Elixiir Foods introduces its first retail venture FreshTerra, backed by $9 million seed funding

Fresh grocery and gourmet foods platform Elixiir Foods has introduced its first retail venture under the brand name FreshTerra, as competition in the sector heats up. Set up on an investment of $9 million in seed funding led by 3one4 Capital with participation from Incubate Fund Asia, Elixiir Foods has been founded by retail veterans Arvind Mediratta and Ambuj Narayan.

With the first FreshTerra store in Gurugram operational now, and another 12-15 planned across the Delhi-NCR region by FY28, Mediratta, founder and chief executive of Elixiir Foods said: "We are applying a survival of the strictest standard across all categories - from live-milled flours and cold-pressed oils to certified organic staples and direct farm produce.”

India’s gourmet foods market size was valued at US $ 5.4 billion in 2025 and is estimated to touch annual sales of US $ 24.5 billion by 2034, a report by IMARC Group noted. The report added that the category is experiencing significant growth, driven by the expansion of boutique bakeries, premium dessert offerings, specialised retail networks and e-commerce platforms.


Mediratta, formerly in leadership roles at Metro Cash & Carry and Walmart India among other large corporates, added: “We are reaching out to consumers who are health-conscious and willing to pay a premium for good quality food. Younger consumers too are very conscious about what they’re eating, they’re reading labels, and researching on ingredients - that’s where our focus is.”

The gourmet and fresh foods category is attracting significant investor interest. Last month, gourmet retailer Foodstories raised Rs 50 crore from Zerodha co-founder Nikhil Kamath, with participation from existing investor Narotam Sekhsaria Family Office.

Narayan, formerly with Titan, Metro Cash & Carry and Walmart India in leadership roles, and now co-founder, Elixiir Foods said: “We’re designing our backend supply chain and app experience to ensure that shopping is transparent and seamless."

The FreshTerra stores, which will be company-operated and not franchised, will focus on farm-sourced fruits and vegetables, antibiotic and chemical-free meats, poultry and seafood, and organic staples and condiments, along with private labels of FreshTerra products, at competitive prices.

A majority of FreshTerra stores will have in-house cafes.