Better Nutrition Raises ₹10 Crore Funding to Expand Products
In a significant development, Better Nutrition, India’s first biofortified food brand, has secured a whopping ₹10 crore funding to expand its products, strengthen its distribution network, and scale its farmer training programs. The funding round saw participation from a diverse group of investors, including Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta.
This latest funding follows the brand’s remarkable growth, which has seen a 5x increase in sales after its appearance on Shark Tank India. The company’s previous funding round in 2022 raised ₹3.1 crore, and this new infusion of funds will enable Better Nutrition to further accelerate its expansion plans.
Better Nutrition’s biofortified food products are designed to address the alarming rates of malnutrition in India. The company uses cutting-edge technology to fortify its products with essential micronutrients, making them a game-changer in the fight against malnutrition. By securing this significant funding, Better Nutrition is poised to take its mission to the next level.
The company plans to utilize the funds to expand its product portfolio, which currently includes a range of rice, wheat, and lentil-based products. Better Nutrition will also use the funding to strengthen its distribution network, which currently reaches over 10,000 retail outlets across the country. The brand aims to increase its retail presence to 50,000 outlets in the next 18 months.
Another key area of focus for Better Nutrition will be scaling its farmer training programs. The company has already partnered with over 5,000 farmers across India to promote sustainable agriculture practices and improve crop yields. With the new funding, Better Nutrition plans to increase its farmer training programs to 20,000 farmers, thereby empowering more small-scale farmers to produce high-quality crops.
Commenting on the funding, Mayank Bansal, Co-Founder of Better Nutrition, said, “We are thrilled to have secured this significant funding, which will enable us to scale our operations and expand our reach. Our mission is to make healthy, nutritious food accessible to every Indian, and we believe that this funding will help us achieve that goal.”
The investors who participated in this funding round have also expressed their enthusiasm for Better Nutrition’s mission. Namita Thapar, Managing Director of Emcure Pharmaceuticals, said, “I am excited to be a part of Better Nutrition’s journey. The company’s commitment to using technology to address malnutrition is truly inspiring, and I believe that its products have the potential to make a significant impact on the lives of millions of Indians.”
Better Nutrition’s success is a testament to the growing interest in health and wellness in India. The country’s healthcare sector is expected to reach a valuation of $280 billion by 2025, driven by increasing awareness of the importance of healthy living. With its innovative approach to food fortification, Better Nutrition is well-positioned to capitalize on this trend and become a leading player in the health food market.
In conclusion, Better Nutrition’s ₹10 crore funding is a significant milestone in the company’s journey to make healthy food accessible to every Indian. With its commitment to using technology to address malnutrition, the company is poised to make a significant impact on the lives of millions of people across the country.
Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
