Adukale, a prominent direct-to-consumer (D2C) snack and instant food manufacturer, has successfully raised Rs. 11 crores in a recent funding round led by venture fund Force Ventures. Founded in 2009, Adukale specializes in offering a diverse range of snacks and instant food ingredients tailored for popular Indian dishes such as dosa, idli, and poha. The infusion of capital will primarily fuel the expansion of Adukale’s offline footprint across various locations.
Chief Growth Officer Vinay Gopinath shared that the company intends to utilize the funds to bolster its offline presence, reinforcing its commitment to reaching a wider audience. With a strong focus on enhancing accessibility, Adukale aims to extend its reach beyond its current market scope.
Under the leadership of Chief Executive Bharat Kaushik, Adukale has already established a significant presence, boasting over 20 exclusive stores and a distribution network encompassing more than 1,200 supermarkets and retail outlets nationwide. Kaushik emphasized the company’s dedication to providing convenient access to its products while maintaining a robust offline and online presence.
Looking ahead, Adukale has ambitious growth plans, including the opening of 12 new stores within the next 14 months and expanding its retail presence to 2,500 supermarkets and retail stores. Notably, the recent funding round attracted investment from notable backers, including Anya Ventures, Accel partner Subrata Mitra, and Radhika Pandit, the spouse of renowned Kannada actor Yash.
Adukale’s revenue model predominantly relies on offline sales channels, which currently account for 80% of its total sales volume. However, the company also leverages online platforms such as its own website, BigBasket, Swiggy Instamart, and Zepto to cater to digital-savvy consumers. Gopinath highlighted the importance of maintaining a balanced mix of offline and online channels for long-term profitability and sustained growth.
With monthly recurring revenue of Rs. 2 crores, Adukale aims to achieve significant revenue growth in the fiscal year 2025. The company is currently profitable at a contribution margin level and is striving to achieve profitability at the earnings before interest, taxes, depreciation, and amortization (EBITDA) level within the next 12-18 months.