Better Nutrition raises ₹10 crore funding to expand products
In a significant development, Better Nutrition, India’s first biofortified food brand, has secured ₹10 crore in funding from a group of investors. The brand, which has witnessed tremendous growth, including a 5x increase in its valuation post its appearance on Shark Tank India, will utilize the funds to expand its product offerings, strengthen its distribution network, and scale its farmer training program.
The funding round saw participation from several prominent investors, including Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta. This latest funding marks a significant milestone for the brand, which has already raised ₹3.1 crore in 2022.
What is Better Nutrition?
Better Nutrition is a pioneer in the biofortified food space, which involves fortifying crops with essential micronutrients to enhance their nutritional value. The brand’s mission is to provide high-quality, nutrient-rich food products to consumers, particularly in rural areas where access to nutritious food is limited. Better Nutrition’s products are made from biofortified crops, which are rich in essential vitamins and minerals, such as iron, zinc, and vitamin A.
Growth Trajectory
Better Nutrition’s growth trajectory has been nothing short of remarkable. The brand’s appearance on Shark Tank India in 2022 significantly boosted its visibility and credibility, leading to a 5x increase in its valuation. The brand’s revenue has also grown substantially, with a significant increase in sales and distribution.
What does the funding mean for Better Nutrition?
The ₹10 crore funding will enable Better Nutrition to expand its product offerings, including introducing new products and variants. The brand will also strengthen its distribution network, which will enable it to reach a wider audience and increase its market share. Additionally, the funding will allow Better Nutrition to scale its farmer training program, which is critical to ensuring that farmers can produce high-quality, biofortified crops.
Investor Perspective
The investors who participated in the funding round, including Namita Thapar, Shantanu Deshpande, and PV Sindhu, have expressed confidence in Better Nutrition’s vision and growth potential. “We are thrilled to be a part of Better Nutrition’s journey and believe that the brand has the potential to create a significant impact in the food industry,” said Namita Thapar, an investor in the round.
Competitive Landscape
The biofortified food market is growing rapidly, with several players vying for market share. Better Nutrition’s focus on biofortification and its commitment to providing high-quality, nutrient-rich food products have enabled it to establish a strong foothold in the market. The brand’s unique value proposition and commitment to sustainability have resonated with consumers, making it a preferred choice for those looking for healthier food options.
Conclusion
Better Nutrition’s ₹10 crore funding is a significant milestone in the brand’s journey, marking a major step forward in its mission to provide high-quality, biofortified food products to consumers. The brand’s focus on expansion, distribution, and farmer training will enable it to increase its market share and reach a wider audience. With this funding, Better Nutrition is poised to create a significant impact in the food industry and become a leader in the biofortified food space.
Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
