Better Nutrition raises ₹10 crore funding to expand products
In a significant development in the Indian startup ecosystem, Better Nutrition, India’s first biofortified food brand, has secured ₹10 crore in funding to accelerate its growth trajectory. 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 fresh injection of capital will enable the brand to expand its product offerings, strengthen its distribution network, and scale its farmer training programs.
For the uninitiated, Better Nutrition is a pioneering brand in the biofortified food space, which focuses on creating nutrient-rich food products that cater to the dietary needs of millions of Indians. The brand’s products are designed to provide essential vitamins and minerals to individuals, particularly in rural and underserved areas where access to quality nutrition is limited.
The funding news comes on the heels of a remarkable growth spurt for Better Nutrition, which saw its sales increase by a whopping 5x post-Shark Tank India, a popular TV reality show that features entrepreneurs pitching their business ideas to a panel of investors. The brand’s appearance on the show helped it gain significant visibility and traction, paving the way for its current funding round.
The ₹10 crore investment is a testament to the growing interest in the biofortified food space, as well as the potential of Indian startups to create innovative solutions that address pressing social and environmental challenges. In an interview, Namita Thapar, one of the investors, noted that Better Nutrition’s focus on biofortification aligns with her investment philosophy of supporting companies that have the potential to create a positive impact on society.
“We are excited to partner with Better Nutrition, which has demonstrated a unique ability to create nutrient-rich food products that cater to the needs of underserved communities,” Thapar said. “We believe that the brand has tremendous potential for growth and are confident that our investment will help it scale its operations and expand its reach.”
The funding will be used to fuel Better Nutrition’s expansion plans, which include introducing new products, strengthening its distribution network, and scaling its farmer training programs. The brand currently offers a range of biofortified food products, including fortified rice, wheat, and corn, which are designed to provide essential vitamins and minerals to individuals.
The funding news is also significant because it highlights the growing interest in the biofortified food space, which is expected to play a crucial role in addressing malnutrition and improving public health in India. According to the Indian Council of Medical Research, malnutrition affects approximately 40% of India’s population, with iron deficiency being a particular concern.
Better Nutrition’s focus on biofortification is designed to address this challenge by creating nutrient-rich food products that are accessible to a wide range of consumers. The brand’s products are designed to be affordable and easy to consume, making them an attractive option for individuals who may not have access to traditional sources of nutrition.
In addition to its biofortified food products, Better Nutrition is also committed to supporting local farmers and strengthening the agricultural ecosystem in India. The brand’s farmer training programs are designed to equip farmers with the skills and knowledge they need to grow nutrient-rich crops, which can help to improve public health and reduce the risk of malnutrition.
The funding round also marks a significant milestone for Better Nutrition, which has previously raised ₹3.1 crore in 2022. The brand’s growth and success are a testament to the potential of Indian startups to create innovative solutions that address pressing social and environmental challenges.
In conclusion, Better Nutrition’s ₹10 crore funding round is a significant development in the Indian startup ecosystem, which highlights the growing interest in the biofortified food space and the potential of Indian startups to create innovative solutions that address pressing social and environmental challenges. The brand’s focus on biofortification, farmer training, and distribution expansion will help it to scale its operations and expand its reach, making it an attractive option for consumers who are looking for nutrient-rich food products. As the brand continues to grow and expand, it will be exciting to see how it leverages its funding to drive positive change and make a meaningful impact on public health in India.
News Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
