In a significant development in India’s evolving food retail landscape, seasoned operator Ambuj Narayan has joined retail industry veteran Arvind Mediratta as Co-Founder and COO of Elixiir Foods, a newly launched omnichannel platform focused on fresh, wholesome and gourmet food.
The NCR-headquartered venture has closed its seed funding round led by 3one4 Capital, with participation from Incubate Fund Asia. The funding marks the formal rollout of a concept that has been incubated from the idea stage, with investors helping shape its operating model and market thesis.
A Platform Built for India’s Food Inflection Point
Elixiir Foods is being positioned as a technology-driven, omnichannel food platform spanning fresh produce, dairy, meat, poultry, seafood, and daily essentials such as flours, rice, spices, ancient grains, condiments, snacks, beverages, ready-to-eat, and frozen foods.
Its core proposition is clear: clean, minimally processed, pesticide- and antibiotic-free products delivered at what the company terms “affordable premium” pricing.
The launch comes at what Mediratta describes as a structural turning point in Indian consumption. With GDP per capita crossing $2,500, urban consumers—estimated at over 150 million—are increasingly trading up from basic staples to healthier, higher-quality food options. Yet, value sensitivity remains strong across socioeconomic segments.
To address this duality, Elixiir Foods is designing pricing efficiencies at the wholesale and supply chain level rather than relying solely on retail mark-ups. The company estimates the addressable opportunity in this space at over $100 billion.
Supply Chain First, Brand Second
Unlike traditional grocery businesses that build front-end retail formats first, Elixiir’s model integrates farm-led sourcing, a high-trust private label engine, and a centralized wholesale and distribution platform. The architecture is intended to ensure consistent quality, tighter cost control, and efficient replenishment across demand channels.
The founders describe the system as one where physical discovery and digital replenishment work seamlessly together—targeting dense urban micro-markets through partner-enabled and platform-led distribution.
Mediratta’s Entrepreneurial Pivot
For Mediratta, the move marks a transition from corporate leadership to entrepreneurship after 34 years in consumer and retail leadership roles.
As MD & CEO of Metro AG India, he led one of the industry’s most closely watched turnarounds—transforming a business that had been loss-making for 14 years into a profitable billion-dollar enterprise. He also oversaw its sale to Reliance at an enterprise value of approximately €600 million.
Before Metro, he spent nearly a decade with Walmart, including senior roles in the US and as COO of Walmart India, where he helped conceptualise and scale the “Best Price” cash-and-carry format to over $600 million in sales. Earlier, as CMO of Yum! Brands South Asia, he played a pivotal role in the re-entry and rapid expansion of KFC in India.
An IIT Delhi graduate and IIM Calcutta MBA, Mediratta has been widely recognised among India’s leading business and retail executives.
Narayan’s Operational Depth
Narayan brings complementary strengths in execution and brand scaling. Most recently, he served as CEO of Taneira, where he led its transformation into a fast-growing omnichannel brand. Over three years, Taneira delivered a 70 percent sales CAGR, expanded from 20 to over 80 stores, and achieved an NPS of around 90.
Prior to that, he led sales and operations at Metro Cash & Carry India, managing a Rs. 7,000+ crore P&L across 30 large-format stores and over 5,000 employees, while steering the business toward profitability and rolling out B2B e-commerce. He was also part of the founding leadership team that helped build Walmart India’s cash-and-carry business.
A Trust-Led Play in a Fragmented Market
India’s fresh and gourmet food segment remains fragmented, with persistent gaps in sourcing transparency, quality assurance, and price stability. Elixiir Foods is positioning itself as a trust-led platform, combining disciplined supply chain management with technology and private-label control.
With Mediratta’s experience in scaling complex retail systems and Narayan’s track record in operational transformation, Elixiir Foods enters the market with seasoned leadership at the helm—betting that India’s next phase of food consumption will be driven not just by convenience, but by quality, credibility, and value.
