About Eastern Condiments
Eastern Condiments is a company based in Kochi (India) founded in 1983 was acquired by Orkla in September 2020. It operates as a Direct-to-Consumer (D2C), and Reseller / Distribution. Eastern Condiments has raised $46 million across 2 funding rounds from investors including McCormick, Orkla and New Vernon Capital. The company has 1,027 employees as of April 01, 2024. Eastern Condiments offers products and services including Spices & Masalas, Pickles & Paste, and Breakfast Products. Eastern Condiments operates in a competitive market with competitors including Pushp, Keya Foods, Food Service, CurryIt and Badshah Masala, among others.
- Headquarter Kochi, India
- Employees 1027 as on 01 Apr, 2024
- Stage Minicorn
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Sectors
Consumer
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Orkla India Limited
- Jurisdiction Bangaluru, Karnataka, India
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Annual Revenue
$264.69 M (USD)18.58as on Mar 31, 2023
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Net Profit
$40.78 M (USD)189.41as on Mar 31, 2023
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EBITDA
$37.42 M (USD)30.83as on Mar 31, 2023
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Total Equity Funding
$46 M (USD)
in 2 rounds
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Latest Funding Round
$36 M (USD), Series C
Jun 29, 2010
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Investors
McCormick
& 2 more
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Employee Count
1027
as on Apr 01, 2024
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Acquired by
Orkla
(Sep 04, 2020)
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Products & Services of Eastern Condiments
Eastern Condiments offers a comprehensive portfolio of products and services, including Spices & Masalas, Pickles & Paste, and Breakfast Products. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Various spice blends are offered for culinary use.
Traditional pickles and pastes are provided for meals.
Quick breakfast options are made available for convenience.
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Funding Insights of Eastern Condiments
Eastern Condiments has successfully raised a total of $46M across 2 strategic funding rounds. The most recent funding activity was a Series C round of $36 million completed in June 2010. 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 Total Funding
- Total Rounds 2
- Last Round Series C — $36.0M
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First Round
First Round
(08 Jan 2006)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2010 | Amount | Series C - Eastern Condiments | Valuation | McCormick |
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| Jan, 2006 | Amount | Series B - Eastern Condiments | Valuation | New Vernon Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Eastern Condiments
Eastern Condiments has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include McCormick, Orkla and New Vernon Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Spices and seasonings are produced and branded by McCormick.
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Founded Year | Domain | Location | |
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Operates as an investment and wealth management firm for clients.
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Founded Year | Domain | Location | |
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Orkla is recognized as a leading industrial investment company.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Eastern Condiments
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Eastern Condiments
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Eastern Condiments Comparisons
Competitors of Eastern Condiments
Eastern Condiments operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Pushp, Keya Foods, Food Service, CurryIt and Badshah Masala, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Brand of spices & seasonings
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| domain | founded_year | HQ Location |
Multi-category food products are offered via an internet-first brand.
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| domain | founded_year | HQ Location |
Customized food solutions are provided for the HORECA sector.
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| domain | founded_year | HQ Location |
Internet first brand offering spices and other food products
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| domain | founded_year | HQ Location |
Blended, ground, and whole spices are manufactured for culinary applications.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Eastern Condiments
Frequently Asked Questions about Eastern Condiments
When was Eastern Condiments founded?
Eastern Condiments was founded in 1983 and raised its 1st funding round 23 years after it was founded.
Where is Eastern Condiments located?
Eastern Condiments is headquartered in Kochi, India. It is registered at Kochi, Kerala, India.
Who is the current CEO of Eastern Condiments?
Akhil Paul is the current CEO of Eastern Condiments.
Is Eastern Condiments a funded company?
Eastern Condiments is a funded company, having raised a total of $46M across 2 funding rounds to date. The company's 1st funding round was a Series B of $10M, raised on Jan 08, 2006.
How many employees does Eastern Condiments have?
As of Apr 01, 2024, the latest employee count at Eastern Condiments is 1,027.
What is the annual revenue of Eastern Condiments?
Annual revenue of Eastern Condiments is $264.69M as on Mar 31, 2023.
What does Eastern Condiments do?
Eastern Condiments is established as a prominent exporter of spices from India, specializing in a wide range of products including spices, masalas, pickles, pastes, and breakfast items. The company operates within the food and beverage sector, focusing on delivering traditional and innovative culinary solutions. Its presence is noted across more than 22 countries, ensuring the global distribution of authentic Indian flavors. Various product lines such as Arabic Range and Madhuram Range are developed to cater to diverse consumer preferences. Additionally, recipe resources and cookbooks are provided to enhance customer engagement and culinary experience.
Who are the top competitors of Eastern Condiments?
Eastern Condiments's top competitors include Pushp, CurryIt and Food Service.
What products or services does Eastern Condiments offer?
Eastern Condiments offers Spices & Masalas, Pickles & Paste, and Breakfast Products.
Who are Eastern Condiments's investors?
Eastern Condiments has 3 investors. Key investors include McCormick, Orkla, and New Vernon Capital.
What is Eastern Condiments's valuation?
The valuation of Eastern Condiments is $62.53M as of Jan 2006.
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