Proliva raises funding from Mumbai Angel Network

Proliva raises funding from Mumbai Angel Network

December 19, 2018: Proliva (Nutrisattva Foods Pvt. Ltd.), a natural protein based functional foods company, raises funding from Mumbai Angels Network (MA Network), India’s premier platform focused on new venture investing. Nutrisattva Foods was founded in 2016 by three veterans from the dairy and nutrition sector: BM Vyas, former Managing Director of India’s largest dairy firm Amul (GCMMF), Shirish Upadhyay, former Senior Vice President of Parag Milk, and nutritionist Dr. Ravi Khimani; with backing from Bennett, Coleman & Co. Ltd. (BCCL).

The protein innovation company is focused on developing customized protein-based functional foods for individuals across age groups, nutritional needs, and lifestyles. Their brand Proliva is 100% vegetarian, all natural, with no additives or preservatives, fillers or added sugars, and is fortified with vitamins, superfoods and Ayurvedic ingredients. Protein deficiency is one of the biggest causes of malnutrition with 9 out of 10 Indians deficient in this nutrient. The health benefits of protein include support for muscles, joints, bones, skin, hair and nails, as well as amino acids and electrolytes, all necessary for our well-being.  The Indian Dietary Supplements market is estimated to be $2 billion (Rs. 13,400 crores); growing at a fast pace of 16% and estimated to double by 2020.

Commenting on the Founder Shirish Upadhyay, said, “We are excited to be associated with MA Network and the value they bring to help us execute our larger vision and movement in making India a healthy nation.   We want consumers to make Proliva a part of their daily food consumption habit rather than viewed as a supplement. We want to increase consumer awareness by building focused products within the health food and consumer industry.” fund raise, “We are thrilled to bring Nutrisattva Foods to our portfolio group of companies.  We are looking for companies that are paving new paths in the consumer category and believe Proliva is doing just that with their clean label and attractive branding.  We believe MA Network is in tune with the needs and wants of modern consumers and see this as a big business opportunity within the consumer health category.  There is a lot of innovation happening around the protein space and consumers are looking for convenient ways to boost their intake through new formats. Together, Nutrisattva and MA Network aim to increase brand awareness and boost distribution for Proliva,”  said MA Network CEO & MD, Nandini Mansinghka.

About Mumbai Angels Network: Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing.  The network is today 300+ members strong, across 7 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa and Pune). We have built a strong investment framework through which we showcase 60-70 highly curated investment opportunities to our member base, chosen from a funnel of 4500-5000 companies we review every year. MA Network now has a 125+ strong portfolio with 30+ exits; several of whom were at multiples comparable with global benchmarks in new venture investing.   About Nutrisattva Foods Pvt. Ltd: Nutrisattva is a protein innovation Company focused on developing natural protein nutrition for individuals across age groups, nutritional needs and lifestyles. Founded on the belief that strains of urban living require a natural, informed and convenience-based approach to good health, Nutrisattva develops products based on the knowledge of nutrition science, fitness and Ayurveda.