Lo! Foods, a low carb and Keto friendly range of packaged foods brand, based out of Bengaluru, has bagged ₹3.5 crore from a bunch of angel investors from financial and FMCG vertical.
The investors include Anuj Golecha, co-founder of Venture Catalyst; Raveen Sastry, Co-founder at Myntra; Rashmi Daga, founder at Freshmenu; Sunil Chhabra, Advisor & Founding Team member, Jumbotail; Mitesh shah, CFO, BookMyShow among others.
The brand will use the infused capital for expanding product portfolio and scaling up distribution of the brand. It is also looking to further scale up its online presence aggressively as well.
Lo! Foods has also brought on board advisors to mentor the founder for the next phase of growth of the brand. Advisors include PC Musthafa, co-founder and CEO, ID Fresh Food India and Anuradha Narasimhan, Ex CMO, Britannia.
Sudarshan Gangrade, founder at Lo! Foods, said, “Lo! Foods was started with a single purpose – to build a truly healthy product that works. A brand that creates a healthy and low carb keto friendly food that is inherently Indian. Our products have seen great traction and validation with our consumers, with extremely high monthly repeats. Fine dining spaces like 5-Star hotels have also validated our product quality and taste by creating exclusive menus. Top FMCG and Financial executives coming on board to invest and mentor the company is another strong validation of the prospects we have as an organization. We believe we are now ready to further scale up our operations to the next level.”
Lo! Foods was founded by Sudarshan Gangrade in 2019. It is a packaged foods brand that has the widest Low Carb and Keto friendly packaged snacks range in India.
Its range of products includes Atta, Biscuits, Snacks, Namkeens and Chocolates.
The company’s mission is to reduce the incidence of diabetes and cardiac related diseases in India by 5 million by 2023.
It aims to do this by reducing the overall consumption of Carbs, which has been proven to significantly help with weight loss and lifestyle diseases like Diabetes. The company is leveraging the huge health trend of consumers across small and big towns reducing carbs from their diets (by cutting down sweets, sugar, maida, rice, potato etc).
“As an investor, I meet multiple startups trying to solve a real problem. Sudarshan from Lo! Foods stood out for his attempt to solve a very real and pressing health issue in India – that of obesity, diabetes and cardiac risks. With his strong understanding of Science, Consumer and the business, he has built an initial product that has the ability to scale and create a whole new category in the Indian Food space,” Anuj Golecha, co-founder, Venture Cataylst, said.
Some of the significant brands with low carbs products include RiteBite, Healthy Snacks, Bagrry’s and many more.