Moi Soi, a pan-Asian food and beverage brand under Ceres Foods, has recently attracted investment from Wipro Consumer Ventures. This move underscores significant trends in the food and beverage industry, particularly the growing appetite for diverse culinary experiences.
Wipro Consumer Care & Lighting, a prominent player in India’s FMCG sector, has chosen not to disclose the specifics of this investment round, which also involved GVFL, another venture-capital firm. Such collaborations highlight the increasing interest in the food and drink business, where innovative brands are reshaping consumer preferences.
Founded in October 2021, Moi Soi specializes in ready-to-cook meals, offering a wide array of over 32 products. The brand’s portfolio includes sauces, chili oils, noodles, rice papers, ready-to-eat curries, and Asian beverages. Notably, the product line features unique items like popping boba drinks and single-serve matcha powder, catering to the latest food and drink consumer trends.
Moi Soi’s distribution channels span quick-commerce, direct-to-consumer platforms, and modern trade in India, with partnerships involving major retailers such as Reliance and DMart. Additionally, the brand reaches international markets, including Australia, South Africa, Dubai, and Germany, reflecting its global aspirations.
Deb Mukherjee, the founder of Moi Soi, emphasizes the evolution of Indian dining preferences. “India has evolved. 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.”
He further added, “Moi Soi was built to bring that authentic, multi-cuisine experience home. With GVFL and Wipro Consumer Ventures alongside us, we will build the new modern Asian foods and beverages category in India and make Moi Soi a pantry essential in every Indian household.”
Currently, Moi Soi delivers to over 2,000 pin codes across 250 cities in India, boasting an impressive dispatch of more than 600,000 products each month. This operational scale illustrates the brand’s grasp of the food and drink business landscape.
In a LinkedIn statement, Wipro Consumer Ventures managing partner Sumit Keshan praised Mukherjee’s insights into consumer tastes, indicating a strategic alignment with Moi Soi’s objectives. “Right from our first meeting, [I] had decided to partner with him, given the positioning, potential, and execution – they have doubled their monthly revenues in [the] last 6 months. Also happy to invest along with GVFL,” Keshan noted.
Moi Soi plans to allocate the investment proceeds to enhance its distribution networks, innovate its product lineup with exciting flavors, and solidify its brand presence.
Wipro Consumer Care Ventures, established in 2019, aims to support emerging consumer brands throughout India and Southeast Asia. This investment marks a pivotal moment as it represents the inaugural commitment from Wipro Consumer Care Ventures’ Fund II, further reflecting the dynamic trends influencing the food and beverage industry.
