Indian spice startup Zoff Foods, known for its appearance on Shark Tank India, has secured $2 million in fresh funding from JM Financial Private Equity, as the brand looks to accelerate growth in India’s rapidly expanding packaged spices market.
With this latest round, Zoff Foods has raised around $7 million in total funding to date, with JM Financial continuing as its lead investor.
The company said the new capital will primarily be used to strengthen its ecommerce operations and scale offline retail distribution across India. The investment will also support Zoff’s efforts to capture a larger share of the branded packaged spices segment, which is witnessing increasing demand as consumers shift from loose spices to quality-assured packaged products.
Founded in 2018 by Akash Agrawal and Ashish Agrawal, Zoff Foods focuses on delivering premium-quality spices and food essentials. The brand’s portfolio includes a range of ground spices, whole spices, dry fruits, and other whole food products, targeting both online consumers and modern retail channels.
According to startup data platform TheKredible, the company reported revenue of ₹103 crore in FY25, reflecting an 11% increase from ₹93 crore in FY24. However, the company also saw its losses widen to ₹17 crore in FY25, compared to a ₹20 lakh loss in FY24, as it continued to invest heavily in growth and distribution.
The funding comes at a time when India’s spices market is expanding rapidly. Industry estimates suggest the Indian spices market could grow from roughly ₹2.2 lakh crore in 2025 to about ₹5.2 lakh crore by 2034, driven by rising demand for trusted branded products, quality packaging, and wider retail availability.
In the competitive landscape, Zoff Foods positions itself against established players such as Everest Spices and MDH Spices, while aiming to differentiate through digital-first distribution, product innovation, and premium positioning.
As consumer preferences continue to evolve toward hygienic, packaged, and traceable food products, Zoff Foods is betting that a stronger omnichannel presence will help it capture a meaningful share of India’s fast-growing spices category.
