Alimento Agro Foods raises Rs 50 crore from IvyCap Ventures

Fast-moving consumer group (FMCG) company Alimento Agro Foods Pvt Ltd, parent of ready-to-eat food brand Meal of the Moment (MOM) and Korean food brand Gimi Gimi, has raised Rs 50 crore (around $5.5 million) from IvyCap Ventures. The company has also infused Rs 2 crore of its own money.

The capital will be utilised to expand manufacturing capacity, strengthen nationwide distribution, and accelerate product innovation for both brands, the company said.

Commenting on the funding, Prateek Bhagchandka, cofounder and CEO, said in a statement, “The capital…