JM Financial Limited has made a primary investment of ₹40 crore through JM Financial India Growth Trust III, in Zoff Foods (Asquare Food and Beverages Private Limited).

Economic Laws Practice advised JM Financial on this investment deal.

The transaction team consisted of Yashojit Mitra (Partner), Vinay Butani (Partner), Smriti Tripathi (Principal Associate) and Aditi Banthia (Associate).

The investment will contribute in augmenting the brand building initiatives, enhancing the existing capacities and improving the offline distribution network of Zoff Foods.

In this new fundraise, the startup will dilute nearly 15 per cent equity according to ET. Before this, ZOFF raised Rs 1 crore at a valuation of Rs 80 crore from Boat’s Aman Gupta.

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