Packaged food startup Wingreens Farms is set to raise $4.3 million (INR 36.2 crore) in debt funding from over a dozen investors.
According to the startup’s regulatory filing, Wingreens Farms will allot 957,216 compulsory convertible debentures (CCDs) to various investors, including S Gupta Family Investments, Saket Agarwal, Reena Singhal, and Sanjeev Agarwal.
These CCDs will convert into Series C9 cumulative convertible preference shares (CCPS) on a 1:1 ratio. Wingreens Farms has yet to respond to a questionnaire sent prior to the publication of this story.
Founded in 2011 by Anju Srivastava and Arun Srivastava, Wingreens Farms specializes in selling packaged foods, such as healthy snacks, sauces, dips, breakfast cereals, and non-dairy milk.
Source: INC42
