Three law firms have advised on the MOI SOI institutional fundraise, marking the first time the Pan Asian Packaged Food & Beverages brand has received backing from institutional investors. Ceres Foods Private Limited, the company that owns and operates MOI SOI, secured investments from GVFL Emerging Enterprise Venture Trust and Wipro Consumer Care Ventures. The transaction saw three separate legal teams engaged across the deal table.
Introduction
Ceres Foods Private Limited, owner of the Pan Asian Packaged Food & Beverages brand MOI SOI, has closed its first institutional fundraise with co-investments from GVFL Emerging Enterprise Venture Trust and Wipro Consumer Care Ventures, the venture investment arm of Wipro Consumer Care & Lighting. Following the transaction, the two investors have acquired a combined approximately 17% stake in the company. Founder Deb Mukherjee continues to hold the majority stake in the business.
Founded in October 2021 under Ceres Foods, MOI SOI offers products including sauces, chilli oils, noodles, ready-to-eat curries, and Asian beverages inspired by Korean, Japanese, Thai, and Vietnamese cuisines. The brand delivers to around 2,000 pin codes across 250 cities in India, dispatching over 6 lakh products every month.
Legal Teams Involved
Three firms advised across the parties on this MOI SOI institutional fundraise, with distinct teams acting for the company, the investor in Wipro Consumer Care Ventures, and the investor in GVFL. Full team compositions, with designations as provided, are set out below. For a broader view of recent Indian deal activity, see the Deal Meter.
DSK Legal — Advised Ceres Foods and Founder Deb Mukherjee
- Aparajit Bhattacharya — Partner (Relationship Partner and Lead Engagement Partner)
- Harvinder Singh — Partner
- Manhar Gulani — Principal Associate
- Mala Mehto — Principal Associate
- Brijesh Ranjan Sahoo — Associate
- Sumedha Tewari — Associate
IC RegFin Legal — Advised Wipro Consumer Care Ventures
- Puneet Shah — Senior Partner (Transaction Lead)
- Abhinav Gupta — Principal Associate
- Daksh Dave — Senior Associate
Sarvaank Associates — Advised GVFL
- Ankita Singh — Managing Partner (Transaction Lead)
- Sanchita Gupta — Senior Associate
- Dipanjana Das — Associate
- Aakriti Singh — Associate
Significance and Impact
This transaction represents a meaningful milestone for MOI SOI as it marks the brand’s transition from a bootstrapped, founder-funded operation to one backed by established institutional capital. Ahmedabad-based GVFL invests in early-stage and growth-stage startups, while Wipro Consumer Care and Lighting has invested in a series of consumer-focused brands through its venture capital arm across personal care, food, beauty and wellness. The entry of two such investors simultaneously underscores growing institutional confidence in India’s premium Asian packaged foods segment.
The company plans to utilise the fresh capital to strengthen its omnichannel distribution strategy, expand its presence on quick commerce platforms, and deepen its reach across modern retail channels. The bootstrapped startup is generating more than Rs 6 crore in monthly net sales.
The deal also reflects the increasingly active role of specialist and boutique law firms in advising growth-stage consumer brand transactions in India. All three firms engaged — DSK Legal, IC RegFin Legal, and Sarvaank Associates — are recognised in leading legal directories, with all three appearing in IFLR1000’s published rankings.
The first institutional fundraise for MOI SOI, with GVFL Emerging Enterprise Venture Trust and Wipro Consumer Care Ventures together acquiring approximately 17% of the business, marks a significant step in the brand’s growth trajectory. DSK Legal, IC RegFin Legal, and Sarvaank Associates provided legal advisory across all three parties to the transaction. Further details of the deal value were not disclosed.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
