Food – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com Embrace the World of Start-ups, Technology, Business, Finance and Economy Thu, 23 Jan 2025 11:29:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://www.scoopearth.com/wp-content/uploads/2023/11/cropped-favicon-sc-96x96.png Food – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com 32 32 Snack brand, Beyond Snack secured $8.3 million in its series A funding round from 12 Flag Group https://www.scoopearth.com/snack-brand-beyond-snack-secured-8-3-million-in-its-series-a-funding-round-from-12-flag-group/ Thu, 09 Jan 2025 17:24:12 +0000 https://www.scoopearth.com/?p=347744 Beyond Snack is a Banana chips brand that has secured 8.3 million USD from a consumer business-focused fund, 12 Flag Group in its ongoing series A round. The funding round saw the participation from other investors including Japanese VC firm Enrission India Capital, NAB Ventures, and Faad Network. The company plans to use these fresh proceeds to scale its operations, expand its network, improve production capability, and develop its market presence.

The startup intends to use some of this investment to strengthen its supply chain infrastructure. Beyond Snack is an internet-first brand that provides plant-based products to produce banana chips. The startup uses no artificial flavor or coloring while manufacturing chip flavors like cream, onion, salted, and pepper. The startup claims to offer snacks free of unsaturated fats, trans fats, and cholesterol. The new fund will enable the startup to expand into new areas.

The company has secured over 5.01 million USD across multiple funding rounds since its inception. This includes $3.5 million raised in its pre-series A funding round from the NAB VENTURES Fund. The startup has a post-money allotment valuation of 22.3 million USD. Before this round, the existing investor NAB VENTURES held the largest institutional stake in the firm. NAB VENTURES participated in this funding round to increase its stake in Beyond Snack.

Beyond Snacks provides its services in around 12 countries and plans to expand in the international markets. The firm claims to have already expanded its global footprint this year. The company aims to use some of this fund to improve its platform and expand its services while developing its presence in the market. The company also raised 810k USD in a funding round led by Enrission India Capital. The startup has around 11 institutional investors including Luckbox and Enrission India Capital.

The Kerala-based snack brand intends to use this amount to scale up its in-house infrastructure and improve its distribution network. The development came just after the snack sector saw increased investor interest. This investment shows investors’ trust in Beyond Snack’s market potential and business model. Beyond Snack faces competition from other banana-chip or snack-manufacturing brands such as SnacksDabba, Crizpo, and TrulyKerala.

Conclusion:

Beyond Snack is a Kerala-based internet-first brand offering snacks. The startup raised fresh capital of 8.3 million USD from the consumer business-focused fund, 12 Flags Group. The funding round saw the participation from the firm’s new and existing investors including NAB Ventures, Faad Network, and Japanese VC firm Enrission India Capital. Beyond Snack competes with other startups like Crizpo.

The company plans to use this amount to expand its services, scale its operations, and improve supply chain infrastructure. The startup also secured 3.5 million USD from the NAB Venture Fund in its pre-series A funding round in 2023. Earlier this year, the firm also raised 810k USD from Enrission India Capital in its ongoing seed round. The development came just after the snack industries saw increased public interest.

]]> Foodtech startup Rebel Foods secured $210 million from Temasek and Evolvence in its series G funding round https://www.scoopearth.com/foodtech-startup-rebel-foods-secured-210-million-from-temasek-and-evolvence-in-its-series-g-funding-round/ Thu, 12 Dec 2024 18:17:27 +0000 https://www.scoopearth.com/?p=346775 Rebel Foods is a cloud kitchen startup that offers virtual networks for food businesses. The startup secured 210 million USD in its ongoing series G funding round from Temasek. This round saw the participation of the firm’s existing investors including Evolvence. This fundraising was a mix of primary and secondary share sales. The startup plans to use these fresh proceeds to scale its business, improve its platform, expand its footprint, and strengthen its presence while enhancing its brand portfolio.

The food tech firm aims to use some of this investment to expand its network in India. The company has secured around 516 million USD across multiple funding rounds since its inception, including the $13.2 million raised during its conventional debt funding round from Alteria Capital and Innoven Capital. The startup operates a chain of restaurants and manages several food brands through its virtual network. The equity round came after a three-year gap for the firm. Rebel Foods raised around 50 million USD through five tranches in the last two years.

