Some More Foods among winners at the Rocketfuel D2C Accelerator X Startup India Programme
Some More Foods based out of Tirupur has won the Rocketfuel D2C Accelerator X Startup India Programme which was announced by Shiprocket and Invest India last week. The winners will receive INR 1 Lakh in the form of cash grants, in addition to INR 50,000 offered in shipping credits on spot basis and provides an opportunity to receive investments of up to INR 50 Lakhs from Shiprocket and its fund partners.
In a release it said the selection of winners determines and reflects how this is the second edition of the ever-rising D2C wave, D2C 2.0. The brands selected had early success and originated from Tier 2, Tier 3 and Tier 4 cities, presenting a potential challenge for growing Tier 1 brands.
In its release Rocketfuel Accelerator X Startup India said it is committed to supporting these D2C brands in achieving what they have set. to achieve. Another interesting fact that was highlighted while reviewing the list of entries is the diversity and understanding of the Indian audience. Only a local brand can understand the actual need of the Indian masses, weather conditions, skin tone, and home challenges. Consumer segments are widely spread across various social, economic and geographic classes, and the future needs of these sectors are also allocated. With this broad wave of entrepreneurship defining India today and Bharat 2.0, these brands are all set to take our country to the next level.
Bharat 2.0 suggests that Indian brands are here to win collectively. India is unique, and so are the Indian consumers. And now, Indian brands have risen to the match and embraced the diverse needs of this country. This is what defines Bharat 2.0.
Speaking on this, Sohail Goel, Co-Founder and CEO of Shiprocket said: “We are here to democratize Indian e-commerce sellers. The Rocketfuel D2C Accelerator X Startup India Program is a step in the same direction that furthers our overall goal as a brand. Shiprocket will provide D2C startups with top-tier logistics and e-commerce services during the three-month acceleration program, as well as shipping credits that can be used on its platform. Furthermore, the entrepreneurs will have access to the D2C Verse, a large D2C network of investors and startups across India. I congratulate all the winners, whose unique solutions are likely to disrupt the e-commerce ecosystem and hope they make the most of this opportunity. It provides multiple opportunities for startups to experience the growing consumer market. This initiative to support early-stage startups in this sector will stimulate significant growth of D2C/e-commerce startups across the country. I congratulate all the program winners, who will contribute to the next wave of consumer products in the country.”
Speaking to YourCoimbatore, Deepa Muthukumarasamy, the Founder and CEO of Some More Foods said, ” Basically for us at Some More Foods, we are doing well in traditional supply chain model, supplying to stores, distributors and exports as usual. ”
“D2C was a challenge for us and in D2C as consumer acquisition cost was higher and we don’t have big budgets to spend for marketing being a boot strapped company. Consumers prefer free shipping and it was a challenge for us to meet the consumers expectations while selling online. With this winning from Rocketship, I am looking forward to work on logistics costs to make it work for us. and with their mentorship I am sure we will find a better way to delight our customers. ”
She also added, “We are given shipping credits to start with and we will be get connected to investors if we want to raise funds.”
As a matter of fact, Some More Foods is a part of Consumer brand accelerator program at IIM Bangalore with a grant of 7 lacs. And presently Deepa is an Entrepreneur in Residence at IIMK under the LIVE Innovation Fellowship under DST, Govt of India.
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