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Wholsum Foods, the parent company of Slurrp Farm, is looking at doubling its revenues in FY25 with a focus on expansion in new categories. The start-up, which is backed by investors such as Fireside Ventures and Investment Corporation of Dubai, launched instant noodles and millet cookies on Wednesday. Actor Anushka Sharma is an investor; she also endorses the brand.
Shauravi Malik, Co-founder of Wholsum Foods told businessline, “We have doubled our revenues every year in the past five years. We expect to continue with this growth momentum. We ended FY24 with revenues of about ₹80 crore. We are currently at an annualised run rate of ₹110 crore. We expect to double our revenues to about ₹168 crore in FY25.”
The start-up was founded in 2016 by Shauravi Malik and Meghana Naryan. Its flagship brand, Slurrp Farm, aims to provide healthy, natural, and millet-based food options for young children. The company offers a range of products, including pancakes, pasta, and cereals. The company also owns the super grain brand Mille, which is targeted at adult consumers.
The company is betting on consumers increasingly seeking healthier food options. “India’s health food market is growing at three times the global average, and is expected to grow to about $30 billion by 2026, as per some estimates. This offers a huge growth opportunity for brands like us. After the success of Slurrp Farm, we decided to launch Mille, which aims to bring millets to the centre of the plate for adults. We already have about 17 products under this brand including breakfast pancakes, breakfast cereals, high-protien pasta and gluten free grains; we will be launching six new products in the two months.”
The company has so far raised about $17 million in funding from investors. Besides e-commerce and quick-commerce platforms, the company’s products are sold in over 5,000 modern trade and general trade stores. “We want to deepen our offline distribution, and over the next two years will expand it to about 10,000-15,000 outlets. We expect offline channel to become bigger for us over the next five years,” she added.
Last month, the company also joined Open Network for Digital Commerce to widen its reach to tier-1 and tier-2 cities.
“We design our products based on the feedback of our consumers. We have been looking at offering parents options that help in making mealtimes not just tasty but also healthy. That’s how products like our Instant Noodles and Millet Cookies have been launched to help make everyday decisions just a little bit easier for parents,” Malik stated.
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Published on September 5, 2024
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