Pan-Asian Food Brand Moi Soi Secures First Institutional Funding from Wipro Consumer Ventures and GVFL
The Indian consumer goods landscape is witnessing a significant shift toward premium, authentic ethnic flavors, and Moi Soi is positioned at the forefront of this evolution. The pan-Asian food and beverage brand, owned by Ceres Foods, has successfully closed its first institutional funding round. The round saw participation from Wipro Consumer Care Ventures—the venture investment arm of Wipro Consumer Care & Lighting—and GVFL.
The investment, which was completed for an undisclosed value, sees the two investors acquiring an approximately 17% stake in the business. Despite the infusion of institutional capital, founder Deb Mukherjee continues to retain majority ownership of the brand.
Capitalizing on the “Beyond Indo-Chinese” Culinary Shift
Founded in October 2021, Moi Soi has rapidly scaled by addressing a gap in the market for authentic, multi-cuisine Asian products. The brand currently offers a diverse portfolio spanning 32 categories, including sauces, chilli oils, noodles, rice papers, ready-to-eat curries, boba drinks, and matcha powder in single-serve formats.
The investment comes at a time when the Indian palate is moving away from traditional Indo-Chinese flavors toward a more sophisticated, multi-cuisine dining experience. “India has evolved,” said Moi Soi founder Deb Mukherjee. “The way we dine today—sushi next to a Thai curry, dim sums and noodles on the same table—tells you the Indian palate has moved well beyond Indo-Chinese. Moi Soi was built to bring that authentic, multi-cuisine experience home.”
Sumit Keshan, Managing Partner at Wipro Consumer Ventures, noted the brand’s scalability, stating, “Moi Soi has built a strong position in the premium, ready-to-cook space demonstrating an impressive ability to scale with a clear focus on authentic, high-quality products in the Asian cuisine segment delivered with convenience.”
Operational Scale and Market Footprint
Moi Soi has demonstrated robust commercial traction, operating as a bootstrapped brand before this institutional round. The company currently generates over Rs 6 crore in monthly net sales and manages a high-volume logistics operation, dispatching more than 6 lakh products every month.
The brand’s distribution network is extensive, covering more than 2,000 pin codes across 250 cities in India. Its presence is felt across multiple modern retail channels, including:
- Quick Commerce: Rapid delivery platforms catering to urban consumers.
- D2C (Direct-to-Consumer): Targeted digital sales.
- Modern Retail: Large-scale modern trade channels.
Beyond the Indian domestic market, Moi Soi has already established an international presence, with products available in Australia, South Africa, Dubai, and Germany.
Strategic Roadmap: Expansion and Portfolio Diversification
With the new capital, Moi Soi intends to accelerate its growth through three primary strategic pillars:
- Deepening Distribution: Increasing penetration within modern trade and quick commerce platforms to capture more market share.
- Portfolio Expansion: Developing newer flavors and expanding the product range to cater to evolving tastes.
- Brand Building: Strengthening market recognition as a premium leader in the pan-Asian segment.
Mihir Joshi, Managing Director at GVFL, emphasized the brand’s strategic timing, noting that Moi Soi is “well positioned at the intersection of evolving consumer preferences and premium food innovation in India.”
Key Takeaways
- Investment: Moi Soi (Ceres Foods) raised its first institutional round from Wipro Consumer Ventures and GVFL.
- Ownership: Investors acquired a 17% stake; founder Deb Mukherjee retains majority control.
- Revenue & Scale: The brand generates over Rs 6 crore in monthly net sales and serves 250 cities in India.
- Product Focus: 32 categories of authentic pan-Asian products, including sauces, noodles, and boba drinks.
- Growth Strategy: Use of funds to deepen distribution in quick commerce and modern trade while expanding the product portfolio.