Vegandukan has raised USD 325,000 as a part of its seed funding from USA-based Sunlight Capital Holdings LLC, an official statement highlighted.
The statement also mentioned that the fresh infusion of funds will be used to create a better user experience for shopping and market growth and the company goal is to open centres in other cities, to reduce the delivery time for the customers. The company is planning to move to Delhi and Mumbai in the coming year and is focussing on further enhancing the three main areas of business, i.e., providing a rich shopping experience, an efficient supply chain, and broader choices.
Shyam Patel, Sunlight Capital Holdings speaking on the funding round, said, “We are delighted to be associated with Vegandukan as it has a very promising future owing to its unique ideology and increasing acceptance of conscious lifestyle. We are bullish on sustainability and tech-driven businesses. The market for plant-based dairy and meat has grown 20% YOY, and in the next ten years, this can lead to an INR 8000-13000 Crore market. As a result, this is a step in the right direction that will only amplify India’s vegan market. Lastly, our goal is to become the one-stop-shop for all plant-based needs.”
Sagar N Mehta, Founder, Vegandukan, also commented on this an added, “Our short and long term plan is to make vegan food and products as easily available as the traditional products. Basically, our efforts are to simplify choosing an animal dependence free life, and as a society, we can move there faster when it’s convenient.” In the next five years, Vegandukan aims to create an even bigger catalogue of cruelty-free products and efficient delivery capacities. The brand already has a vast collection of such products, and the objective is also to become the torchbearer for the vegan lifestyle with various partner brands in India.”