we will continue to support them throughout their journey.”
Habanero’s products are available in over 1200 traditional and modern retail stores across 19 cities in Hyderabad, Chennai, Bangalore, Mysore, Mangalore, Goa, Coimbatore, Trivandrum, Pune, Mumbai, Vijayawada, Vellore, Coimbatore, Guwahati, Srinagar, Pondicherry, Kochi, Delhi and Kolkata.
Source: Business World