New Delhi: Healthy Snacking Brand Wonderland Foods on Thursday announced to raise Rs 140 crore in the first Round of funding for its next phase of growth and scale its presence in India's branded dry fruits and nuts market.This institutional funding round was led by Asha Ventures and British International Investments (BII), the UK's development finance institution and impact investor, said a statement from the NCR-based healthy snacking brand.
"The investment will help the company set up a green processing facility and generate 1,000+ formal jobs primarily for women," it added.Wonderland has scaled over the last few years, and its products have a prominent presence across modern trade chains and top e-commerce platforms, including Amazon, Flipkart, Swiggy Instamart, Blinkit, and Zepto.
"We are proud to partner with the Government of Uttar Pradesh to set up a Rs 250 crore greenfield nuts and dry fruits processing unit at Greater Noida, which will create employment opportunities for over 1,000 women and further strengthen India's food processing ecosystem," its founder, Rakesh Gupta and Managing Director Anubhav Gupta said in the statement.
The healthy snacking category is experiencing strong consumer tailwinds, and Wonderland is well-placed to lead the organised shift from loose, unbranded products to trusted, hygienic formats, said Pramod Bhasin and Vikram Gandhi, founding partners at Asha Ventures.
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