Kyt Ventures, which has backed companies such as BHive Alts, ClearDekho and Hotify has invested in Zomoz, India’s fastest-growing QSR momo brand, in its ongoing $2 million bridge round.
The round is being led by global angel network Kyt Ventures, with the participation of prominent angel investors and family offices, including Rebel Foods, which previously participated in the mop-up.
Hyderabad-based Zomoz, which has been backed by foodtech unicorn Rebel Foods, plans to use the funds to increase production capacity, launch new brands, and expand its footprint.
The startup will use the capital to expand in existing cities and enter new Tier 2 and 3 cities, with an aim to run 90+ operational outlets across India in the next 8-12 months. It is also expanding internationally, starting with 13 outlets in the United Arab Emirates (UAE). The launch of new brands is also in the pipeline.
The company was founded by ISB alumnus Shouvik Dhar along with SP Jain Alumni Akash Singh and Shreyash Darne, with the aim of delivering momos and dumplings across India. It operates self-owned outlets across different formats such as mall kiosks, high streets and corporates. Over time, it has become the most scalable momo brand in India, relying on its centralized production, frozen model, and low-cost plug-and-play kiosks.
“The demand for authentic momos has been growing steadily over the past few years. As a brand that is solely focused on serving high-quality momos, we are uniquely positioned to capture a significant share of this market. We are aiming to clock Rs 3 crore in monthly sales by year end while achieving company-level EBITDA profitability by July 2023,” said Dhar.
The second-largest Indian momo brand has 14 retail shops and 54 cloud kitchens in seven cities—Hyderabad, Bengaluru, Mysuru, Pune, Mangalore, Chennai, and Mumbai.
In November 2021, Rebel Foods invested in Hyderabad-based Zomoz, a prominent momos company.
Zomoz plans to raise $4-5 million in Series A in the third quarter of next year to fuel its ambitious aspirations of capturing a large share of the ever-growing momos market predicted to grow to $1.1 billion by 2026 from $400 million in 2022, growing at a CAGR of about 23%, as per industry reports.
Zomoz rivals include market leader Wow Momos as well as Momo Monk, Momo Zone, and Momo King. CEO Dhar, however, is confident of leaving a dent in the momos market.
“We are well-positioned to disrupt the market due to our centralized production, leading to consistent taste and quality reflected in its ratings; frozen model, ensuring zero wastage and no dependency on skilled staff at the outlet; and our capital efficiency in terms of returns generated against the CAPEX required per outlet. By combining operational and capital efficiency, we are confident that we can touch Rs 100 Cr ARR faster and with less investment than any of us before,” Dhar.
Kyt Ventures, Co-Founder, Dr. Anu Gupta said, “It’s been a pleasure investing in a fellow ISB alumnus’ venture, which is built on solid business fundamentals. Zomoz is at a sweet spot in its business and presents a promising opportunity for its investors. The company has seen significant growth in the past few years and is now closer to breaking even, which makes it a lucrative investment opportunity.”
Kyt Co-Founder Gagan Gupta said, “Zomoz has demonstrated exceptional growth and has become the fastest-growing momo brand in India. The team has built a scalable business model that has allowed them to expand rapidly across several cities, and now internationally. We believe in their vision and are confident in their ability to capture a significant share of the growing momo market. With our investment, we aim to support Zomoz's expansion plans and help them achieve their goal of becoming the leading momo brand in India and beyond."
Zomoz, operated by Prabhati Foods Pvt Ltd, is India's fastest-growing QSR momo brand. The company is backed by Rebel Foods and Kyt Ventures. Currently, Zomoz has a presence in 68 locations across seven cities, making it the second-largest Indian momo brand in the country.
About Kyt Ventures
Kyt Ventures is a unified funding, incubation & acceleration platform, backed by its global angel network having a reach of 2500+ angel investors and institutional investors. Kyt, India’s most investor friendly angel network, started with a mission to build an all-inclusive community of investors, entrepreneurs and ecosystem stake-holders.
KV is sector agnostic and invests upto $1 Million in early-stage startups from pre-seed to pre-series A.
KV’s founders, Gagan Gupta & Dr Anu Gupta, are renowned angel investors, featured individually amongst India’s top angels. Having an experience with 100+ startup investments, the duo manages a portfolio of 15+ startup investments. Dr. Anu has been featured amongst 100 Women entrepreneurs shaping and building India (HT Mint 2022). Both the founders are alumni of prestigious global B-Schools (ISB, India & IE, Spain) having diverse corporate and entrepreneurial experience.
The paint sector in India has undergone remarkable expansion and evolution, making a substantial impact on the country's infrastructure advancement, interior design preferences, and overall visual allure. Undoubtedly, the leading paint brands in the nation have been pivotal in this achievement. With the domestic paint industry carrying a valuation of Rs. 50,000 crores, it's noteworthy that decorative paints encompass a significant 75% share of this market.
India's infrastructure sector is expanding rapidly. With new buildings being constructed rapidly. However, no infrastructures is incomplete without proper paint. Paint not only enhances the aesthetic appeal of a building but also provides visual satisfaction.