The startup intends to use this investment to improve its offerings while expanding its customer reach. The company leverages cloud kitchen platforms and offers an operating system of culinary innovation, cooking equipment, and a robust supply chain. The firm also provides technology to manage sales and revenue for food businesses. The company operates over 450 cloud kitchens worldwide, including around 75 in Indian cities, Indonesia, the UK, and the MENA region. The startup receives investments from Peak XV, Evolvence India, Qatar Investment Authority, and Couture.

The Mumbai-based startup saw an increase in its revenue from operations to Rs 1,420 crore in FY24. The firm saw a 42 percent increase in its losses to Rs 378 crore in the same duration. The development came just after the cloud kitchen platform got approval from the Competition Commission of India. Revel Foods emerged as the largest player in the cloud kitchen and food tech sector. Before this round, the existing investor, Sequoia Capital was the firm’s largest institutional investor. This investment shows the investor’s trust in Rebel Food’s market potential and business model. Rebel Foods faces competition from other cloud kitchen platforms including Biryani By Kilo, Curefoods, Bigspoon, HOI Foods, and others.

Conclusion:

Rebel Foods is a cloud kitchen platform that raised $210 million in its ongoing series G funding round from the participation of Evolvence and Temasek. This funding round was a mix of primary and secondary share sales. The company intends to use this fresh capital to improve its online platform, expand its network, and enhance its portfolio brand. The startup has secured around 516 million USD across 21 funding rounds since its inception.

This food tech firm manages food brands and products including restaurants. The company provides services in 75 Indian cities with 450 cloud kitchens and serves customers across various locations. Rebel Foods posted a revenue of Rs 1,420 crore in FY24 and it competes with cloud kitchen platforms like Cure Foods, EatClub, and Biryani By Kilo.

]]> D2C food brand Wicked Gud secured Rs 20 crore from Orios Venture Partners in its fresh funding round https://www.scoopearth.com/d2c-food-brand-wicked-gud-secured-rs-20-crore-from-orios-venture-partners/ Wed, 04 Dec 2024 10:56:18 +0000 https://www.scoopearth.com/?p=346692 Wicked Gud is a D2C startup that offers an online platform focused on noodles and Pasta. The startup secured Rs 20 crore in its ongoing funding round led by Orios Venture Partners. The funding round saw the participation of several new and existing investors such as the Asiana Fund. These processing and sales of food products are the company’s primary sources of revenue. This D2C brand provides multi-category products including oats, noodles, pasta, and more. 

The company plans to use this fresh capital to scale its distribution network, increase its brand presence, launch new products, enhance its platform, and strengthen its team. The startup provides a variety of healthy and indulgent food products. The company focuses on improving its existing portfolio while expanding its product development. Wicked Gud uses convection air drying and other advanced technologies for its manufacturing process. The company plans to expand its offerings and add Korean flavors to its instant cup noodle categories. 

The startup offers its products through D2C websites, offline supplement stores, and other e-commerce and quick-commerce platforms. The company aims to strengthen its quick-commerce presence and launch new products. The startup reported a growth of five times in the last two years. Wicked Gud has secured over $3.59 million across five funding rounds since its inception, including the $250k raised from GetVantage during its funding round in June 2023. The startup aims to use this investment to expand its distribution network while developing a market presence in the Indian D2C market.

The Mumbai-based startup offers its products through its omnichannel distribution network. The firm has its products in around 2,000 retail outlets, Freshpik stores, Signature, and 400 reliance SMART bazaars. The startup focuses on a multi-channel mode of marketing. The data intelligence platform, tracxn mentioned that after this round the post-money allotment valuation of the firm is around 7.89 million USD. 

Wicked Gud receives its investment from Mumbai Angels, Titan Capital, NB Ventures, and others. This investment highlights the investors’ trust in this Shilpa-Shetty-backed D2C food product brand. The development came when the D2C market saw a trend of celebrities backing up food startups with increased investor interest. The Internet-first brand of pasta and noodles products faces competition from other platforms in the same segment such as Nutrahelix, Moms Choice, and Short Foods.

