The consumer-centric venture fund Sixth Sense Ventures made investments of Rs 100 cr in Pushp, an Indore-based spice business.
In Madhya Pradesh, Pushp holds a dominant position in the market. It intends to intensify its national strategy in the market valued at Rs 90,000 crore.
Nikhil Vora, founder and CEO of Sixth Sense Ventures, told The Economic Times that the deal included a sizable secondary element in which the Mumbai-based investment firm purchased the 49-year-old business’s stake in Pushp from its first institutional shareholder, A91 Partners.
“One key thing that I’ve seen in the consumer market is that incrementally a lot of disruptors are emerging from regional powerhouses,” Vora said. “In spices, there’s a similar play. You see a couple of national companies like Everest and MDH, and then there are strong regional companies because taste and preferences vary across the country.”
Pushp Brand Spices honours the hard work and devotion of Indian women in the kitchen. Because of their unwavering and compulsive attention to sourcing raw materials, the majority of Indian households can trust.
They deliberately try to make their products free of artificial coloring and preservatives. After carefully assessing their selection criteria, the purchased raw material is decided upon, with processing and storage methods consistently keeping up with the most recent technological advancements. Being one of their patrons entitles you to enjoy purity that endures and infuses Indian cuisine with taste for generations to come.