Mirchi.com Plans To Raise Rs 50 Cr, To Fund Market Expansion

Mirchi.com, a unique marketplace for traditional sweets and snacks, on Monday said it is looking to raise about Rs 50 crore from strategic investors to fund its expansion.

The company, brainchild of Poornima Mital, was started in 2018 with an investment of around Rs 2 crore and lists big and small sellers on its online platform. Mirchi.com will use the funding to invest in marketing activities, including running commercials on TV and print media to increase brand awareness, according to a statement. "The company is looking at scaling up to annual revenue of Rs 5 crore with an average shipment count of 500 per day.

The company will also venture into international markets, specifically the US and Canada, where there is a sizeable Indian diaspora who are nostalgic about their favourite treats from India," Mital said. At present, Mirchi.com has 800 large, medium, small and home sellers from all over India, who list their sweets, namkeens, pickles, cookies and other gourmet products on the portal.

(PTI)