The Indian packaged food market is witnessing a "heat-and-eat" revolution. Validating this shift, Alimento Agro Foods Pvt Ltd, the parent company behind popular instant food brands Meal of the Moment (MOM) and Gimi Gimi, has raised ₹52 crore (approx. $5.5 million) in its Series A funding round.
The round was led by IvyCap Ventures, which invested ₹50 crore. Demonstrating strong conviction in their own growth story, the founders also infused an additional ₹2 crore into the business.
Deal Intelligence: The Breakdown
From Bootstrapped to VC-Backed
Founded in early 2017 by the husband-wife duo Prateek and Mugdha Bhagchandka, Alimento has grown steadily without external capital until now. This marks their first institutional raise, signaling a shift from organic growth to aggressive scaling.
The company operates two distinct brands:
- MOM (Meal of the Moment): Focuses on Indian comfort food like Poha, Upma, and Dal Chawal in a ready-to-eat format.
- Gimi Gimi: Taps into the explosive "K-Wave" trend with a variety of Korean noodles, catering to Gen Z's evolving palate.
Capital Allocation Strategy
The fresh capital will be deployed to expand manufacturing capabilities and strengthen their nationwide distribution network. While the brands are already available on e-commerce and quick commerce platforms (like Blinkit/Zepto), the funding will likely push their offline retail footprint deeper into Tier 1 and Tier 2 cities.
"MOM and Gimi Gimi reflect a unique blend of consumer insight, product innovation, and cultural relevance."
— Vikram Gupta, Founder & Managing Partner, IvyCap Ventures
FounderStory Takeaway
The success of Gimi Gimi alongside MOM highlights a crucial trend: Indian consumers want global flavors with local convenience. By securing IvyCap's backing, Alimento is poised to challenge giants like Nestle (Maggi) and ITC (Yippee) in the premium noodle segment, while dominating the niche RTE breakfast market.