Spice Brand Zoff Secures Rs 40 Crore in Funding from JM Financial India Growth Fund III

Mumbai-based spice brand Zoff has announced that it has secured Rs 40 crore ($4.8 million) in funding from JM Financial Private Equity through its India Growth Fund III. This investment marks the second major funding round for the brand, following its earlier appearance on Shark Tank India, where it secured funding from boAt’s co-founder Aman Gupta.

The fresh funds will be utilized by Zoff to launch new products, including ready-to-cook offerings, condiments, cooking pastes, and seasoning kits. Additionally, the brand plans to strengthen its offline distribution network through general trade, modern trade channels, and other retail outlets.

Founded in 2018 by Akash and Ashish Agrawal, Zoff specializes in high-quality spices and offers a curated selection of spices, dry fruits, and whole food products. The brand prides itself on utilizing cold grinding technology, which preserves the flavor and aroma of raw spices, and its multi-layered ziplock packaging that keeps the spices fresh for an extended period.

Zoff has established a strong online presence through its focus on quick commerce and has successfully transformed the empowered spices market in a short period, registering a profitable revenue over the years. The brand is now looking to expand its reach into tier-II and tier-III cities.

The company competed with established brands like Everest and MDH to secure the funding and believes that this investment will help it to penetrate deeper into the Indian market and establish itself as a major player in the spices segment.

Key Highlights:

• Zoff secured Rs 40 crore ($4.8 million) in funding from JM Financial Private Equity
• The brand plans to launch new products, including ready-to-cook offerings and condiments
• Zoff will strengthen its offline distribution network through general trade, modern trade channels, and other retail outlets
• The brand’s growth is marked by its successful online presence through quick commerce and empowered spices market

This move is expected to strengthen Zoff’s position in the competitive spices market, which is dominated by established brands like Everest and MDH. With its new funding, Zoff is well-positioned to expand its reach and offerings, making it a strong contender in the segment.