Wingreens Farms raises Rs 125 cr from responsAbility Investments, Sequoia India

The company has made its products available in 140 cities in the country and wants to take this number to 200.
Wingreens Farms raises Rs 125 cr from responsAbility Investments, Sequoia India
Wingreens Farms raises Rs 125 cr from responsAbility Investments, Sequoia India
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Wingreens Farms Pvt Ltd is a Gurugram headquartered startup run by a woman entrepreneur and is into manufacturing and selling dips, sauces, spreads and bakery products. The company has now raised as part of its Series B round of funding, an amount of ₹125 crore. The investors are responsAibility Investments and Sequoia Capital. responsAibility Investments is a Zurich, Switzerland based private equity firm while Sequoia is an existing investor in Wingreens.

The company has developed a vast network for reaching its products to the end customers. It has thus made its products available in 140 cities in the country and wants to take this number to 200.

There are over 1,300 modern trade stores (supermarkets and departmental stores) and 9,000 general trading stores that stock the products of Wingreens. Again, the ambitious plan the startup has is to scale up these numbers to 2,000 and 100,000 respectively in the next one year. In terms of the SKUs (stock keeping unit) handled, there are 180 products and their variants currently being sold. Wingreens expects to add 40 more to this number. The infrastructure required for handling the marketing activities will be put in place in the days ahead. If the company has to make acquisitions to achieve these targets, it will be open to such decisions as well.

Being a venture driven by a female promoter Anju Srivastava (the other promoter is Arjun Srivastava), Wingreens has laid emphasis on employing more women in its manufacturing facilities and in the stores they run. There are over 300 women on their rolls. With their investment, responsAibility Investments gets to appoint a representative from their side on the board of Wingreens.

The Swiss investor has expressed faith in the management of the startup and is hoping to see it grow. The promoters are hopeful that their efforts of the past eight years will help Wingreens catapult to a Rs 500 crore turnover company in the nest 3-4 years.

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