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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