Noida-based Nurture Well raises Rs 50 crore from India Inflection Opportunity Fund

Noida-based Nurture Well Foods Private Limited, a manufacturer of biscuits and cookies, has announced the successful closure of a private placement round. 

The company has secured an investment of Rs 50 crore from the India Inflection Opportunity Fund (IIOF).

The investment marks IIOF's sixth investment in the last six months, focusing on profitable companies in the mid-market segment.

What Does Nurture Well Offer?

Founded in 2023 by Sanidhya Garg, Nurture Well specializes in premium cookies and biscuits under the brands "RICHLITE," "FUNTREAT," and "CANBERRA".

The product range includes butter-rich and centre-filled cookies, catering to a variety of taste preferences. The company boasts a state-of-the-art facility in Rajasthan with a capacity of 32,200 MTPA and additional manufacturing tie-ups in Malaysia.

Leadership comments

Sanidhya Garg, Director of Nurture Well, expressed optimism about the partnership. "By leveraging our market expertise alongside IIOF's substantial financial resources, we are strategically positioned to enhance shareholder value and foster sustainable growth. This partnership lays a strong foundation for generating long-term economic value and securing a prosperous future for all stakeholders involved," he said.

Saurabh Goel, another Director at Nurture Well, emphasized the company's vision: "Our vision is to be a leading and innovative biscuit manufacturing company, recognized globally for our exceptional quality, diverse product range, and commitment to customer satisfaction."

Madhu Lunawat, CIO of India Inflection Opportunity Fund, highlighted the potential in the FMCG industry. “We are thrilled with our investment in Nurture Well, a standout in the multi-category biscuit segment. The FMCG industry holds immense potential, and we are confident that Nurture Well’s dedication to quality and innovation positions it perfectly to capitalise on this growth,” Lunawat stated.

Nurture Well's market presence?

Nurture Well has a robust distribution network comprising over 150 business partners. It spans several North Indian states, including Uttar Pradesh, Himachal Pradesh, Punjab, Rajasthan, Uttarakhand, Delhi-NCR, and Jammu and Kashmir.

Additionally, the company has made inroads into international markets such as the UAE, Kuwait, Somalia, Tanzania, Afghanistan, Congo, Kenya, Rwanda, and Seychelles. The products are available through both retail outlets and online portals.

According to Technopak analysis, the Indian biscuits and bakery retail market is valued at Rs 570 billion in FY 2023 and is expected to grow at 10.5% CAGR over the next three years to reach around Rs 770 billion by FY 2026.