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.
