Funding News

Delhi based Food Startup Sattviko raises Undisclosed funding from angel investors

Delhi based Healthy and hygienic food startup Sattviko has raised undisclosed amount from clutch of individual investors. The investment round was led by Ashish Gupta, founder of well-known venture capital firm Helion Venture. The round also saw participation by Sunil Chandiramani and others senior private equity professionals.

Sattviko, inspired from the word sattvik (pure food), was incorporated in 2014 by Prasoon Gupta, Ankush Sharma, and Rahul Gupta. The company operates quick-service restaurants and also sells organic food as well as ayurvedic products via its e-commerce channel.

 Sattviko-funding

Food Startup Sattviko raises Undisclosed amount

Company claims that its organic and ayurvedic products are being sold to several high profile clients including Taj Hotels and SpiceJet.

According to reports, Sattviko will use most of the latest funding for international expansion purposes. Reports claim that the company is planning to expand business across highly competitive markets like U.K, U.S and Middle East. Company said that it has decided to enter these countries owing to the overwhelming presence of Indian diaspora.

Sattviko claims that it has already achieved profitability. Company said that since 2016 it has achieved a revenue run rate of $1 Mn (INR 7 Cr) per annum, growing nearly 20% month on month.

Delhi headquartered company has already raised substantial amount of funds through multiple rounds. It last raised funds in October 2017, securing undisclosed amount from GHV Accelerator. Previously, it raised pre-Series A funding from clutch of investors.

Growing awareness about hygienic food & healthy lifestyle

Buoyed by increasing income and lifestyle demands, today more and more Indians are flocking towards organic food and healthy lifestyle. This trend is also been partly triggered by people’s inability to cope with stress and pressure.

Not surprisingly, people’s growing inclination towards health oriented lifestyles has paved way for several startups. Today startups like Eat.Fit, SaleBhai, Petoo.in promises to offer best healthy food and are direct competitors of Sattviko.

Separately, Bengaluru based fitness startup Curefit is trying hard to capitalize on people’s increasing propensity towards healthy lifestyle. The company, which operates fitness centers and also offers healthy meals, is today one of the most funded startups in the startup ecosystem.

 

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