Food product startup Sattviko raises funds in Pre-Series A round

Delhi-based healthy food product startup, Sattviko has raised an undisclosed amount in its Pre-Series A funding from a clutch of investors. Raman Roy, an active angel investor and Chairman of Nasscom has led the round while the others angels who participated in this round include Arvind Uppal, Chairman, Whirlpool; Sonu Bhasin, founder Families and Business (FAB); G Karthik- Partner, Global Holdings; G Ravishankar, former CEO Jet Airways, and others.

Started in 2013 by IIT Roorkee graduates Prasoon Gupta and Ankush Sharma, Sattviko runs a small chain of casual dining restaurants and provides private label brand for traditional Indian snacks. The startup also introduced its delivery service in February 2015.

Sattviko claims that since its last funding, business expansion has been four times of what it was in the beginning. The startup has become profitable from July 2016 and Spice Jet, Lufthansa, Taj Hotels, Chai Point and Tpot cafe are its client.

Prasoon Gupta, co-founder of Sattviko stated, “We aim to penetrate deeper into existing geographies and grow into newer cities in India. To achieve this goal, the brand is already working on launching new product lines in different parts of the India. Sattviko has proven that snacks can be tasty enough to tempt the taste pallet without compromising any of the nutritious value.”

Sattviko had been extending its product portfolio by acquiring other food products companies. Most recently, it acquired FYNE Superfoods, a Delhi-based packaged food products company for an undisclosed amount. Prior to this, Sattviko acquired Jaipur-based food delivery startup CallOnMeal In February 2016.

The company had previously raised $115,000 from investors like CommonFloor co-founder Sumit Jain, Xerox India’s MD Rajat Jain and Samsung’s Network Business VP Sanjay Bhasin. Before that, it had raised around $300K as angel investment from a group of individuals in 2014.

 

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