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 in funding. This latest investment is a testament to the company’s commitment to providing healthy and nutritious food options to consumers. The funding round saw participation from a prestigious group of investors, including Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta.
Better Nutrition’s journey began with a remarkable growth spurt of 5x after its appearance on Shark Tank India. The brand’s innovative approach to biofortification, which involves fortifying crops with essential micronutrients, has resonated with consumers and investors alike. The company’s previous funding round in 2022 had raised ₹3.1 crore, and this latest investment takes the total funding to ₹13.1 crore.
The freshly raised ₹10 crore will be used to expand Better Nutrition’s product portfolio, strengthen its distribution network, and scale its farmer training programs. The company’s vision to make nutritious food accessible to all, particularly in underserved communities, will receive a significant boost with this funding.
Biofortification is a groundbreaking approach that involves breeding crops with higher levels of essential micronutrients like iron, zinc, and vitamin A. These micronutrients are critical for human health, and biofortification helps to ensure that consumers, especially vulnerable populations like children and pregnant women, receive the nutrition they need. Better Nutrition’s products, which include fortified wheat, rice, and soybean, are designed to address specific micronutrient deficiencies and improve overall health outcomes.
The funding round was led by Aclr8.vc, a venture capital firm that invests in innovative startups. Namita Thapar, a well-known entrepreneur and investor, also participated in the round. Shantanu Deshpande, the co-founder of SAR Group, a leading food and beverage company, and PV Sindhu, the Olympic badminton champion, also joined the investment list. Additionally, representatives from Google and Meta, two of the world’s largest technology companies, were part of the funding round.
The investors’ confidence in Better Nutrition’s vision and growth potential is a testament to the company’s success in creating a unique value proposition in the food industry. Better Nutrition’s biofortified products have the potential to make a significant impact on public health, particularly in India where micronutrient deficiencies are a significant concern.
The company’s plan to expand its product portfolio will enable it to cater to a broader range of consumers, including those with specific dietary needs. With a strengthened distribution network, Better Nutrition will be able to reach a larger customer base, including retailers, restaurants, and institutions. The company’s farmer training programs, which are designed to promote sustainable agriculture practices, will also receive a significant boost with this funding.
In a statement, the founders of Better Nutrition expressed their gratitude to the investors and emphasized their commitment to creating a healthier and more sustainable food system. “We are thrilled to have received this funding from such a distinguished group of investors,” said the founders. “We believe that biofortification has the potential to transform the food industry, and we are committed to making it a reality. With this funding, we will be able to expand our products, strengthen our distribution, and scale our farmer training programs, ultimately making a positive impact on public health.”
In conclusion, Better Nutrition’s ₹10 crore funding round is a significant milestone in the company’s journey to create a healthier and more sustainable food system. With its innovative approach to biofortification and commitment to making nutritious food accessible to all, Better Nutrition is poised for further growth and success. As the company expands its product portfolio, strengthens its distribution network, and scales its farmer training programs, it is likely to make a lasting impact on the food industry and beyond.
Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
