Eat Better Ventures Raises INR 5.5Cr in Seed funding round led by Mumbai Angels and Java Capital

 

Eat Better Ventures Raises INR 5.5Cr in Seed funding round led by Mumbai Angels and Java Capital

03, March, 2022: Healthy D2C food brand Eat Better Ventures Pvt Ltd. has raised INR 5.5Cr funding in a seed round led by Mumbai Angels and Java Capital.   The round also saw the participation of Shiprocket Ventures, Capier Capital, AngelList & Plan B Capital. Besides, over 20 reputed entrepreneurs, including Arjun Vaidya, Bimal Karettk Rebba, Vishesh Khurana, Ishank Joshi, Venus Dhuria, Harpreet Grover, Radhika Ghai, Bhavik Vasa, & Divij Bajaj, also participated in the round. The company plans to utilize the funds to step up its production capacity, build a strong team, launch new products, and strengthen marketing and distribution.

Speaking on this, Nandini Mansinghka, Co-Founder and CEO - Mumbai Angels, said, “Embracing healthy snacking while pursuing a healthy lifestyle goal can be a daunting task for many. Today, an increasing number of Indian millennials are seen quickly catching up with the global snacking revolution. Traditional Indian foods prepared with a modern twist to suit changing palate preferences will go a long way in inculcating a healthy snacking lifestyle,”

Commenting on the fundraise, Mridula Kanoria, Co-founder of Eat Better said "Consumers are waking up to more conscious, healthy choices, and their expectations and preferences are rapidly evolving. At Eat Better, we want to support them on their journey of health without compromising on taste. We are thrilled to have secured funding from marquee investors and believe that it will lay the foundation for us to achieve our goal."

Shaurya Kanoria, Co-founder of Eat Better, added, "Most packaged foods available are full of chemicals, artificial flavors, and preservatives. Eat Better exists to change this narrative. We are excited to welcome an amazing group of investors who have backed and scaled large businesses. Our aim is to build a large and enduring food and beverage brand that offers customers delicious and healthy foods at the click of a button.”

Commenting on the rationale behind the investment in Eat Better, Karteek Pulapaka, Partner Java Capital said, "Healthy & Snacking need not be at odds with each other. Eat Better is building on India’s rich traditions of healthy snacks to bring time-tested nibbles with a twist to suit the modern Indian palettes. Very few brands managed to get a taste, form-factor, and healthy ingredients right at the same time. Eat Better has been able to do so, which is reflected in the 38% MoM growth and high customer retention rate."

About Mumbai Angels: Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 190+ strong portfolio across sectors and cities across India. Of the overall portfolio, the platform has exited/ secured the next round of funding for 100+ of them. Today the platform has 650+ investors spread across 60+ Global cities.