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
- SectorsConsumer
- Website benanifoods.com
- Acquired by WayCool (Mar 2019)
- Annual Revenue$124.91 M (USD)140as on Mar 31, 2022
- Net Profit-$48.13 M (USD)-141as on Mar 31, 2022
- EBITDA-$45.37 M (USD)-153as on Mar 31, 2022
- Total Equity Funding$1.28M (USD)
in 3 rounds
- Latest Funding Round$591.47K (USD), Seed
Jan 2018
- InvestorsWayCool
& 5 more
- Employee Count641
- Acquired byWayCool
(Mar 2019)
Associated legal entities of BENANI FOODS
BENANI FOODS is associated with 2 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Waycool Brandsnext Private Limited CIN U15490TN2013PTC093940 | Active | 28 Nov 2013 | Chennai, Tamil Nadu | ₹22.8 Cr | 40 | 5 | View details |
| Waycool Foods And Products Private Limited CIN U52399TN2015PTC101215 | Active | 01 Jul 2015 | Chennai, Tamil Nadu | ₹1,111 Cr | 539 | 7 | View details |
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 — $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.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2018 | $591,467 | Seed | $1.78M | TVS Electronics, Prime Property Holdings | |
| Apr 2017 | $277,433 | Seed | $1.2M | Prakash Katama, Prime Property Holdings | |
| Dec 2015 | $414,431 | Seed | $••••• | Prime Property Holdings |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2018 | $1.78M | •••••••• |
| Apr 2017 | $1.2M | •••••••• |
| Dec 2015 | $••••• | •••••••• |
Full valuation and stage history of BENANI FOODS
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investment in growth equity and insurtech sectors in India. | 2007 | tvscapital.in | Chennai, India | |
Provider of electronic devices maintenance services | 1986 | tvs-e.in | Chennai, India | |
Real estate properties are held and managed in Chennai, India. | Chennai, India | |||
Provider of food supply chain management and farming solutions. | 2015 | waycool.in | Chennai, India | |
PK Prakash Katama | unknown_1a56694e358a49249 | |||
VD Venkatesh Deivanayagam | Angel investor and tech entrepreneur, focused on early-stage Indian startups | unknown_d879db5dbf59404b8 |
Investor details for BENANI FOODS
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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.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Venkatesh Deivanayagam DIN 03415053 | Director | 28 Nov 2013 | 12 yrs 11 mo | Waycool Brandsnext Private Limited |
| Karthik Jayaraman DIN 07229751 | Managing Director | 02 Apr 2016 | 10 yrs 7 mo | Waycool Foods And Products Private Limited, Waycool Brandsnext Private Limited |
| Vinod Kumar Dasari DIN 00345657 | Director | 14 Mar 2017 | 9 yrs 8 mo | Waycool Foods And Products Private Limited |
| Sanjay Venkat Dasari DIN 07228428 | Director | 23 Mar 2019 | 7 yrs 7 mo | Waycool Brandsnext Private Limited |
| Vaidhehi Ravindran DIN 08163327 | Director | 13 Apr 2019 | 7 yrs 7 mo | Waycool Foods And Products Private Limited |
| Kartik Srivatsa DIN 03559152 | Director | 13 Apr 2019 | 7 yrs 7 mo | Waycool Foods And Products Private Limited |
| Sanjay Joseph Wagle DIN 09463828 | Nominee Director | 13 Jan 2022 | 4 yrs 10 mo | Waycool Foods And Products Private Limited |
| Bellarry Prabhakara Ravindran DIN 10048760 | Additional Director | 03 Mar 2023 | 3 yrs 8 mo | Waycool Brandsnext Private Limited |
| Sandeep Murthy DIN 00591165 | Additional Director | 07 Oct 2024 | 2 yrs 1 mo | Waycool Foods And Products Private Limited |
| Parthasarathi Venkatesh DIN 07975378 | Nominee Director | 18 Aug 2025 | 1 yr 2 mo | Waycool Foods And Products Private Limited |
People of BENANI FOODS
1 people are tracked at BENANI FOODS (1 in leadership); the tracked headcount is 641.
| Name | Role | Group |
|---|---|---|
| Founder | Leadership |
Complete people profiles for BENANI FOODS
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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.
Detailed financial statements for BENANI FOODS
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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.
- Founded BENANI FOODS is founded.
- Funding First funding round of $414K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $591K.
- 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 Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| idfreshfood.com | 2005 | Bengaluru, India | $119.77M | Ready-to-cook wholesome food products are provided by ID Fresh Food. | ||
| tastybite.com | 1985 | Pune, India | $7.5M | 257 | Packaged, ready to cook food for Indian and south Asian cuisine | |
| veg-olution.com | 2019 | Bengaluru, India | $3.83M | 32 | Versatile and nutritious protein-first vegetarian foods are produced. |
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.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Platform offering a subscription-based delivery service for fresh milk and groceries | 2015 | Gurugram, Haryana, India | USD 228.42 M | USD 99.78 M | 3,464 | |
Subscription-based coffee products are offered by an internet-first brand. | 2013 | Gurugram, Haryana, India | USD 112.84 M | USD 61.39 M | 2,059 | |
Meat and seafood products are delivered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 564.84 M | USD 143.51 M | 2,828 |
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Related news about Benani Foods
Complete news archive for 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.