Spicing Tradition with Innovation: Pushp Brand Secures ₹100 Crore Funding from Sixth Sense Ventures

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With a heritage which dates back centuries, spices have always been an integral part of Indian kitchen. However, with evolution, there has been a change in preference from locally ground masalas towards branded spice mixes. Bridging this gap, Pushp Brand has recently secured an investment of ₹ 100 crores from Sixth Sense Ventures (SSIO-III).

“A large & sticky, fast-growing category with a great margin profile & distribution moat makes spices one of the most attractive consumer segments. As consumers increasingly shift from loose, unbranded spices to packaged, branded alternatives, Pushp is strategically positioned to capitalise on this shift. With a seasoned management team, optimal procurement, state-of-the-art manufacturing & robust distribution, Pushp is transitioning from a regional heavyweight to a national one. This evolution will enable significant value unlocking. Excited to partner with Mahendra and Surendra Surana to realise their vision.” said Nikhil Vora, founder of Sixth Sense Ventures.

The spice consumption in recent years has seen an evolution from unbranded and loose spice consumption to packaged spice consumption and finally to blended spice mix consumption. In this flourishing industry, Pushp Brand has been able to become the #1 player in Madhya Pradesh and able to dominate the entire spice value chain.

Logo of Pushp Brand

Pushp’s products include coriander, turmeric and chilli powder, pure spices (hing, cumin powder, dry ginger powder, pepper powder), blended spices (garam masala, achar masala, chat masala, etc), value added items such as lemon cool masala and Jaljira

In June 2020, the brand underwent a crucial turning point when it received ₹125 crores for their first ever equity funding into the company led by A91 Partners and Goldfin Capital. This capital infusion helped the company to expand its distribution network but also increased its valuation to ₹500 crores.

Mahendra Surana, co-founder of Pushp, said, “The Indian consumer is focused on taste, quality and reliability, and our sharp focus on these factors has helped us build deep trust with customers to become one of the top brands in the spices category. We are thrilled about the next phase of growth as we build Pushp into a leading spices brand in the country. We are excited to welcome Nikhil Vora and Nimisha Nagarsekar from Sixth Sense Ventures Sense on this incredible journey. With the Sixth Sense’s rich experience in FMCG companies, Pushp will definitely touch new milestones in future.”

With a consistent growth over the past five years Pushp Brand has gone from a local leader to a potential national powerhouse. With a reported annual revenue of $42.6M as of March 2023 as per Tracxn, this investment will push Pushp into the national market while solidifying its position in the spice industry.

About Pushp Brand

Pushp Brand was established in 1975 by Late Shri Kishanlalaji Surana as a small spice supplier in Indore, laying down its foundation in Central India. Under the leadership of Shri Mahendra Surana, Shri Surendra Surana and Shri Labhchandji Surana‘s guidance, the company grew from solely catering Malwa to a diverse company today.

Advertisement of Pushp Brand

The brands Pushp and Munimji are not only known for their quality but have also grown their presence across more than 20 states in India. Pushp Brand has been striving to find a balance between traditional pounding methods and cutting-edge technology to provide spices that are top-tier quality.

Today, the brand has grown its reach to states such as Maharashtra, Rajasthan, Uttar Pradesh, Bihar, and Gujarat, developing a foundation for becoming market leaders. With a plant capacity of 200 metric tonnes per day which is built over an area of 2,15,000 square feet, the company is a testament to the fusion between tradition and technology.

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