F&B brand &ME raises seed funding from Matrix Partners

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Bengaluru-based Women focused food and beverages brand &ME, has raised an undisclosed amount in seed funding from US-based private equity investment firm Matrix Partners India.

The funds raised will be used to expand its distribution network, along with hiring senior executives and further research.

&ME is a brand providing women-focused health beverages, launched by Merhaki Foods & Nutrition Private Limited that was founded by Ankur Goyal in September 2017. It offers a wide variety of drinks with a combination of fruits, vegetables, spices, herbs, and flowers without any added preservatives and sugar. These drinks also provide a 30% daily nutrition for women with less than 80 calories.

According to the company, these drinks are made through a blend of modern science with Ayurveda to provide micronutrients that help detoxify the blood, cleanse skin, and strengthen hair and nails.

These products are available to its customers through its own website, along with other online platforms. They are also available offline in select stores in Bengaluru.

Ankur Goyal, CEO, &ME, said, “In the three weeks since our launch, we have sold 400 bottles, with over 70% of the sales coming from the modern trade stores in parts of Bengaluru. Over the next four months, we will expand across Bengaluru and then move to two more markets in South and North India next year.”

The company is looking to introduce three more drinks for women with Polycystic ovary syndrome, fat metabolism, and to develop core strength.

&ME’s investor Matrix Partners India is an early-stage investment firm that is focused on investing in various sectors like consumer technology, B2B, fintech, among others in India. Some of the notable investments by the firm in India include Clip app, DailyHunt, Ola, Quikr, among many others.

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