Anthill Ventures is thrilled to announce our investment in Scandalous Foods, a pioneering venture in the confectionery space, co-founded by dynamic entrepreneurs Sanket S and Pravesh Amin.
This round saw the participation of leading names in the industry, including ourselves, EvolveX, Value360, and SapphireInk VC, along with noted industry veterans Sagar Daryani, Kamnaa Aggarwal, Vikas Aggarwal, and Harpal Singh Sokhi.
Scandalous Foods is a B2B enterprise established in August 2022, and has been making waves with its unique offering in the sweets segment. Specialising in preservative-free confectioneries with an impressive six-month shelf life, their products are tailored for the growing demand of the restaurant sector. Their goal is to enable strategic advancements in product development, amplify the production capabilities of their Nasik unit, and bolster automation processes.
The company’s forward-thinking approach is evident in its ambitious plan to extend its market presence from 250 to 2000 touchpoints in the upcoming year.
Scandalous Foods is not just diversifying its product range to include mithai bars, cookies, cupcakes, and sachets but is also addressing the growing market demand for spontaneous indulgence.
A remarkable 10x growth in customer base and monthly orders in just three quarters, has further validated the potential of their innovative approach. Their frozen food products maintain an impressive 97% retention rate of freshness, texture, and taste, underlining the quality of their offerings.
As Scandalous Foods aims to penetrate the expansive HoReCa industry, this infusion of funds is not just a financial boost but a strong vote of confidence in the company’s vision and future prospects. The company is well-positioned to become a frontrunner in the competitive sweets market, and we are proud to be part of this journey.