Elixiir Foods Raises $9M: India’s trusted, tech-enabled omnichannel platform for curated essentials

We are thrilled to lead the $9 million round in Elixiir Foods, with participation from  Incubate Fund Asia. Elixiir Foods is redefining how urban India accesses fresh, wholesome, and gourmet food – building an omnichannel platform that delivers five-star quality at compelling prices. 

As India's GDP per capita crosses the $2,500 inflection point, over 150 million urban consumers are shifting away from basic staples towards higher-quality, healthier food. Fresh, wholesome, and gourmet categories will be the defining vectors of this consumption upgrade, and Elixiir has built the integrated platform to lead it.

The platform unifies farm-led sourcing, high-trust private labels, experience-led physical formats, and technology-enabled wholesale infrastructure – delivering quality and value at scale.

The Market: India at a Structural Turning Point

India's food retail market is experiencing a structural shift that mirrors consumption upgrade trajectories we've studied across high-growth Asian markets. When economies cross the $2,500 GDP per capita threshold, household spending patterns change fundamentally - fresh produce, premium proteins, organic options, and indulgence categories begin to capture increasing wallet share as consumers prioritize quality, trust, and experience over price alone.

Post-pandemic, this trend has accelerated in India. Health consciousness has moved from aspiration to expectation, with urban consumers seeking pesticide-free vegetables, antibiotic-free proteins, minimally processed foods, and cafe-quality experiences. Demand for clean, traceable, and high-quality food is becoming mainstream across dense urban micro-markets.

The total addressable market for fresh, wholesome, and gourmet food in urban India exceeds $100 billion and continues to expand. While quick commerce platforms have captured convenience, the category still lacks an integrated system that combines trusted sourcing, private labels, centralized infrastructure, and omnichannel distribution into a unified operating model. This structural gap creates the opportunity for a unified technology-led platform purpose-built for India’s consumption upgrade.

The Elixiir Model: Quality and Value at Scale

Elixiir Foods operates at the intersection of quality and value – delivering five-star freshness and curation at compelling prices. The platform spans Fresh Produce, Dairy, Meat, Poultry, Seafood, and daily essentials including Flours, Rice, Spices, Ancient Grains, Condiments, Snacks, Beverages, Ready-to-Eat, and Frozen Foods.

What makes this model sustainable is the integrated operating architecture:

Farm-led sourcing: Direct relationships with producer networks enable superior freshness, traceability, and quality while maintaining pricing discipline.

High-trust private label engine: The program focuses on categories where quality differentiation matters most–organic staples, ancient grains, cold-pressed oils, ready-to-eat formats–delivering superior products where branded alternatives are either unavailable or prohibitively expensive.

Technology-enabled infrastructure: The platform is omnichannel by design, supported by a centralized wholesale and supply infrastructure that ensures fresh products reach customers efficiently whether they shop in-store or order via the app.

This architecture enables Elixiir to win both the weekly household basket and daily indulgence occasions.

The Team: Operators Who Built India's Largest Food and Grocery Businesses

Arvind Mediratta and Ambuj Narayan founded Elixiir Foods after building and scaling some of India's largest food and grocery businesses over 50+ combined years.

Arvind Mediratta spent 34 years in FMCG and retail leadership at Walmart, Metro AG, Procter & Gamble, Yum! Brands, and Marico across both emerging and developed markets. As Managing Director and CEO of Metro Cash & Carry India from 2016 to 2023, he led the business through significant growth and its eventual acquisition by Reliance at a €600 million valuation. Before that, he was part of the founding team that built Walmart India's cash-and-carry business from zero to $600 million in five years.

Ambuj Narayan brings over 20 years of retail strategy and operations expertise. As CEO of Taneira at Titan Company, he scaled the brand while maintaining EBITDA profitability. At Metro, he served as Senior Vice President of All-India Operations, leading omnichannel operations, and held multiple leadership roles at Walmart India.

Together, they bring decades of operating experience across sourcing, supply systems, brand-building, and multi-market execution.Elixiir applies this hard-won expertise to serve India's next generation of consumers.

Building from First Principles

We backed Arvind Mediratta and Ambuj Narayan at the idea stage. Over the incubation period, we worked together to validate the market opportunity and stress-test the operating model. The founding team brought proven expertise and deep operational discipline – from supplier economics to store formats to technology infrastructure.

Our conviction grew as we saw how they approached building: methodical validation, capital-efficient unit economics, and execution precision.

At 3one4 Capital, our investment lens for consumer platforms focuses on category creation, operational scalability, and capital efficiency. Elixiir Foods delivers on all three. The most scalable and resilient consumer platforms emerge when format innovation and operational discipline are integrated from the very start.

What gave us conviction to lead this round was the combination of category creation opportunity, proven operating depth, and first-principles thinking. Elixiir serves the 150+ million upper-middle-class households upgrading from staples to premium categories while demanding compelling value – a segment rapidly expanding but structurally underserved by existing formats. 

The founding team brings rare operating expertise, having built the playbooks for scaling in India's most complex markets. The platform reflects a tech-enabled wholesale foundation designed for long-term growth, with operational rigor and capital discipline built in from inception.

Looking Ahead

The capital raised will be deployed toward launching Elixiir's initial presence in NCR, building out tech-enabled sourcing and private label infrastructure, and establishing the wholesale backbone for efficient scaling.

"India is no longer looking only for basics. It wants healthier food choices along with authentic gourmet cuisines: not just from different regions of India, but from around the world. Elixiir Foods is being built as a tech-native destination, positioned as the most trusted platform for fresh, healthy, and gourmet food products. We also recognize that Indian customers across all SECs are highly value-conscious, making pricing the X-factor right at the wholesale and distribution level as part of our customer proposition," said Arvind Mediratta, Founder and CEO of Elixiir Foods.

From incubation to this seed round, our partnership with Elixiir has been grounded in first-principles thinking and disciplined execution. We are excited to partner with Arvind and Ambuj as they build with the clarity and operating depth required to serve India’s evolving food preferences over the long term.

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