BENANI FOODS

Chennai, India Founded: 2013 • Age: 13 yrs Minicorn Acquired By WayCool
Ready-to-cook food brand

About BENANI FOODS

BENANI FOODS is a Consumer company based in Chennai (India) founded in 2013 by Venkatesh Deivanayagam, and was acquired by WayCool in March 2019. Ready-to-cook food brand. BENANI FOODS has raised $1.28 million across 3 funding rounds from investors including WayCool, TVS Electronics and TVS Capital Funds. The company has 641 employees. BENANI FOODS was last valued at $1.78 million in January 2018. Its focus areas include Food and Agriculture, Food & Beverage Products, Convenience Foods and Ready to Eat Meals. Its competitors include ID Fresh Food, Tasty Bite and VEGOLUTION; 3 of its 3 listed competitors have raised funding.

Company details

Benani Foods was founded in 2013 in Chennai, India, and operates within the ready-to-cook food sector. Products such as dosa batter are manufactured and distributed, with claims of natural and fresh ingredients. Operations focus on retail channels, where the majority of sales occur in Tamilnadu, India. The brand serves local consumers through established retailers in the region.

  • Headquarters Chennai, India
  • Employees 641
  • Founders Venkatesh Deivanayagam
  • Stage Acquired
  • Sectors
    Consumer
  • Website benanifoods.com
  • Acquired by WayCool (Mar 2019)
Key Metrics
  • Annual Revenue
    $124.91 M (USD)
    140
    as on Mar 31, 2022
  • Net Profit
    -$48.13 M (USD)
    -141
    as on Mar 31, 2022
  • EBITDA
    -$45.37 M (USD)
    -153
    as on Mar 31, 2022
  • Total Equity Funding
    $1.28M (USD)

    in 3 rounds

  • Latest Funding Round
    $591.47K (USD), Seed

    Jan 2018

  • Investors
    WayCool

    & 5 more

  • Employee Count
    641
  • Acquired by
    WayCool

    (Mar 2019)

Funding Insights of BENANI FOODS

BENANI FOODS has successfully raised a total of $1.28M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $591.47 thousand completed in January 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $1.28M
  • Total Rounds 3
  • Last Round Seed β€” $591,467
  • First Round $414,431

    (Dec 2015)

  • Investors Count 5

All 3 funding rounds of BENANI FOODS with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jan 2018$591,467Seed$1.78MTVS Electronics, Prime Property Holdings
Apr 2017$277,433Seed$1.2MPrakash Katama, Prime Property Holdings
Dec 2015$414,431Seed$β€’β€’β€’β€’β€’Prime Property Holdings
Valuation history
DateValuationStage
Jan 2018$1.78Mβ€’β€’β€’β€’β€’β€’β€’β€’
Apr 2017$1.2Mβ€’β€’β€’β€’β€’β€’β€’β€’
Dec 2015$β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’
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Last known valuation $1.78M (Jan 2018). 6 investors in total: 4 institutional and 2 angel.

Investors in BENANI FOODS

BENANI FOODS has secured backing from 6 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include WayCool, TVS Electronics and TVS Capital Funds.

All
Venture Fund
Institutional
Angel
InvestorDescriptionFounded YearDomainLocation
Investment in growth equity and insurtech sectors in India.
2007tvscapital.inChennai, India
Provider of electronic devices maintenance services
1986tvs-e.inChennai, India
Real estate properties are held and managed in Chennai, India.
Chennai, India
Provider of food supply chain management and farming solutions.
2015waycool.inChennai, India

Prakash Katama

unknown_1a56694e358a49249

Venkatesh Deivanayagam

Angel investor and tech entrepreneur, focused on early-stage Indian startups
unknown_d879db5dbf59404b8
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Board of directors of BENANI FOODS

The boards of the 2 registered companies of BENANI FOODS currently have 10 directors; the longest-serving is Venkatesh Deivanayagam, appointed in 2013. 17 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Venkatesh Deivanayagam
DIN 03415053
Director28 Nov 201312 yrs 11 moWaycool Brandsnext Private Limited
Karthik Jayaraman
DIN 07229751
Managing Director02 Apr 201610 yrs 7 moWaycool Foods And Products Private Limited, Waycool Brandsnext Private Limited
Vinod Kumar Dasari
DIN 00345657
Director14 Mar 20179 yrs 8 moWaycool Foods And Products Private Limited
Sanjay Venkat Dasari
DIN 07228428
Director23 Mar 20197 yrs 7 moWaycool Brandsnext Private Limited
Vaidhehi Ravindran
DIN 08163327
Director13 Apr 20197 yrs 7 moWaycool Foods And Products Private Limited
Kartik Srivatsa
DIN 03559152
Director13 Apr 20197 yrs 7 moWaycool Foods And Products Private Limited
Sanjay Joseph Wagle
DIN 09463828
Nominee Director13 Jan 20224 yrs 10 moWaycool Foods And Products Private Limited
Bellarry Prabhakara Ravindran
DIN 10048760
Additional Director03 Mar 20233 yrs 8 moWaycool Brandsnext Private Limited
Sandeep Murthy
DIN 00591165
Additional Director07 Oct 20242 yrs 1 moWaycool Foods And Products Private Limited
Parthasarathi Venkatesh
DIN 07975378
Nominee Director18 Aug 20251 yr 2 moWaycool Foods And Products Private Limited