Conclusion :

D2C food brand, Wicked Gud secured Rs 20 crore in its ongoing funding round from the Orios Venture Partners. The round saw the participation of other investors including Asiana Fund. The startup plans to use this investment to expand its product portfolio, improve its production capability, and increase its distribution network while strengthening its team. 

The company aims to introduce Korean flavor in its instant cup noodles. The development came just after the D2C food market saw an increased investor interest. The food brand competes with other companies in the same market segment including Moms Choice. This investment will enable the firm to develop its quick-commerce presence.

]]> Food and drink offering startup Paper Boat reported a revenue of Rs 585 crore with a 48 percent slip in its losses in FY24 https://www.scoopearth.com/food-and-drink-offering-startup-paper-boat-reported-a-revenue-of-rs-585-crore/ Tue, 19 Nov 2024 12:21:22 +0000 https://www.scoopearth.com/?p=346520 Paper Boat is an internet-first brand that announced a 16.1 percent increase in operational revenue to Rs 584.9 crore in FY24. The startup provides soft drinks and beverages. The firm also offers raw almonds, trail mixes, pistachios, and more.  The platform provides a product catalog including packaged juices, traditional Indian snacks, dry fruits, and coconut water. The trade of these products is the company’s primary source of revenue and accounts for 52 percent of the total revenue. 

The report by Entrackr mentioned that the firm also earns income through its own manufactured products which accounted for 48 percent of the total revenue. The sale of its products increased the revenue by 16 percent to Rs 304.3 crore in FY24. The overall revenue generated was around Rs 595 crore in this financial year. This includes money from interest income worth Rs 10 crore. The company has secured over $143 million across multiple funding rounds since its inception, including $50.2 million raised during its series D funding round led by Lathe Investment.

The startup data intelligence platform, thekredible mentioned that GIC is the company’s largest stakeholder with 25 percent of the firm’s stake. Sofina holds 18 percent followed by Peak XV partners with 18 percent of the total stake. The startup allows users to buy its products through quick-commerce platforms and offline stores. The cost of materials accounted for 63 percent of the total expenses and increased by 6.4 percent to Rs 404 crore in FY24. However, advertising, finance, marketing, and other expenditures stood at Rs 171 crore in the same duration.

The firm’s total expenses increased by 7.2 percent and stood at Rs 642.3 crore in FY24. The startup reported a 47.9 percent decrease in its losses of Rs 47.14 crore in the same duration. Meanwhile, the employee benefits increased by 22 percent to Rs 66.70 crore. The Bengaluru-based startup offers quality products while meeting market demands. The company intends to control its losses by reducing employee benefits.

The startup posted cash and bank balances of Rs 168 crore in this fiscal year with current assets of Rs 305 crore. The EBITDA margin stood at -5.63 percent while the ROCE was around -15.45 percent. Paper Boat faces competition from other internet-first brands offering soft drinks, nuts, and beverages such as Farmley.

Conclusion :

The soft drink and beverages offering firm, Paper Boat announced a 16.1 percent increase in its operational revenue to 584.9 crore in FY24. This startup provides dry fruits, Indian traditional snacks, packaged juices, and coconut water. The trade of these products and interest in income are the firm’s primary sources of revenue. 

The firm’s loss slipped by 47.9 percent to Rs 47.14 crore in FY24. The total expenditure of the firm increased by 7.2 percent and crossed Rs 642.3 crore in the same duration. The employee benefits increased by 22 percent to Rs 66.70 crore in FY24. The company has secured over 143 million USD across multiple funding rounds to date.

]]> Food and beverages startup, Burger Singh reported a revenue of Rs 78 crore with a 531 percent increase in losses in FY24 https://www.scoopearth.com/food-and-beverages-startup-burger-singh-reported-a-revenue-of-rs-78-crore-with-a-531-percent-increase-in-losses-in-fy24/ Fri, 15 Nov 2024 12:45:43 +0000 https://www.scoopearth.com/?p=346480 Burger Singh is a quick-service restaurant that offers a variety of burgers across India. The startup announced a 34.4 percent increase in its operational revenue to Rs 77.7 crore in FY24. The firm provides burgers incorporating Indian ingredients and flavors to create a diverse customer base. The company’s primary source of revenue was the sales from its stores, franchise services, and franchise goods sales.

