Packaged Food startup, Sattviko Raises Strategic Funding from Multiple Investors
Sattviko, a packaged food startup, has raised an undisclosed amount of strategic funding from multiple investors, as well as Ashish Gupta, India’s one among the foremost successful angel investor and founder of Helion Venture, Sunil Chandiramani- Former India Head, ernst & Young advisory, and others senior Pvt. equity professionals who conjointly participated on the round.
Adding such names on their portfolio, together with few existing investors like GHV India Pvt. Ltd., Sattviko, today has some of the most eminent investors backing them.
This is the third time Sattviko has raised funding since its beginning in 2014; earlier in september 2017, the company had raised Pre-Series A investment from a clutch of investors led by Raman Roy (chairman of Nasscom). Sattviko has used the amount to grow 6x in FY 2017-18, and it aims to more grow by 50 cr in FY 2018-19 by creating use of the fresh capital.
Speaking on the occasion Prasoon Gupta, Co-founder, Sattviko, aforesaid “This new fundraiser marks a major milestone in growth journey and consolidation of Sattviko. Till date, we have spread our wings to ten major cities of India and across all massive retailers like big Bazaar, More, Hypercity, Easyday, Spar, Metro, etc. Besides, our product are also available at airports and we also serve in-flight. Our next step is to initiate our dubai and us operation. Over time, we are going to endeavour to penetrate across geographies and borders, introducing the Sattwik taste of Indian-origin recipes and healthy food items to the world.”
Sattviko’s product are an ideal fusion between old food recipes and modern food technology to present the standard food in modern avatar. Running high on tremendous client response, Sattviko that had registered Rs 70 lakh revenue in the 1st year, currently aims at touching Rs 45 crore mark in the coming years and has robust expansion. during the last year (2017-18) Sattviko grew at 700 per cent rate.
The company has conjointly got a number of awards and recognitions to its credit. under ‘Make in India’ programme, it was conferred the ‘Best Food brand of India’ during the third National Entrepreneurship Awards last year by the Ministry of skill Development, Government of India.
The Co-founder, Prasoon Gupta was rewarded with ‘Young entrepreneur of the Year’ in december last year by TiE delhi NCR and a well known publication—Business World recognized him among the highest forty young entrepreneurs in its “40 under 40 series”.
sourse: Packaged Food startup, Sattviko Raises Strategic Funding from Multiple Investors