Acquisition · Commerce & Consumer Brands

Wingreens World acquires Safe Harvest, raises Series D

What they do

Wingreens World makes dips, sauces, snacks, juices, and breakfast cereals

It acquired Safe Harvest via share swap and raised ₹120 crore in Series D led by Ashish Kacholia

The company is EBITDA profitable and targets an IPO within two years

Wingreens World has acquired Safe Harvest through a share swap deal.
It also raised a Series D round of ₹120 crore (about $12.6 million).
The round was led by Ashish Kacholia, with Alchemy Fund participating.
Wingreens has raised ₹556 crore in total capital so far.
The company achieved EBITDA profitability in FY26.
Revenue for FY26 was ₹362 crore, up from ₹289 crore in FY25.
Losses narrowed from ₹180 crore in FY23 to ₹65 crore in FY24.
Wingreens plans to launch an IPO within two years.

The acquisition adds Safe Harvest's organic staples like cereals, grains, and pulses to Wingreens' portfolio.
Safe Harvest works with over 100,000 farmers, mostly women, through self-help groups and farmer producer organisations.
The Indian organic food and beverage market is projected to exceed $7.6 billion by 2030, growing at about 20.8% annually.
The ready-to-eat meals market is expected to more than double by 2034.
Large competitors like HUL, Marico, and Tata Consumer Products have high price-to-earnings ratios, showing investor interest in the sector.

Wingreens World was founded in 2011 and started with dips and sauces.
Its brands include Wingreens Farms, Raw Pressery, Wingreens Harvest, Saucery, and Safe Harvest.
Products span dips, sauces, snacks, breakfast cereals, juices, protein shakes, almond milk, iced teas, lemonades, baked chips, muesli, granola bars, oats, pasta, spreads, and mayonnaise.
Safe Harvest offers cereals, grains, pulses, millets, flours, whole spices, cold-pressed oils, natural sugars, and honey.
Safe Harvest claims 100% batch-wise pesticide testing and certification.
Wingreens acquired Raw Pressery in 2021 for ₹100 crore.
The company was founded with the Women’s Initiative Network (WIN) to create sustainable livelihoods for women.

Wingreens plans to use the Series D capital for portfolio expansion, distribution growth, supply chain integration, innovation, and farmer partnerships.
The company targets an IPO within two years.

Ashish Kacholia (lead) — Ashish Kacholia is a prominent Indian stock market investor.
Alchemy Fund (participated) — Alchemy Fund is an investment fund that participated in the Series D round.