Two Indian startups, Mithila Foods and Goldiam International Ltd., are making waves in the FMCG and jewelry sectors, raising significant capital to fuel their ambitious growth plans. These funding rounds highlight the growing investor confidence in India's regional and sustainable consumer brands.
Mithila Foods, a Bihar-based FMCG startup, has secured Rs 1.5 crore in seed funding from AJVC, a venture capital firm led by Aviral Bhatnagar. Launched in January 2025 by founders Shubham Sunderka, Ankit Kumar, and Anshu Kumar, the company celebrates Bihar's culinary heritage with products like sattu, roasted chana, makhana, and katarni chuda. The startup has quickly gained traction, reporting an annualized revenue of Rs 3 crore, over 20 stock-keeping units, and a customer base of 25,000 across 4,000 pin codes in just five months.
The fresh capital will enable Mithila Foods to expand its distribution network, strengthen supply chains, and introduce new product categories inspired by regional flavors. Starting from a warehouse in Dumka, the company has already established a nationwide presence through e-commerce giants like Amazon and Flipkart, alongside offline retail in tier-I and tier-II cities. AJVC's investment, which typically involves Rs 1.5 crore for a 9 percent equity stake, aligns with its mission to back early-stage startups in underrepresented regions like Jharkhand and Assam.
In a parallel development, Goldiam International Ltd., a diamond jewelry exporter and emerging player in lab-grown diamonds (LGDs), has raised Rs 202 crore through a Qualified Institutional Placement (QIP). Facilitated by Monarch Networth Capital, the QIP saw participation from prominent investors like Morgan Stanley. The funds will drive the expansion of Goldiam's consumer-facing LGD brand, ORIGEM, which plans to open 70 to 90 stores across India in the next 18 to 24 months.
Goldiam's fundraise is the largest in India's lab-grown diamond retail sector, nearly doubling the size of competing venture capital-backed deals. With six stores opened in the past 10 months, a debt-free balance sheet, and a history of returning nearly Rs 200 crore to shareholders through dividends and buybacks, Goldiam is poised for sustainable growth. The company projects 15% to 20% growth in sales and profitability this year, fueled by its global B2B operations and expanding B2C retail presence in India.
Anmol Bhansali, Director at Goldiam, emphasized the transformative potential of the fundraise: "This capital will help us accelerate ORIGEM's expansion and make lab-grown diamond jewelry more sustainable, accessible, and aspirational for Indian consumers."
These funding successes underscore the vibrant potential of India's startup ecosystem, with Mithila Foods and Goldiam leading the charge in their respective domains. As they scale up, both companies are set to redefine consumer experiences, blending regional authenticity and sustainable innovation.
No comments: