Korean food-focused startup Gimi Michi has raised $1 million in a seed funding round led by IndiaQuotient, with participation from DeVC, Titan Capital, and IIMA Ventures.
Founded by Nishank Goyal, Akhil Kumar, and Bodhi Rathor, the Gurugram-based startup is building an authentic Korean FMCG brand for Indian consumers. The founding team brings experience across consulting and consumer brands, including BCG, Mondelez, and AB InBev.
The fresh capital will be used for product development, team expansion, brand-building initiatives, and strengthening distribution across quick commerce platforms, the company said in a press release.
Launched around six months ago, Gimi Michi currently operates in the Korean ramen category and claims to have become the top-selling noodles brand on Flipkart. The company said it has crossed Rs 1 crore in monthly net sales and has been growing at around 60% month-on-month with a single product offering.
According to the startup, nearly half of its sales come from Tier II and Tier III cities. It also reported repeat purchase rates that are significantly higher than the category average across e-commerce and quick commerce channels.
The company is betting on the rising popularity of Korean culture in India through K-dramas, K-pop, and social media. Goyal said Gimi Michi was launched with the view that Korean food could see adoption similar to Korean entertainment, as consumers are already familiar with Korean cuisine and are looking for authentic products at accessible price points.
Kumar added that Korean cuisine has the potential to become a major food trend among Gen Alpha consumers, much like Chinese and Italian cuisines did in earlier decades.
The market opportunity is also gaining attention. Industry estimates suggest the Indian ramen market could exceed $1 billion over the next decade, while Korean noodles account for a significant share of noodle sales on quick commerce platforms. Several large FMCG companies, including ITC Limited, Nestlé, and Hindustan Unilever Limited, have introduced Korean-inspired product lines in recent months.
Going forward, Gimi Michi plans to expand beyond ramen into categories such as sauces, snacks, and ready-to-eat products as it seeks to build a dedicated Korean food brand in India.
Source link
