Among other angel investors that participated in the round include serial entrepreneur R Ramaraj, whose last stint was at Sify as the Cofounder & CEO.
The funds raised will be used to expand sales and distribution across other metro cities, along with strengthening the back-end supply chain.
GO DESi was founded by former ITC Limited executive Vinay Kothari in 2017. The confectionery brand was incubated at IIM Bangalore, part of the Upaya Agri business cohort, part of Wadhwani Foundation FMCG Accelerator.
GO DESi works with farmer cooperatives, SHGs and other rural businesses to make their products retail shelf ready and then plug them into its distribution network, under the brand.
Talking about the investment, Sushanto Mitra, CEO of Lead Angels Network, said, “What impressed us most about GO DESi is their ability to retain the classical Indian flavours with their new line of products such as Imli Pop and Jackfruit bars which undeniably satiate the Indian taste buds. They also understand and realize the importance of retail strategy which has been a crucial aspect of India’s consumer growth story.”
The brand offers regional flavoured food products like Jackfruit bars, Banana Bites, Lemon Chaat, and Amla Bites.
In August 2018, packaged food startup Sattviko raised an undisclosed amount of strategic funding, in order to expand overseas. Also in the same month, Timla Foods raised ₹13.7 crore in debt funding.
Earlier in July 2018, The Mumum Co raised ₹3.4 crore from a clutch of angel investors.