Better Nutrition Raises ₹10 Crore Funding to Expand Products
In a significant development for the Indian food industry, Better Nutrition, the country’s first biofortified food brand, has secured ₹10 crore in funding. The investment comes from a pool of prominent investors, including Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta. This latest funding round marks a major milestone for the brand, which has seen tremendous growth since its appearance on Shark Tank India.
Better Nutrition, founded by entrepreneurs Saurabh Agarwal and Chirag Shah, is a pioneering brand that offers a range of biofortified food products, including fortified wheat flour, rice, and pulses. The company’s mission is to provide affordable and nutritious food to millions of Indians, particularly in underserved rural areas. With this latest funding, Better Nutrition aims to expand its product portfolio, strengthen its distribution network, and scale its farmer training programs.
The funding comes on the heels of the brand’s impressive growth trajectory, which has seen its revenue increase by 5x since its appearance on Shark Tank India. This rapid growth is a testament to the increasing demand for healthier and more sustainable food options in India. Better Nutrition’s biofortified products are specifically designed to address micronutrient deficiencies, which are a major public health concern in India.
The investors who have backed Better Nutrition are some of the most prominent and influential names in the Indian startup ecosystem. Namita Thapar, a Shark Tank India investor and CEO of Emcure Pharmaceuticals, has been a vocal advocate for health and wellness initiatives. Shantanu Deshpande is the co-founder and CEO of FabIndia, a leading lifestyle brand. PV Sindhu, the Olympic gold medalist, has been a brand ambassador for Better Nutrition and has been instrumental in promoting the brand’s mission.
Aclr8.vc, a leading venture capital firm, has also invested in Better Nutrition. The firm has a portfolio of successful startups, including fintech companies and e-commerce platforms. Google and Meta, two of the world’s largest technology companies, have also participated in the funding round through their venture arms.
Better Nutrition plans to use the funds to expand its product range to new categories, including staples like dal and rice. The company will also strengthen its distribution network to reach more customers across India. Additionally, Better Nutrition will scale its farmer training programs to increase the yield and quality of biofortified crops.
The company’s farmer training programs are designed to empower small-scale farmers to adopt sustainable agricultural practices and produce high-quality biofortified crops. These programs have been instrumental in increasing the yield and nutritional value of crops, while also reducing the environmental impact of farming.
The funding round is a significant vote of confidence in Better Nutrition’s mission and business model. The company’s commitment to providing affordable and nutritious food to underserved communities is in line with the government’s vision of doubling farmers’ incomes and ensuring food security for all.
In a statement, Saurabh Agarwal, Co-Founder of Better Nutrition, said, “We are thrilled to have received funding from such a prestigious group of investors. This support will enable us to accelerate our growth plans and expand our reach to more customers across India. Our mission is to make healthy food accessible to everyone, and we believe that biofortification is a game-changer in this space.”
Better Nutrition’s latest funding round is a testament to the growing interest in health and wellness initiatives in India. As the country continues to urbanize and face the challenges of a rapidly changing food landscape, the demand for healthier and more sustainable food options is likely to continue to grow.
In conclusion, Better Nutrition’s ₹10 crore funding is a significant milestone for the brand and the Indian food industry as a whole. The company’s commitment to providing affordable and nutritious food to underserved communities is a welcome development, and its innovative approach to biofortification is likely to have a lasting impact on the food landscape.
Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
