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50 hot startups 2017

Swiss firm, Sequoia back sauce maker

In total, the Gurgaon-based company has raised Rs 157 crore.
BENGALURU: Wingreens, which sells products like garlic dips, healthy chips, spreads and sauces, has raised Rs 125 crore from Switzerland's responsAbility Investments along with existing investor Sequoia Capital.

Wingreens, which initially started as a farming project in 2008, turned into its current avatar in 2011 when it started selling dips. Since then, the company has expanded into multiple segments like sauces and hummus. In total, the Gurgaon-based company has raised Rs 157 crore.

Started by the husband-wife duo of Anju and Arjun Srivastava, the company now plans to expand its distribution network in the next year and invest in its back-end and front-end infrastructure. It sells products across offline and online stores.

"We are present in about 10,000 stores now and the aim is to expand this to 1,00,000 stores. Less than 10% of our sales are from online channels, but we see an emerging trend of online orders from the non-metro markets," said Anju. Wingreens has a monthly turnover of Rs 10-12 crore, she added.

Over the past 12-18 months, brands like Veeba have also come up in this space. As the trend of consumers opting for healthier products catches on, emerging brands like Wingreens are aiming to tap into this demand.
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