The startup also earns its income through food and beverages accounting for 48 percent of the total operating revenue in FY24. Entrackr reported. The company operates in a quick-service restaurant model. These sales for this financial year increased by 60 percent and the sale of franchise stores also increased and stood at Rs 28.6 crore in this financial year. However, the net loss also increased by 531.2 percent compared to the last fiscal year and stood at Rs 27.9 crore in FY24. The startup earned Rs 10.81 crore from sales of franchises increasing the total income in the same duration.

Burger Singh offers an online platform and offline stores emphasizing customer service. The company also provides options for franchise and bulk order opportunities. The company also offers customized and home delivery options to its customers. The total expenditure of the firm increased by 43.7 percent to Rs 91.1 crore in FY24. The cost of procurement accounted for 43 percent of the total cost and grew by 31.3 percent to Rs 39.2 crore in FY24.

Employee benefits grew by 54 percent following the increase in workforce and stood at Rs 18.37 crore for this financial year. The advertising, legal, secondary packaging, transportation, commission, and other expenses pushed the total expenditure to Rs 91.1 crore in FY24. The Gurugram-based startup has raised around 17 million USD across 12 funding rounds, including $3.75 million secured from RB investments, Negan Capital PMS, and other investors during its series A funding round.

The food and beverages startup focuses on improving its brand presence and customer service. The startup plans to minimize losses through its cost-cutting measures. The EBITDA margin stood at -30.94 percent while the ROCE was reported to be around -94.76 percent in the same duration. Burger Singh posted cash and bank balances of Rs 19.51 crore. The company faces competition with other burger manufacturing restaurants such as Good Flippin and McDonald’s.

Conclusion :

Burger Singh is a quick-service restaurant chain that reported a 34.4 percent increase in operational revenue to Rs 77.7 crore with a net loss of Rs 27.9 crore in FY24. This online platform offers various burgers with Indian Flavors and ingredients. These food and beverage sales with franchise services are the company’s primary sources of revenue. 

The firm’s total expenditure increased by 43.7 percent and crossed Rs 91.1 crore in the same duration. Employee benefits increased by 54 percent in this financial year. The company offers a variety of burgers meeting a diverse audience. Burger Singh competes with other food and beverage platforms such as McDonalds. 

]]> Food delivery startup MealMe secured $8 million from Mercury Fund and others during its Series A funding round https://www.scoopearth.com/food-delivery-startup-mealme-secured-8-million-from-mercury-fund-and-others-during-its-series-a-funding-round/ Sat, 02 Nov 2024 16:47:54 +0000 https://www.scoopearth.com/?p=346131 Mealme is an app-based food delivery startup that offers an online platform with a feature to search restaurants using an artificial intelligence-based explore page. The startup secured 8 million USD in its ongoing series A funding round led by Mercury Fund. The maiden ongoing funding round saw the participation of several new and existing investors including Gaingels and Palm Drive Capital. These delivery services, processing, and commissions are the company’s primary sources of revenue.

The company plans to use these fresh proceeds to scale its production capability, enhance its platform, and increase store selection. The startup provides products directly from restaurants to the customers. The platform allows users to browse several restaurants and compare delivery times and prices with each other. The company also intends to use some of this investment for developer support and increased customer reach. The startup is a restaurant, retail, and grocery ordering application for food ordering.  

The startup claims to provide inventory data on more than 1 billion products from 1.2 million restaurants, retailers, and grocery stores across Canada and the U.S. The company operates in several parts of Canada and has over 100 clients including TripAdvisor, Favor Delivery, and more. MealMe has secured over 12.2 million USD across two funding rounds since its inception, including the series A funding round of $9.24 million in March this year. The startup aims to use this investment to expand its connections and stores while developing a market presence in the food delivery segment.

The US-based food delivery startup works on a B2B model and offers a platform that allows users to pull menus, invent, and send orders to stores. The startup is focused on expanding into the e-commerce and AI market. The data intelligence platform, tracxn mentioned that the company previously secured 3 million USD from its existing investors CP Ventures, Palm Drive Capital, and other investors during its seed funding round in 2021.

