Nourish You has raised $2 Mn in a seed funding round from Triumph Group’s Y Janardhana Rao, Darwinbox’s founder Rohit Chennamaneni and Zerodha’s founder Nikhil Kamath, among others. The proceeds, from the funding round, will help Nourish You double down its investment toward research and development for new products thus, diversifying its portfolio.
Nourish You, a direct-to-consumer (D2C) superfood brand, has secured $2 million in a seed fundraising round led by Triumph Group’s Y Janardhana Rao, Darwinbox’s creator Rohit Chennamaneni, Nikhil Kamath, the creator of Zerodha, Abhijeet Pai, the founder of Gruhas, and Abhinay Bollineni, the CEO of KIMS Hospitals.
The profits from the capital round will enable the business to quadruple its investment in R&D for new items, expanding its portfolio. The company will also spend in branding and marketing, hire more employees, and broaden its distribution and market presence.
Rakesh Kilaru, Krishna Reddy, and Sowmya Reddy founded the Hyderabad-based firm in 2015, which distributes quinoa and chia seed-based goods such as nut mixes, edible seeds, flour, and meal mix.
These items are sold by the firm through its website and online platforms like as Flipkart, BigBasket, and Amazon, among others.
The firm, which bills itself as a clean-label and vegan brand, claims to oversee 5000 acres of Quinoa and Chia farms in Rajasthan, Karnataka, and Madhya Pradesh.
Furthermore, the business claims to ship items to Singapore, Nepal, Kenya, Dubai, Mongolia, and the Maldives.
In India, it competes with brands such as Phab, Wellbeing Nutrition, and Lo! Foods.
According to an IMARC analysis, the worldwide superfoods industry is expected to be worth $152.71 billion by 2021. The market is expected to be worth $214.95 billion by 2027, with a CAGR of 5.74% during the estimated period.
However, the country’s D2C industry is predicted to reach $300 billion by 2030, rising at a CAGR of 24% between 2021 and 2030.
