Timla Foods, a fledgling popcorn supplier based in India, has attracted investment from local private-equity firm Anicut Capital.
The buy-out house has put US$2m into Timla Foods, which markets the popcorn snacks under the Popicorn brand.
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Timla Foods chief executive Prasanth Gowiraju said the backing would help the Hyderabad-based popcorn maker grow, with the firm eyeing new major cities in India.
The company, set up two years ago, has a presence in Andhra Pradesh, Delhi and Telangana but is looking at potentially securing new customers in Bengaluru, Chennai, Madurai, Mumbai and Pune.
Timla Foods has a production facility in Andhra Pradesh and is lining up a site in the north of the country.
Popcorn is an active market in India. A notable recent launch came last month when local food manufacturer Modi Naturals, the company behind the Oleev cooking oil brand, entered the popcorn market with a new brand, Pipo.
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