Better Nutrition Raises ₹10 Crore Funding to Expand Products
In a significant development for the Indian food industry, Better Nutrition, a biofortified food brand, has secured ₹10 crore in funding. This funding round saw participation from prominent investors, including Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta. The brand, which has experienced exponential growth since its appearance on Shark Tank India, aims to utilize these funds to expand its product portfolio, strengthen its distribution network, and scale its farmer training programs.
Better Nutrition’s biofortified food products are designed to provide essential nutrients to consumers, particularly in rural and underserved areas. The brand’s products are created using cutting-edge technology that enhances the nutritional content of staple foods like rice, wheat, and pulses. This innovative approach has resonated with consumers, leading to a 5x growth in sales since the brand’s appearance on Shark Tank India.
The latest funding round marks a significant milestone for Better Nutrition, which has already raised ₹3.1 crore in 2022. The additional funding will enable the brand to accelerate its growth plans, both in terms of product development and distribution. Better Nutrition plans to use the funds to:
- Expand Product Portfolio: The brand aims to launch new products that cater to diverse consumer preferences and dietary needs. This includes expanding its range of biofortified foods to include more staple crops, as well as introducing new formats like snacks and beverages.
- Strengthen Distribution: Better Nutrition plans to strengthen its distribution network by partnering with more retailers, wholesalers, and e-commerce platforms. This will enable the brand to reach a wider audience and increase its availability in more markets.
- Scale Farmer Training: The brand is committed to empowering small-scale farmers by providing them with training and resources to adopt sustainable agricultural practices. The additional funds will enable Better Nutrition to scale its farmer training programs, benefitting more farmers and enhancing the quality of its products.
The investment from Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, and others from Google and Meta underscores the growing interest in India’s food and agriculture sector. These investors bring a wealth of expertise and networks to the table, which will be invaluable in helping Better Nutrition achieve its growth objectives.
“Better Nutrition’s mission to make nutritious food accessible to all resonates deeply with our values,” said Namita Thapar, investor and Chairperson of Emcure Pharmaceuticals. “We believe that the brand has tremendous potential for growth and look forward to supporting its journey.”
“This funding is a testament to the trust that investors have placed in our vision and our team,” said Rohan Kumar, Founder and CEO of Better Nutrition. “We are excited to use this funding to accelerate our growth plans, expand our product portfolio, and strengthen our distribution network. Our ultimate goal is to make a meaningful impact on the lives of millions of consumers in India and beyond.”
In conclusion, Better Nutrition’s ₹10 crore funding round is a significant development for the Indian food industry. The brand’s commitment to biofortified foods and sustainable agricultural practices has resonated with consumers and investors alike. As Better Nutrition continues to expand its product portfolio, strengthen its distribution network, and scale its farmer training programs, it is poised to make a lasting impact on the lives of millions of people in India and beyond.
News Source: https://startuptalky.com/news/better-nutrition-secures-inr-10-crore-funding/