Mealme has around 10 institutional investors including Evolution VC partners, Techstars, and Palm Drive Capital. The investment shows the investor’s trust in Mealme’s market potential and business model. The development came just when the e-commerce market saw increased investor interest. The app-based platform offering food ordering services faces competition from other platforms in the same segment such as Foodboss, Restaurant.com, and Availyst.

Conclusion:

The online food delivery startup, MealMe secured 8 million USD in its ongoing series A funding round from the Mercury Fund with the participation of other investors including existing investors Palm Drive Capital and Gaingels. The startup plans to use this investment to scale its services, improve its performing capability, strengthen its marketing efforts, and grow better developer support. This investment will enable the firm to enhance its online brand presence.

The company aims to expand into the AI and e-commerce market. The development came just after the food market saw an increased investor interest. The food delivery platform faces competition from other delivery services including FoodBoss.

]]> Food tech major Zomato expanded its ESOP pool size by allocating a new ESOP worth Rs 328 crore https://www.scoopearth.com/food-tech-major-zomato-expanded-its-esop-pool-size-by-allocating-a-new-esop-worth-rs-328-crore/ Fri, 04 Oct 2024 12:40:46 +0000 https://www.scoopearth.com/?p=345566 Zomato is a food and grocery delivery platform that expanded its Employee Stock Option Plan by offering its employees more than 1.2 crore stock options to its existing ESOP plan. These newly allocated shares are worth around Rs 328 crore. The food tech firm acts as a discovery platform to order food delivery from nearby restaurants. The company provides its services through its online platform and mobile application. The company enables users to browse the menu and order food online. 

The National Stock Exchange filing shows that the board passed a resolution to allot 1,19,97,768 stock options at a certain face value. The startup will grant these stock options under the Foodie Bay Employee Srock Option Plan 2014.

The development came just three months after Zomato received shareholder approval to expand its ESOP plan valued at 458 million USD. The food tech firm allows restaurants to add its name to the website and serve customers through Zomato. This Gurugram-based startup has raised around 1.69 billion USD across multiple funding rounds since its inception, including $252 million secured from Kora in its series J funding round. 

The development came when the company was focused on its Employee Stock Option Plan. Zomato is currently trading at Rs 276 crore with a total market capitalization of 29 billion USD. Before this, Zomato allocated 35.17 lakh stock options worth Rs 81.4 crore in its employee stock option Plan.

This marks the second time the firm has expanded its Employee Stock Option Plan in the past months. Zomato also introduced a new addition to the application that enables customers to delete their history. Earlier, this year, the food tech major acquired Paytm’s ticketing and movie business to strengthen its market presence. The food-tech startup plans to expand its network in the food delivery market segment.

Zomato reported its revenue for the first quarter of this financial year to be around Rs 4,206 crore. The company posted an 18.1 percent QoQ growth and the profit stood at Rs 253 crore in the same duration. This food-tech startup plans to solidify its position in the Indian food-tech market segment.

Zomato competes with other food or grocery delivery platforms including Swiggy, Deliveroo, and Eatsure. This year several public companies like PB Fintech, TBO Tek, and Nykaa increased their Employee Stock Option Plan pool size. 

Conclusion :

Zomato expanded its employee stock option Plan by allocating 1.2 stock options under its Foodie Bay Employee Stock Option Plan 2014. These newly allocated shares are worth around Rs 328 crore. The online e-commerce platform offers food and grocery delivery services with a facility that allows its users to track their orders.

This is the second time this company has expanded its employee stock option plan in the last month. The board at Zomato approved the allocation of 1,19,97,768 employee stock option plan options under its ESOP 2014 scheme. The company has raised around 1.96 billion USD across 18 funding rounds since its inception and it competes with platforms like Swiggy.

]]> Snack brand, Troo Good secured Rs 72 crore in its new funding round from Oaks Asset Management and others https://www.scoopearth.com/snack-brand-troo-good-secured-rs-72-crore-in-its-new-funding-round-from-oaks-asset-management-and-others/ Tue, 01 Oct 2024 11:41:31 +0000 https://www.scoopearth.com/?p=345387 Troo Good is a millet-based snack brand that has secured Rs 72 crore in its fresh funding round. This funding round was led by Oaks Asset Management and had the participation of other investors, including V Ocean Investments and Puro Wellness. Existing investor Oaks Asset Management led the round with Rs 37 crore followed by Puro Wellness with Rs 25 crore and the rest of the Rs 10 crore came from V Ocean Investments.

