Pune-based Two Brothers Organic Farms (TBOF) on Tuesday said it has raised Rs 110 crore in its Series B funding to support the growth of its manufacturing capabilites as well as international presence.
The equity funding was led by 360 ONE Asset, with participation from Rainmatter Investments, Narotam Sekhsaria Family Office, and IGNITE Growth LLP.
Founded by brothers Ajinkya and Satyajit Hange, the regenerative agriculture-led food brand plans to use the proceeds to expand its 60,000 sq ft in-house manufacturing facility into a larger food park, strengthen farmer engagement programmes, and enhance digital infrastructure. The company also aims to double its current team of food technologists and scientists as part of its focus on quality control and product innovation.
With this funding, TBOF plans to expand its international footprint, particularly in the US and the Middle East, where it recently incorporated new entities. Domestically, the company intends to increase its retail reach through modern trade partnerships and is exploring experiential brand-owned stores in select cities.
"We will also try setting up a store of our own, primarily for experience and awareness purposes. The store would showcase the entire transparent process, from seed conservation and the seed bank to farming, milking, ghee making, and bottling. Currently, about 5% of our sales come from modern trade, through tie-ups with select stores. Going forward, our strategy will focus more on modern trade and premium general trade, and we also plan to experiment in micro-markets like Delhi using the traditional distributor-retailer route,” Satyajit Hange told YourStory.
The capital raise follows a period of rapid growth for TBOF, which has tripled its sales over the past year and currently clocks about Rs 20 crore in monthly revenue. The company is targeting over Rs 200 crore in gross sales for the current financial year, up from Rs 108 crore in FY25, effectively aiming to double revenue within a year.
Over the last three years, the company has maintained an average annual growth rate of 90–95%, with its website seeing year-on-year growth of over 100%. Consumer retention rates currently stand at more than 60%.
On profitability, Hange said that while Two Brothers Organic Farms is a double-digit positive contribution margin (CM2) company, it was nearly EBITDA breaking last month and expects to remain at a minus single-digit EBITDA level for the full financial year. He added that the company aims to achieve full profitability within the next 8–10 months.
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“We are excited to partner with Two Brothers Organic Farms, a company that not only demonstrates
remarkable business potential but also prioritizes sustainability and innovation. Their focus on
regenerative agriculture and the transparency of their food system make them a standout in the organic
food space. We look forward to supporting TBOF’s growth and helping them scale new heights, both
domestically and internationally," says Sumit Jain, Senior Fund Manager & Strategy Head – Mid Stage Venture, 360 ONE Asset
The company currently works with around 5,000 farmers and aims to grow this base to 15,000 in the next 18 months through training, traceability initiatives, and incentives for sustainable farming practices. It had previously raised about Rs 58 crore in its series A round in June last year.
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