Indian food firm gets £200k to help it grow
INVESTMENT TO FUND EXPANSION OF THE BRAND
A FOOD-TO-GO concept set up to challenge the way people buy Indian food has received a £200,000 investment.
Tuk In Foods secured the funding to help it push ahead with its growth plans, including a premium ready meals range, an online delivery service and a collaboration with Michelin-starred chef Sajeev Nair.
The business, in Leicester, was launched in 2015 by Tom Cropper, who decided to leave a career in financial services and follow his passion for food.
It now sells a range of Indian ready meals, including £45 family packs and a range of £6 curries in partnership with Sajeev.
Its ready-to-eat “curry in a naan” and other lines can be found in close to 1,000 stores across the UK.
The business also recently launched a premium ready meals range with Tesco, in Tesco’s Jacks chain of stores, and Tuk In Foods’ online store is now operational.
The funding has come for First Enterprise – Enterprise Loans via the Midlands Engine Investment Fund (MEIF).
Tom said: “I had the idea of a ‘curry in a naan’ back when I was a student in Cambridge and, after a few years of trial and error, I’m delighted the idea is finally taking off.
“The past few years have been focused on getting the products, branding and packaging right, as well as testing the market, but now we are very much ready for the next phase of growth.
“In order to scale the business and list within supermarkets and key retail shops, we need to invest to meet the potential demand.”
I had the idea of a “curry in a naan” when I was a student. I’m delighted the idea is finally taking off
Tom Cropper
Matthew Wright, business adviser at First Enterprise – Enterprise Loans, said: “We’re really pleased to support Tom and Tuk In Foods with this investment.
“The convenience food sector is a competitive market.
“However, the product is excellent – in my opinion there is nothing quite like it – and with a range of customer-focused products in development, backed by an experienced team, I know the firm is set to do great things.
“We wish the team the best of luck.”
The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MEIF has more than £250 million to help Midlands SMEs grow.
It is a collaboration between the British Business Bank and 10 local enterprise partnerships in the West Midlands and East and South East Midlands.
Lewis Stringer, senior manager at the British Business Bank, said: “This latest funding into Tuk In Foods demonstrates some of the
ways MEIF funding can be used to help a business develop product lines and increase their customer base.
“We are pleased to be supporting another business achieve growth ambitions and would encourage other SMEs across Leicestershire and beyond to consider the finance options available through the MEIF.”
Kevin Harris, chairman of Leicester and Leicestershire Enterprise Partnership board of directors, said: “Tuk In Foods is another fantastic example of the innovation and entrepreneurship shown by many of our micro and small businesses across Leicester and Leicestershire.
“I am delighted it has been successful in securing the MEIF funding and wish it every success.”