The board has approved a resolution to allot 10,176 equity shares at a certain issue price to raise Rs 72 crore. Entrackr reported. According to the company filing, the startup will use these fresh proceeds to expand its operations and meet the working capital purposes. Troo Good is an internet-first brand that provides millet-based snack food products including nutrition bars, chocolates, and cookies. The startup claims to sell around 2 million millet chikkis and other millet snacks per day. This investment shows investors’ trust in Troo Good’s market potential and business model.

The startup has secured over Rs 132 crore across multiple funding rounds since its inception, including Rs 55 crore raised from Oaks Management in its series A funding round. The startup data intelligence platform, thekredible mentioned that the post-money allotment valuation of the firm will be around Rs 322 crore. After this round, the existing investor Oaks Asset Management holds the largest external stake with 28.89 percent followed by V Ocean Investments with 14.28 percent of the total stake. Puro wellness accounts for 7.75 percent of the firm’s stake.

Troo Good reported a 7 percent increase in its revenue to Rs 52.7 crore in FY23. The startup managed its expenses and with effective cost management, it achieved profitability during the same duration. The company aims to use some of this fund to strengthen its platform and expand its services while developing its brand presence in India.

Troo Good intends to use this amount to scale up its in-house infrastructure, improve its production capability, and advance its technology. The development came just after this sector saw increased investor interest. Troo Good faces competition from other cereal products or snack manufacturing platforms such as Madmix, Soulfull, and Slurrp Farm, which raised $7.2 million in January last year.

Conclusion :

Troo Good is a Hyderabad-based startup offering millet-based snack food products. The startup got fresh capital of Rs 72 crore from Oaks Asset Management. The funding round had participation from other investors including Puro Wellness and V Ocean Investments. The company plans to use this amount to scale its operations and meet general corporate or working capital purposes.

Oaks Asset Management led the round with Rs 37 crore while Puro Wellness invested Rs 25 crore followed by V Ocean Investments with Rs 10 crore. After this round, the existing investor Oaks Asset Investments holds the largest external stake with 28.89 percent. The company’s board approved the resolution to issue 10,176 equity shares to raise this amount. 

]]> Dairy-tech startup ORIGHT raises $1 Million in seed funding https://www.scoopearth.com/dairy-tech-startup-oright-raises-1-million-in-seed-funding/ Tue, 24 Sep 2024 10:28:53 +0000 https://www.scoopearth.com/?p=345035 ORIGHT, a recently founded startup in Gurugram, India, has closed its $1 million seed funding round with Aeravti Ventures. The Loyal VC company previously invested $847,000 and had also joined in this funding round. FutureCap is to help ORIGHT take its platform to the next level, develop new product lines, and increase the benefits for farmers, processors, and distributors it collaborates with. 

Technology and Challenges

Some of the IoT devices developed by ORIGHT target to track the quality of milk as it is being processed and even as it is being transported. These instruments record milk status in chillers, during transport in the vans, and at the time of packaging. The collected data is then forwarded to a blockchain network, thus making the data unchangeable and transparent. Customers get daily information on the quality of their milk can be easily trusted through the product.

The quality issues are other problems affecting the dairy industry such as adulteration in the food products that dominate the industry’s production process. Nonetheless, the problems stated above are solved by the fact that through the availability of ORIGHT’s technology stakeholders can get and analyze real-time information to go by. Through increasing transparency and traceability, ORIGHT contributes towards the improvement of the latter and the stabilization of the dairy supply chain.

Mission and Expansion Plans of ORIGHT

One of ORIGHT’s main goals focuses on enhancing the capacity of farmers and processors through equipping them with knowledge and resources required to help them. This is a useful tool that provides information on milk quality and performance of the supply chain for the startup to assist farmers in improving the results of their operations for enhanced profitability. As for processors, improved quality is maintained together with a decrease in the probability of adulteration.

