ZOFF Foods Raises $2 Million in Pre-Series B Funding Led by JM Financial PE and Aman Gupta

Raipur-based spice brand ZOFF Foods has secured $2 million in a pre-Series B funding round led by existing investor JM Financial Private Equity through JM Financial India Growth Fund III, with participation from boAt co-founder Aman Gupta. The capital will fund offline distribution expansion, quick commerce scaling, and omnichannel growth across India. The announcement, made on March 10, 2026, marks a significant milestone for the Shark Tank India-featured startup as it accelerates its national footprint in India’s organised spices segment.

ZOFF Foods: A Shark Tank India-Featured Spice Brand with a Quality-Led Edge

Founded in 2018 by Akash Agrawalla and Ashish Agrawal, ZOFF Foods is a Raipur-headquartered FMCG startup that has built a distinct brand in India’s fragmented and largely unorganised spices market.

The company competes directly with legacy players such as Everest and MDH, differentiating itself through purity-focused processing, in-house manufacturing capabilities, and premium-grade packaging standards.

ZOFF Foods gained significant consumer visibility following its appearance on Shark Tank India, which amplified its brand equity and drove growth across digital and offline channels.

The brand’s product portfolio spans blended spices, whole spices, dry fruits, and allied food categories, sold through a multi-channel model covering quick commerce, modern retail, e-commerce, and General Trade.

ZOFF Foods Pre-Series B Funding Round: Key Details and Use of Capital

The $2 million pre-Series B round brings ZOFF Foods’ total funding raised to approximately $7 million, with JM Financial India retaining its position as the lead institutional backer across funding rounds.

The fresh capital will be deployed to strengthen offline distribution and General Trade network penetration, scale presence on high-growth quick commerce platforms, expand marketing and sales operations, and drive omnichannel growth to reach consumers across all retail touchpoints.

The company is betting on the accelerating shift from unbranded to organised, packaged spices as a structural tailwind for its next phase of expansion.

Investors Back ZOFF Foods’ Vision to Lead India’s Organised Spices Transition

Vinit Rai, Managing Director at JM Financial Private Equity, said: “ZOFF Foods stands out as a compelling investment opportunity in the Indian spice category. The founders have not just built a business but created a brand that resonates with consumers. Our partnership is about accelerating their national expansion and helping ZOFF Foods become a leading FMCG brand.”

Aman Gupta, co-founder of boAt and a judge on Shark Tank India, expressed confidence in the brand’s trajectory: “I have seen ZOFF Foods evolve from a promising challenger into a brand with strong consumer trust. What truly sets them apart is their unwavering focus on quality, innovation, and disciplined execution. My continued association reflects my strong belief in the founders’ vision.”

Akash Agrawalla, co-founder of ZOFF Foods, said: “This funding marks a key milestone as we transition into a rapidly scaling brand. As the spices category shifts towards organised, quality-led players, we believe we are well-positioned to lead this transformation.”

Co-founder Ashish Agrawal added: “Over the years, we have focused on innovation and earning consumer trust in a largely unorganised category. With JM Financial’s continued association, we are accelerating our next phase of expansion, bringing a proudly homegrown brand to every household in India.”

ZOFF Foods Revenue Grows 11% to Rs 103 Crore in FY25 Amid Rising Investment in Growth

According to financial data tracked by TheKredible, ZOFF Foods reported revenue from operations of Rs 103 crore in FY25, an 11% year-on-year increase from Rs 93 crore in FY24.

The company posted a net loss of Rs 17 crore in FY25, a sharp rise compared to a Rs 20 lakh loss in FY24. The widening loss reflects higher investments in brand building, distribution expansion, and operational scaling during the period.

Quick commerce and General Trade channels account for a significant share of ZOFF Foods’ current revenue base, and the new funding will be used to deepen both channels further.

What the ZOFF Foods Funding Means for India’s Growing Spices Market

The investment signals rising institutional confidence in organised, branded FMCG players targeting India’s vast spices segment. The Indian spices market is currently valued at approximately Rs 2.2 lakh crore in 2025 and is projected to reach Rs 5.2 lakh crore by 2034, driven by consumer preference for hygienically processed, quality-certified packaged products.

ZOFF Foods is positioning itself to capture a meaningful share of this organised market expansion, backed by institutional capital, a recognised consumer brand, and a proven omnichannel distribution model.

For the latest Indian startup funding news and FMCG sector updates, follow KnowStartup.

About the Author

Sachin

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages...

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages KnowStartup's Digital Agency rankings of firms across multiple cities in India. You can reach him on Linkedin.

Read more

• Linkedin