Why this £400,000 investment could be recipe for spreading Scottish healthy curries nationwide

A Scottish frozen food business that has carved a reputation for delivering authentic Indian cuisine across Britain is to further expand its presence and grow its “curry club” after securing six-figure investment.

Founded by husband and wife team Praveen and Swarna Kumar, who were born and educated in rural Southern India, Perth-based Praveen Kumar’s ready meals are available in major retailers such as Asda and House of Bruar, and are crafted using spices from the Kumar family farm in India. The growing firm has now secured a £400,000 investment from the Investment Fund for Scotland’s Equity Finance fund, managed by Maven Capital Partners and delivered by the British Business Bank.

The fresh cash injection will enable the business to continue its roll out across new and existing retailers and local independent stores. Funding will also support the growth of the company’s sales and marketing function as its curry club expands nationwide. The Kumars set up the venture as they wanted to provide the same authentic, Indian cuisine they grew up with to the UK consumer.

Perth-based Praveen Kumar’s premium Indian ready meals are available in major retailers and online.

Praveen Kumar said: “It has been a pleasure working with the team at Maven and I am very grateful for all their support. The funding 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.”

Rob Stevenson, investment manager at Maven, added: “The business has achieved impressive growth to date, and Praveen is an entrepreneurial CEO with a wealth of experience in the restaurant and hospitality sector. With consumers increasingly turning to ready meals as a substitute for traditional takeaway options, we're delighted to back the company to drive the growth of its premium product and support Praveen and his team as the business scales.”

The transaction marks the fourth investment made through Equity Finance. The fund has also backed 3D printed micro-tumour specialist Carcinotech, medtech company Calcivis and Glasgow University spinout Nami Surgical. The £150 million Investment Fund for Scotland provides loans from £25,000 to £2m and equity investment up to £5m.