D2C brand Floryo has raised $2 million in its Pre-Series A funding round from 3ONE4 Capital.
Other prominent investors including Kunal Shal (CRED), Varun Alagh (Mamaearth), Aman Gupta and Sameer Mehta from (boAt), Vivek Gupta and Abhay Hanjura (Licious), Rishi Vasudev (G.O.AT Brandlabs) and Vijay Arisetti (MyGate) also participated in equity round.
In this round, $1.6 million funding has been raised via equity round while the remaining $400K as debt by Alteria Capital.
The startup plans to use the funds to expand the product line, widen its geographic footprint, and strengthen its brand-building strategies.
The Bengaluru-based Floryo was founded in 2021 by Manohar Kumar, It sells freshly produced Indian staple products, especially wheat flour, through its platform.
The platform offers a variety of whole grain flours such as functional multigrain flour, customized multigrain flour, and gluten-free multigrain flour, among others.
“At Floryo, we strongly believe that in food, freshness is a crucial marker of quality that precedes all other attributes. Moreover, when it comes to nutrition one size doesn’t fit all. Hence customization of food for individuals based on health and dietary needs. We are committed to work on product innovations with the help of technology to revolutionize the packaged food industry,” said Manohar Kumar, founder and CEO of Floryo.
The startup also provides online consultations with nutritionists to help customers understand their dietary needs.
In addition, it has a manufacturing unit that processes and packs core products.
“We are excited to partner with Manohar and his team as they build out Floryo. Floryo’s mission to provide fresh alternatives for daily nutrition consumption is quite an exciting one and we are privileged to be partner in their journey,” said, Nitya Agarwal, vice president at 3ONE4.
The platform claims to have over 40 Stock Keeping Units (SKUs) of freshly processed flour.
It also claims that once a customer places an order the product is delivered to the customer’s doorstep within 24 hours.
Delivering the goodness of freshly processed staple food. Fresh is the new future.