Perth-based premium Indian ready meal brand Praveen Kumar has landed a £400,000 equity investment from the Investment Fund for Scotland (IFS).
The funding, managed by Maven Capital Partners and delivered by the British Business Bank, marks a significant milestone for the company’s growth plans. Praveen Kumar, founded by the eponymous chef and his wife Swarna, both hailing from rural Southern India, provide ready Indian meals in the UK.
Praveen and Swarna's business journey in the UK started when they opened Tabla Restaurant in Perth, Scotland, in 2009. A decade later, they ventured in Indian ready meals.
Praveen Kumar’s frozen curry range, which boasts restaurant-quality flavours, is currently available in several UK retailers, including supermarket ASDA as well as in several independent convenience stores as well. The £400,000 injection from IFS Maven Equity Finance is expected to support Praveen Kumar’s ambitious expansion strategy.
The funding will facilitate the company’s continued roll-out across new and existing retailers, as well as local independent stores. Additionally, a portion of the investment will be allocated to bolstering the company’s sales and marketing efforts, particularly as its award-winning ‘Curry Club’ expands nationwide.
Maven Scotland stated, "We are delighted to announce our £400,000 equity investment in Praveen Kumar - Authentic Indian Cuisine, a Perth-based producer of premium, restaurant-quality Indian ready meals. Since it was founded in 2019, Praveen Kumar has quickly established itself as a trusted brand, offering a taste of authentic Indian cuisine to homes across the UK.
"This investment, made through the Investment Fund for Scotland (IFS) and delivered by the British Business Bank, will support the expansion of Praveen Kumar’s online Curry Club and strengthen their retail partnerships nationwide."
Praveen Kumar stated on social media, "The funding of £400K will help fuel our ongoing business growth via our online curry club and growing retail partners across the country, supporting our ongoing mission to make our authentic, healthy dishes available to everyone across the UK."