People of BENANI FOODS

1 people are tracked at BENANI FOODS (1 in leadership); the tracked headcount is 641.

NameRoleGroup
FounderLeadership
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Financials of BENANI FOODS

Figures of Waycool Foods And Products Private Limited, the primary company behind BENANI FOODS, for FY 2023. Revenue was ₹1,111 Cr (+62% year on year). Net loss was -₹2,592 Cr (-205% margin). EBITDA was -₹2,519 Cr (-200% margin). Revenue has grown at a compounded annual rate of +66% over three years and +103% over five years.

  • ₹1,111 CrRevenue · FY 2023 · +62% YoY
  • -₹2,592 CrNet loss · -205% margin
  • -₹2,519 CrEBITDA · -200% margin
  • ₹1.14 CrPaid-up capital
  • 539Employees (provident fund records)
  • +66%Revenue CAGR, 3 years
  • +103%Revenue CAGR, 5 years

Balance sheet, profit and loss, cash flow and ratios of Waycool Foods And Products Private Limited are on its company page.

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Timeline of BENANI FOODS

5 dated milestones of BENANI FOODS across 6 years, from founding to its latest funding, stage changes and deals.

  1. Founded BENANI FOODS is founded.
  2. Funding First funding round of $414K.
  3. Milestone Reaches Minicorn status.
  4. Funding Latest funding round, Seed, of $591K.
  5. Exit Acquired by WayCool.

Competitors of BENANI FOODS

BENANI FOODS has 3 listed competitors in our database, 3 of them funded. They include ID Fresh Food, Tasty Bite and VEGOLUTION.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
idfreshfood.com2005Bengaluru, India$119.77M
Ready-to-cook wholesome food products are provided by ID Fresh Food.
tastybite.com1985Pune, India$7.5M257
Packaged, ready to cook food for Indian and south Asian cuisine
veg-olution.com2019Bengaluru, India$3.83M32
Versatile and nutritious protein-first vegetarian foods are produced.
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Detailed competitors of BENANI FOODS

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Top companies in Food & Beverage Products & Processing

3 companies that operate in the same segment as BENANI FOODS (Food & Beverage Products & Processing) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Platform offering a subscription-based delivery service for fresh milk and groceries
2015Gurugram, Haryana, IndiaUSD 228.42 MUSD 99.78 M3,464
Subscription-based coffee products are offered by an internet-first brand.
2013Gurugram, Haryana, IndiaUSD 112.84 MUSD 61.39 M2,059
Meat and seafood products are delivered via an online platform.
2015Bengaluru, Karnataka, IndiaUSD 564.84 MUSD 143.51 M2,828
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Related news about Benani Foods

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Frequently Asked Questions about BENANI FOODS

BENANI FOODS was founded in 2013 and raised its 1st funding round 2 years after it was founded.

BENANI FOODS is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.

BENANI FOODS is a funded company, having raised a total of $1.28M across 3 funding rounds to date. The company's 1st funding round was a Seed of $414.43K, raised on Dec 2015.

BENANI FOODS has 641 employees.

Annual revenue of BENANI FOODS is $124.91M as on Mar 31, 2022.

Benani Foods was founded in 2013 in Chennai, India, and operates within the ready-to-cook food sector. Products such as dosa batter are manufactured and distributed, with claims of natural and fresh ingredients. Operations focus on retail channels, where the majority of sales occur in Tamilnadu, India. The brand serves local consumers through established retailers in the region.

BENANI FOODS's top competitors include ID Fresh Food, Tasty Bite and VEGOLUTION.

BENANI FOODS has 6 investors. Key investors include WayCool, TVS Electronics, TVS Capital Funds, Prakash Katama, and Prime Property Holdings.

The valuation of BENANI FOODS is $1.78M as of Jan 2018.

BENANI FOODS is associated with 2 legal entities: Waycool Foods And Products Private Limited, Waycool Brandsnext Private Limited.

Yes. BENANI FOODS was acquired by WayCool in March 2019.

The legal entities of BENANI FOODS currently have 10 directors, including Vinod Kumar Dasari, Karthik Jayaraman, Sanjay Joseph Wagle and others.

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