Companies

Wonderchef Home Appliances raises ₹150 crore in a round led by Sixth Sense Ventures

Our Bureau New Delhi | Updated on November 16, 2021

Wonderchef MD Ravi Saxena and celebrity chef Sanjeev Kapoor

Primary capital raised in this round will be used for strengthening online presence and distribution network

Wonderchef Home Appliances said it has raised about ₹ 150 crore ($ 20 million) in a round led by Sixth Sense Ventures. Other investors and HNIs including the Godrej Family office and Malpani Group, also participated in this round.

This was a combination of primary and secondary investment. Mauritius-based investment firm Capvent, which had invested in Wonderchef in 2015 took an exit in this round, the company added.

Sixth Sense Ventures has done the investment from its third fund Sixth Sense Ventures (SSIO III). SSIO-III and affiliates have invested ₹90 crore in this transaction, the statement added.

“Kitchen appliances segment in India is expected to grow in double digits driven by growing urbanization, increasing disposable incomes, and changing lifestyle. We are excited about the opportunity to partner with Ravi, Chef Sanjeev Kapoor and team Wonderchef towards building a leading kitchen appliances business in India,” said Nikhil Vora, Founder of Sixth Sense Ventures.

Focus on ‘Digital First’

Founded by Ravi Saxena in 2009, the company markets its products through an omni-channel distribution network. Over the past three years, it has been focusing on pivoting as a “Digital-First” brand and online sales now contribute 50 per cent of the total revenues.

The company added that the primary capital raised in this round will be used for strengthening online presence and capability, expanding and deepening distribution network, and enhancing branding initiatives.

Ravi Saxena, Founder of Wonderchef said, “The Indian consumer is focused on quality and value, and our sharp focus on these factors has helped us build deep trust with customers to become one of the major brands in the kitchen appliances category.”

Published on November 16, 2021

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