PE-VC Fund Investments
Healthy snacks seller Lo! Foods raises $3.5 M led by Rainmatter Capital
Bengaluru-based healthy snacks maker Lo! Foods has raised USD 3.5 million in a Series B round led by Rainmatter Capital. The round also saw participation from Mount Judy Ventures, Ice.VC, KPB Ventures, and existing family office investors.The company will begin offline retail pilots in Bengaluru, with plans to scale in the next financial year. It intends to launch new protein-based product lines, including a broader assortment of high-protein snacks, cookies, and functional foods. Additionally, the company is expected to invest in brand-building efforts, including a rebrand of its diabetic-focused offering DiabeSmart to “Sugar Smart”.Founded in 2019 by Sudarshan Gangrade, Lo! Foods operates across four verticals tackling different health concerns - Protein Chef (protein deficiency), Keto Smart (obesity), DiabeSmart (diabetes), and GlutenSmart (gluten intolerance). Its products are available on its website and on quick commerce platforms such as Blinkit, Zepto and Swiggy Instamart.
Between Jan 2021 and Nov 2022, Lo! Foods had attracted about USD 3 M from Ecosystem Ventures, Icebreaker VC, Mount Judi Ventures and others.For FY24, Lo! Foods had reported about INR 23 Cr in Operating Income and about INR 8 Cr in Net Loss.
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