The Indian paint industry is valued at approximately 50,000 crore rupees and is considered one of the fastest-growing industries in Asia. It provides a wide range of products such as distemper, oil paint, acrylic paint, plastic paint, latex paint, emulsions, and more. In India there are lots of paint industries. In this article we will see some of the best paint companies in india.
In India's paint industry, Asian Paints is the biggest company in the country and the third-largest in Asia. It was Founded in 1942 by four friends - Chimanlal Choksi, Champaklal Choksi, Suryakant Dani, and Arvind Vakil. Its headquarters is situated in Mumbai, India.
It is one of the top leading companies in paint brands with a revenue of Rs.34,488 crores, it is the top paint company in India. It specialises in producing a wide range of paints, for both decorative and industrial purposes. Additionally, as the parent company of Berger International, its has extended its presence globally.
Their services are available in more than 19 countries, Asian Paints has made remarkable progress in revolutionising the paint industry and is widely regarded as the best paint brand in India. Committed to excellence, the company has founded the Asian Paint Colour Academy, which provides comprehensive training programs for paint applicators, ensuring their skills align with the company's high standards.
What distinguishes Asian Paints is its dedication to innovation and customer-focused solutions. By launching creative Initiatives such as Colour Worlds, Home Solutions, ColourNext, and Kid's World, the company seeks to transform homes and spaces worldwide, providing customers with unique and immersive experiences.
2. Indigo Paints
Indigo Paints was founded in 2000. In the starting days they produce low-cost cement paints. Over time, it expanded its product range to include various types of water-based paints, like Exterior Emulsions, Interior Emulsions, Distempers, Primers, and more.
Indigo Paints was established in March 2000 and now it is in the top ten paint companies. Headquartered in Pune, the company provides a wide range of products including Interior emulsions, exterior emulsions, enamels, putties, primers, and more.
Currently, indigo Paints is regarded as one of the strongest competitors in the Indian paint market. It has built a reputation as an inventive paint manufacturer, consistently introducing new and unique products not before available in the country.
3. Kansai Nerolac Paints
Mumbai-based Kansai Nerolac Paint Ltd founded in 1920. The company provides a range of products such as Decorative paints, coatings, industrial (re)finishing products, basic and industrial chemicals, and many more. It creates and supplies paint systems for various sectors including cycle, material handling, bus bodies, electrical components, containers, and finishing lines.
In 1986, GNPL signed a TAA in Osaka with Kansai Paints Co. Ltd. of Japan to produce Cathodic Electrodeposition Primer and other advanced coatings for automotive products. GNPL was the first company in India to adopt this technology.
4. Dulux Paints
Dulux stands as India's foremost paint brand, recognized for its pioneering presence since its establishment in 1931. With a global reputation, the brand has been associated with esteemed entities like Imperial Chemical Industries and DuPont since its inception.
Headquartered in Gurugram, the company efficiently manages a network of 75 warehouses. Dulux enjoys extensive distribution, particularly within the realm of decorative coatings, solidifying its position as a leading choice for wall paint solutions.
5. British Paints
British Paints stands out as one of India's prominent paint manufacturers and the largest companies in the field. With a commitment to delivering tailored painting solutions, the company is dedicated to achieving the utmost customer contentment. Making its foray into the Indian market in 1947, British Paints swiftly ascended to a position of prominence as a top provider of marine, industrial, and architectural coatings.
Renowned for its cost-effective approach, British Paints offers an array of industrial and decorative products, solidifying its status as one of India's premier paint brands.
6. Berger Paint
Kolkata-based Berger Paints India, is one of the top paint companies in India, recognized as a leading paint brand in India.The company operates an extensive network of 16 manufacturing plants across India, along with two in Nepal, one in Poland, and in Russia.
Each quarter, Berger Paints is among the fastest-growing companies in the industry. Its product range includes Exterior Wall Coatings, Interior Wall Coatings, Berger Metal & Wood Paints, Undercoats, Express Painting, and Construction Chemicals.
Berger Paints India Limited is the second-largest paint company in the country, known for its rapid growth and high quality and providing the best paints in India. It employs over 3450 employees and has a nationwide distribution network of more than 25,000 dealers. The company ranks second among India's top 10 paint companies by turnover.
7. Jenson & Nicholson Paints
Gurgaon-based Jenson & Nicholson Paints is another one of the young paint companies in India. But It has established a significant presence in the Indian market. It operates as a joint venture, focusing on industrial paints and decorative paints as its primary offerings.
What sets this company apart is its commitment to eco-friendly products and their effectiveness against germs. This distinct approach has quickly endeared the brand to the Indian populace, making it a favored choice in the paint market. The company was founded by John Jenson & V. Nageswara Rao.
8. Grauer & Weil India
Grauer and Weil India Ltd stands as one of the prominent paint enterprises in India. Beyond its operations within the country, the company has extended its reach to multiple other nations. Despite adopting a modest advertising approach, the company has managed to cultivate a strong reputation within the Indian market.
Its products have garnered reviews and ratings resulting in an overall score of 3.8 out of 5, showcasing a commendable standing in comparison to its rivals. The enterprise was established in Kolkata by Ramanlal Shah & Dipesh Mehta.
