A new grocery venture based in India’s National Capital Region (NCR) has raised $9m (£7m approx.) in seed funding to build what it describes as a technology-led, high-trust food platform for urban consumers.
Elixiir Foods said the funding round was led by venture capital firm 3one4 Capital, with participation from Incubate Fund Asia. The company plans to use the investment to establish its initial operations, strengthen sourcing and private label supply chains, and develop a technology backbone to support city-level expansion.
Founded by retail veterans Arvind Mediratta and Ambuj Narayan, Elixiir Foods aims to position itself as an “affordable premium” brand offering fresh, organic and minimally processed food alongside gourmet products. Its range is expected to span fresh produce, dairy, meat, poultry and seafood, as well as staples such as rice, flours and spices, and packaged categories including snacks, beverages and ready-to-eat meals.
The company said it would combine farm-led sourcing with a centralised wholesale and distribution platform to improve efficiency and pricing. It plans to operate through an omnichannel model tailored to densely populated urban areas.
The launch comes amid changing consumption patterns in India. As incomes rise, particularly in cities, more consumers are shifting towards higher-quality and health-focused food options. Elixiir said it aims to serve what it estimates is a fast-growing urban market opportunity worth more than $100bn.
Mr Mediratta, who has previously held senior roles at Walmart, Metro AG and Procter & Gamble, said Indian consumers were increasingly seeking healthier and more diverse food choices while remaining price-conscious.
Investors said the company was well placed to benefit from structural shifts in urban consumption. Incubate Fund Asia compared the opportunity to the rise of differentiated grocery chains such as Trader Joe’s in the United States.
Elixiir Foods said it would now focus on execution and building scale in selected cities.
