Indian frozen ready meals entrepreneur Praveen Kumar is attempting to raise £150,000 in seed funding to help realise the next stage of growth plans.
The Perth-based company's first ever crowdfunding round will be hosted on the Crowdcube platform, with the money raised going towards expansion within the retail and hospitality sectors, as well as building the direct-to-consumer platform.
At the time of writing, almost £80,000 has been raised from 89 investors.
The company is giving away 5.66% worth of equity at a £2.5m pre-money valuation and £2.11 share price.
Chief executive and founder Praveen Kumar said: “We are really excited to be launching a crowdfunding campaign which will give investors the opportunity to invest in our authentic Indian meals range at a very early stage.
“We’ve come a long way in a very short space of time and have big plans for the years ahead.
“We will continue to launch new products, bring down production costs and scale our business, so customers can experience the great taste of India in the comfort of their homes.”
Launched in 2019, the company has sold more than 200,000 ready meals to customers throughout the UK, as well as being listed with around 200 retail partners.
Praveen Kumar also reported sales of more than £680,000 in 2022 so far.
Meals are made using local ingredients and meats, with spices being imported directly from founder’s family farm in India.
The company do not use any colourings or preservatives in the meals, which are cooked in small batches and blast frozen.
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