Mumbai-based impact investor Asha Ventures and the UK government-backed British International Investment (BII) have backed healthy snacking brand Wonderland Foods’ Rs 140 crore ($15.93 million) funding round.
The deal marks the company’s first institutional funding round.
Founded in 2014, Wonderland offers a range of premium products, including flavoured makhanas and cashews, date bites, protein bites, berry mixes, and assorted dry fruits and nuts.
The funds raised will enable the Delhi-headquartered company to expand its portfolio of value-added offerings and strengthen its distribution network and marketing presence across multiple channels, the company said in a statement.
The capital will also be used to set up a green processing facility and generate over 1,000 formal jobs — primarily for women, it added.
The funding announcement comes amid rising health consciousness, higher disposable incomes, and the rapid expansion of quick commerce, which are together driving growth for health-focused food brands in India.
“Consumer habits around snacking are shifting towards healthier options, and we are currently at an inflection point where healthy snacking is taking off with the rise of quick commerce and increasing health consciousness,” said Amit Mehta, Managing Partner, Asha Ventures.
Asha Ventures is a venture capital firm that supports early- to growth-stage businesses in India addressing challenges related to financial inclusion, affordable healthcare, job creation, and climate resilience and adaptation. It counts BII, Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, the National Bank for Agriculture and Rural Development (NABARD), and several prominent family offices among its backers.
Meanwhile, BII invests in businesses in developing countries in a bid to improve people’s lives and
help protect the planet. Between 2022-2026, at least 30% of BII’s total new commitments by value will be in climate finance.