9. Akzo Nobel India Ltd
AkzoNobel, is a well known paint and coatings firm, has been active in India for nearly 60 years. As one of the leading paint companies in the country, it has built a strong presence across India, their services are available in 5 different areas.
AkzoNobel NV acquired Imperial Chemical Industries Ltd., the holding company of ICI India Limited, through a scheme of arrangement under section 425 of the UK Companies Act 1985. It was renamed as the AkzoNobel India Limited, further establishing its position as a leading provider of high-quality coatings in the country.
In 2012, three more AkzoNobel Group companies operating in India were merged under the AkzoNobel India Limited, making it the country's only integrated Paints and Coatings company with a small Chemicals portfolio.
In addition to paints and coatings, AkzoNobel is engaged in various industries, including automotive, aerospace, marine, and industrial coatings. Their advanced technologies and expertise have made them a trusted partner for businesses looking for high quality protection, performance, and aesthetics.
10. Sirca Paints India Ltd
Founded by Sanjay Agarwal, Sirca Paints stands as a significant player in the realm of paint and coating manufacturing. Despite its youthfulness, the company has managed to secure a prominent position among India's top 15 paint brands. Initially known by a different name, it was later rebranded.
Originally incorporated as Sircolor Wood Coatings Private Limited, the company's offerings were well-received by customers, being regarded as products offering good value. However, Sirca's presence in the paint sector of the nation is often overlooked, remaining an underrated entity.
11. Nippon Paints
Nippon Paint India Pvt Ltd is a leading paint and product manufacturer based in India. Globally, It ranks as the seventh-largest paint maker. The company was originally founded in 1881 by Jujiro Moteki and Komyosha. Established in India in 2006, Nippon Paint has quickly grown into a major player, recognised for its dedication to providing superior high-quality paint products across a diverse range of segments.
Nippon paint makes high-quality paints and coatings for the automotive, industrial, and decorative sectors. Their environmentally friendly products include Marine coatings, automotive coatings, industrial coatings, and fine chemicals.
A key feature of Nippon Paint's strategy is its focus on sustainability. The company prioritises eco-friendly solutions, integrating sustainable practices into both its manufacturing processes and product lines. Nippon Paint is proud to produce environmentally responsible paints that reduce environmental impact while delivering outstanding performance.
12. Shalimar Paints
Shalimar Paints Ltd has one of the top paint companies in India. Headquartered in Gurgaon, it was established in 1902 by AC Turner and AC Wright. Shalimar Paints specialises in manufacturing and distributing an exceptional range of industrial coatings and decorative paints, catering to a wide range of customers across India.
Through its dedication to innovation and quality, Shalimar pants has maintained its position as a trusted name in the industry, earning a well-deserved reputation as one of the best paint brands in India. The company consistently provides customers with the best of both worlds: high quality products and exceptional service.
Shalimar Paints Ltd has played a key role in painting many of India's iconic structures, including Rashtrapati Bhavan, Howrah Bridge, Vidyasagar Setu, and Salt Lake Stadium.
In 1992, Shalimar Paints established its second manufacturing facility in Nashik, Maharashtra, to serve the Western region as it expanded its presence across India. In 2002, the company further expanded by opening its third manufacturing plant in Sikandrabad, Uttar Pradesh.
13. Snowcem Paints Limited
Snowcem paints limited ranks 10th among India's top paint companies. It was founded in 1959 by Mr. George Lillington in Mumbai. The company specialises in manufactures interior and exterior emulsions, primers, cement paints, wall putty, more. As one of the biggest cement paint producers in India, Snowcem operates four manufacturing units across the country, generating approximately $6 million.
14. Sheenlac Paints
Sheenlac paints ranks 9th position among India's top paint companies. It was founded in 1962 by Mr. John Peter. It is known for its innovation, Sheenlac was the first company to introduce sanding sealer and non-alcoholic wood Polish. It operates 4 manufacturing units in the country. They deal in various types of products such as interior & exterior wood coatings, interior and exterior wall paints, floor coatings paints, automotive coatings, more.
Conclusion
They all are the best paint companies in India, renowned for their diverse selection catering to various sectors. Whether it's intended for household applications, decorative purposes, industrial requirements, or automotive projects, these are the esteemed names in the industry that provide paints of exceptional quality. Choose among these well-established brands, which are highly regarded and widely sought after. Explore the top choices conveniently accessible through online platforms.
This was our selection of the Top 14 Indian Paint Brands. We hope this is useful to you. The order of this list is random.
Asian Paints, Indigo Paints, Kansai Nerolac Paints, Dulux Paints, British Paints, Berger Paint, Jenson & Nicholson Paints, Grauer, Weil India, Akzo Nobel India Ltd, Sirca Paints India Ltd. are the Top 10 Indian Paint Brands In 2024.
Which paint brand stands at the No. 1 position in India?
Asian Paints stands at no.1 position in India.
What is the revenue of the paint industry in the Indian market?
Currently, the revenue of the paint industry is around Rs 62,000 crore in the Indian market, as per reported by .