Spice brand Zoff has successfully raised Rs 40 crore (approximately $4.8 million) in its Series A funding round from JM Financial Private Equity, facilitated through the JM Financial India Growth Fund III. This new capital injection marks a significant milestone for the Raipur-based company, steadily gaining traction in the Indian spices market.
Founded in 2018 by brothers Akash and Ashish Agrawal, Zoff specializes in offering a curated range of high-quality spices, dry fruits, and whole food products. The brand is distinguished by its commitment to providing ingredients that enhance the taste of culinary creations and offer health benefits. The company’s advanced manufacturing processes, including cold grinding technology, help preserve the natural flavour and aroma of raw spices. Moreover, Zoff’s multi-layered ziplock packaging ensures the longevity of freshness, setting it apart in the market.
Zoff plans to use the new funds to expand its product portfolio, introducing new categories such as ready-to-cook meals, condiments, cooking pastes, and seasoning kits. The company also aims to strengthen its offline distribution channels by increasing its presence in general trade, modern trade outlets, and other retail networks across the country. This strategic expansion will be particularly focused on penetrating deeper into tier-II and tier-III cities.
Zoff first gained notable attention after securing funding on Shark Tank India from Aman Gupta, the co-founder of boAt. Since then, the brand has built a robust online presence, leveraging quick commerce channels to rapidly scale in the spices market. Competing with industry giants like Everest and MDH, Zoff has managed to register profitable revenue growth in a relatively short span, solidifying its position as a formidable player in the sector.
With this latest round of funding, Zoff is poised for substantial growth, aiming to become a household name in the Indian spices and culinary ingredients market.
