Lo! Foods raises funds from FMCG and financial investment heavyweights
- Company has raised half a million dollars from Angels
- Investors include top founders and executives from the FMCG and financial investment community
- Funding secured from Anuj Golecha, Co-founder – Venture Catalyst; Raveen Sastry, Co-founder – Myntra; Rashmi Daga, Founder – Freshmenu; Sunil Chhabra, Advisor & Founding Team member, Jumbotail; Mitesh shah, CFO, BookMyShow among others
- Investors have invested in their personal capacity
- Top founders and executives from the Indian FMCG world have joined as advisors: PC Musthafa, Co-founder, ID Fresh Food India and Anuradha Narasimhan, Ex CMO, Britannia
- Funds raised to be used for expanding product portfolio and scaling up distribution of the brand
Mumbai 22nd August, 2019 – Lo! Foods, a Low Carb and Keto friendly range of packaged foods brand, announces seed funding round. The Company, started in early 2019 by former Ola senior executive Sudarshan Gangrade, has raised Half a million Dollars from a clutch of well known angels from financial and FMCG vertical. Some of the angels who participated in this round include: Anuj Golecha, Co-founder, Venture Cataylst, Rashmi Daga, Founder, Freshmenu, Raveen Sastry, Co-founder, Myntra, Mitesh Shah, CFO, BookMyShow, Sunil Chhabra, Advisor & Founding Team Member, Jumbotail, Gaurav Arora,Chief Investment Officer, ASK Wealth.
Lo! Foods has also brought on board advisors to mentor the Founder for the next phase of growth of the brand. Advisors include stalwarts of the FMCG industry – PC Musthafa, Co-founder CEO, ID Fresh Food India and Anuradha Narasimhan, Ex CMO, Britannia.
Speaking on the investment Sudarshan Gangrade, Founder, Lo! Foods say, “Lo! Foods was started with a single purpose – to build a truly healthy product that works. A brand that creates a healthy and low carb keto friendly food that is inherently Indian. Our products have seen great traction and validation with our consumers, with extremely high monthly repeats. Fine dining spaces like 5-Star hotels have also validated our product quality and taste by creating exclusive menus. Top FMCG and Financial executives coming on board to invest and mentor the company is another strong validation of the prospects we have as an organization. We believe we are now ready to further scale up our operations to the next level.”
The Company already has the widest Low Carb and Keto friendly packaged snacks range in India. Lo! Foods range of products includes Atta, Biscuits, Snacks, Namkeens and Chocolates. The product is available on top health platforms like Freshmenu, Eat Fit and e-commerce sites like Amazon, Flipkart and Big Basket. With the infusion of fresh funds, Lo! Foods will look to further scale up its online presence aggressively.
Anuj Golecha, Co-founder, Venture Cataylst, says, “As an investor, I meet multiple startups trying to solve a real problem. Sudarshan from Lo! Foods stood out for his attempt to solve a very real and pressing health issue in India – that of obesity, diabetes and cardiac risks. With his strong understanding of Science, Consumer and the business, he has built an initial product that has the ability to scale and create a whole new category in the Indian Food space.”
PC Musthafa, Founder, ID Foods says, “I built my company on products that are very Indian in nature, tasty and healthy. Lo! Foods, by trying to build an Indian and Tasty range of healthy products is attempting to do something similar in the Low Carb space. More importantly, the passion to impact health at scale got me convinced to come on board as an advisor for Lo! Foods. I hope I can help them with my experience in building an Indian food brand from ground up!”
Recently, Lo! Foods announced a partnership with Hyatt Place, Hyderabad, who have rolled out an all day Low Carb and Keto friendly menu which includes breads, paranthas, pastas, brownies – all created by using Lo! Atta.
About Lo! Foods
Lo! Foods is a Bangalore based packaged Foods brand, that has already become the widest range of Low Carb packaged Foods in India. The range covers Atta, Namkeens, Mixtures, Biscuits and Desserts, with many of these being the only ones of their kind in a Low Carb / Keto friendly form in India. Launched in early 2019, the brand delivers tasty, nutritious and affordable range of Low Carb products for the Indian consumer.
This range is ideal for consumers on Keto / LowCarb diet, or anyone who wants to reduce Carbs from their food. It is company’s mission to reduce the incidence of diabetes and cardiac related diseases in India by 5 million by 2023. They aim to do this by reducing the overall consumption of Carbs, which has been proven to significantly help with Weight Loss AND lifestyle diseases like Diabetes. The company is leveraging the huge health trend of consumers across small and big towns reducing carbs from their diets (by cutting down sweets, sugar, maida, rice, potato etc).