Hyderabad-based InnerBeing, a Nutri-food startup has raised ₹3.5 crores in pre-series A funding led Singapore-based CCube Angels Network. Other investors include Atim Kabra, Vipin Agarwal, and Sandesh Pandhare among a few others. The investors range from countries across US, UAE, Singapore, and India, along with an ex-board member of ITC Group.
The funds raised will be used to develop for new product development, expansion in top-tier cities in India as well as overseas to a few countries, along with marketing activities.
InnerBeing, a Nutri-food startup aims to motivate people to live a healthy life by giving its consumers a variety of healthy food options to choose from. It was founded by Sandesh Pandhare and C S Jadhav.
The company has a wide variety of products based on the traditional Indian foods like Ragi, Millet, Jowar, Quinoa, etc. These products provide a healthy blend of nutritious food along with a good taste for people with varied palates.
It is the first company to be incubated by a-IDEA, a Technology Business Incubator (TBI), hosted by ICAR-National Academy of Agricultural Research Management, Hyderabad (ICAR-NAARM), along with Department of Science & Technology, the government of India.
Talking about the investment, Atim Kabra, Director, Frontline Strategy which manages CCube Angels Network, said “we have a strong belief that Nutri-cereals will be the next smart food and specially millet, being a dry land crop, will improve livelihoods at the rural level and at the same time offer nutritious products to the urban consumers. We believe that there is a big market for the company’s products in India & beyond.”
After launching its millet based products in Hyderabad, the company is looking to expand to cities like Delhi and Mumbai by the end of this year. It is also aiming to reach 10 cities in the coming years. As the company looks to expand its product range, Millet Pancake, Gluten-free pizza, along with Quinoa porridge are among the few products that are set to be launched.