Wingreens raises $17 mn from Investcorp and Omidyar Network India

Investcorp, a global provider and manager of alternative investment products, has led an investment of Rs 124 crore ($17 million) in Wingreens Farms, a packaged food and beverage companies, with participation from Omidyar Network India, an investment firm focused on social impact.

Wingreens, a business committed to Women’s empowerment, is focused on capturing changing consumer preferences towards healthier and “better for you” products, a segment which represents a $1 billion opportunity over the next 5 years.

Founded in 2011, Wingreens is focused on creating world class, minimally processed products using high quality ingredients that are sustainably sourced.

Anju C Srivastava, founder & managing director of Wingreens Farms, said, “We are delighted to welcome Investcorp and Omidyar Network India to the Wingreens family. We are passionate about building a new age food and beverage company that continues to scale its social impact on the back end while building exciting brands that resonate with the emerging millennial consumer on the front end.”

Its portfolio includes healthy snacks, sauces and spreads, spice mixes, specialty bakery, breakfast cereals, non-dairy milk, protein shakes and a wide assortment of organic products. The company has an omni-channel distribution strategy with an offline retail footprint in over 200 cities across India. Wingreens has also launched a new Direct-to-Consumer website – WingreensWorld.com offering its multi-brand foods and beverages across India.  

“With its sustainable business model and focus on delivering quality products, the company is a clear market leader across segments and enjoys strong reputation. Over the years, it has showcased a robust market standing and strong financial metrics. We look forward to working with the company and enabling them to scale further,” said Gaurav Sharma, partner and head of India Private Equity at Investcorp India.

“We’re excited to be partnering with Anju and Arjun. Launched as a Women’s Initiative Network project, Wingreens has been built from the very start with the goal of creating social impact.  Their mission is to create a “better for you”, high-quality food brand from India which incorporates sustainable practices, including sourcing and processing at the farmgate,” added Siddharth Nautiyal, partner, Omidyar Network India.