With the new funding, ORIGHT was gearing up for an expansion of its platform and the introduction of new products. The company also has its vision to spread its operation to reach more farmers, processors, and distributors and have more influence in the dairies. Furthermore, ORIGHT will continue to enhance the technology used to increase its knowledge and understand better, the advancement in the field of milk traceability.

Aeravti Ventures, the lead investor

Aeravti Ventures who are the leading investors in this funding phase have a rich portfolio of funding advanced technological startups as well as agricultural-based ventures. Their stake in ORIGHT reflects the belief in the capabilities of the startup to revolutionize the dairy industry. This financial input for Aeravti Ventures will be vital for ORIGHT to achieve its growth and expansion initiatives. 

High Potential for Growth 

The dairy-tech industry has a high potential for growth due to the general public becoming more aware of where their food is coming from and the quality of the products that they are consuming. The global dairy market has been estimated by various sources, will be valued at $703.5 billion by the end of 2025. It is likely to achieve a CAGR of 5.5 % in the future. The advances in technologies and, for instance, the ORIGHT solution, define how the industry will look in the future. 

Conclusion

The successful seed funding round signifies a crucial step in ORIGHT’s evolution toward disrupting the dairy industry. New investors Aeravti Ventures and others help the startup to advance its capabilities and capacities and increase its offerings targeting various stakeholders in the dairy value chain. With new strategies and formats, ORIGHT will inevitably take on a significant role in determining transparency, quality, and sustainability in the dairy sector. 

]]> D2C health food brand Alpino secured $1.2 million from Shilpa Shetty in its maiden funding round  https://www.scoopearth.com/d2c-health-food-brand-alpino-secured-1-2-million-from-shilpa-shetty-in-its-maiden-funding-round/ Tue, 17 Sep 2024 12:06:08 +0000 https://www.scoopearth.com/?p=344754 Alpino is a D2C startup that offers an online platform focused on health food products. The startup secured Rs 10 crore in its ongoing maiden funding round led by Actress Shilpa Shetty. The maiden institutional funding round saw the participation of several new and existing investors including angel investors Paresh Ghelani. These services, processing, and sales of health food are the company’s primary sources of revenue.

The company plans to use this fresh capital to scale its production, increase its offline presence, launch new products, enhance its platform, and expand its services. The startup provides products directly from stores to the customers and operates as brand retail stores. The company focuses on developing its offline market presence. Alpino will be opening more brand outlets this financial year.

The company sells peanut-based products including peanut butter, peanut protein isolate powder, and super-rolled oats. Entrackr reported. The startup offers its products through D2C websites, offline supplement stores, and other e-commerce websites like nig basket. The company aims to strengthen its quick-commerce presence and launch around 20 new products in the next two years. After this Funding round, Shilpa Shetty became Alphino’s brand ambassador. 

This D2C brand provides multi-category products including proteins, oats, cookies, stix, multivitamins, and instant coffee. The founder of Alpino, Chetan Kanani told inc42 that the dedication of Shilpa Shetty towards transforming India’s health approach and her sincerity towards product make her a perfect face for the brand.  The startup claims to have provided its products to more than 2.5 million customers till now. Alpino has secured over $2.45 million across four funding rounds since its inception, including the maiden funding round. The startup aims to use this investment to expand its stores while developing a market presence in the Indian market.

Alpino reported a revenue of Rs 73 crore in FY23. The company aims to achieve Rs 500 crore in the next two years. The startup focuses on a multi-channel mode of marketing. The data intelligence platform, tracxn mentioned that after this round the post-money allotment valuation of the firm is around 8.36 million USD. The Internet-first brand of peanut-based products faces competition from other platforms in the same segment such as My Fitness and Spice Story. The development came when India’s market saw a trend of celebrities backing up food startups.

Conclusion :

D2C health food startup, Alpino secured 1.2 million USD in its ongoing maiden funding round from the Bollywood actress Shilpa Shetty with the participation of other angel investors including Paresh Ghelani. The startup plans to use this investment to scale its operations, improve its production capability, and increase its omnichannel network while developing its offline market presence.

This investment will enable the firm to strengthen its quick-commerce presence. The company aims to launch over 20 new products in the portfolio by the next two years. The development came just after the Indian food market saw an increased trend of celebrities investing in startups. The D2C health food brand competes with other companies in the health food or supplement market segment including Happy Jars.

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