City based startup Timla Foods raises seed funding through Kae Cap
Though the year of 2016 may be coming to end, yet the success ladder of startups seems to see no end nor do the entrepreneurs want to sit in peace until they have made it really big – be it in any sector. Just recently, Timla foods came out in the open to officially announce their success of receiving seed funding from Kae Cap – an early stage investment firm based out of Mumbai.
Timla Food has raised this funding under their brand “PopiCorn” – which makes ready to eat popcorn. At Popicorn, they make great tasting wholesome snacks for every age and lifestyle. PopiCorn’s popcorn is ready to eat, 100% natural, GMO free and made of whole grain.
At present, this brand is available in all leading super market stores including Ratnadeep, Heritage Fresh, Ghanshyam and Karachi bakery as well. This brand was introduced in the beginning of this year, and in such a short span itself, the brand has recorded over 4 lakh units of popcorn sale.
The primary aim of this company is to make healthy ready-to-eat snacks,” said Prashant Gowriraju, cofounder at Timla Foods. “Our product doesn’t contain any preservative or GMOs.” He continues by saying that the seed fund amount will be used to enhance the capacity of production and expansion of the operations of the brand across the nation. “We realised that the market gap is large and PopiCorn received positive response in the Telangana market,” said Navin Honagudi, investment director at Kae Capital. “This is what prompted us to invest in this company.”
According to the research of the investment company, the ready-to-eat segment is a large market with scope worth Rs 20,000 crore. Timla foods is looking forward to expansion in Bengaluru followed by Mumbai. They were bootstrapped when they kicked off in 2016 and this is their first seed funding that they have received from outside.
Congratulations team – hope we get to eat more of this healthy yet tasty popcorn. You are all doing great, and hope to you see doing even better and achieve all those goals that you have set for the startup.
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