Healthy snacking startup Eat Better Ventures has raised Rs 5.5 Crore funding from Mumbai Angels and Java Capital.
Shiprocket Ventures, Capier Capital & Plan B Capital. Entrepreneurs, including Harpreet Grover, Arjun Vaidya, Radhika Ghai, Vishesh Khurana, Bimal Kartheek Rebba , Ishank Joshi, Venus Dhuria, Bhavik Vasa and Divij Bajaj and many more also participated in the funding round.
Eat Better Ventures will use the funds to support the company’s growth and increase its production capacity.
“Most packaged foods available are full of chemicals, artificial flavours and preservatives. Eat Better aims to change this narrative. We are excited to welcome an amazing group of investors who have backed and scaled large businesses. Our aim is to build a large and enduring food and beverage brand that offers customers delicious and healthy foods at the click of a button,” said Shaurya Kanoria, co-founder of Eat Better.
Eat better is a Jaipur-based brand founded in 2020 by Mridula Kanoria and Shaurya Kanoria. The company sells its products on its website and Amazon, a major e-commerce online platform.
“Healthy and snacking need not be at odds with each other. Eat Better is building on India’s rich traditions of healthy snacks to bring time tested nibbles with a twist to suit the modern Indian palettes,” Karteek Pulapaka, Partner Java Capital said.
Snacking is one of the largest categories of packaged food in India with annual sales of Rs 40,000 crore.
“While some see this as a short-term phenomenon, we expect this phase to catalyze a larger acceleration in the propensity towards personal health, hygiene, fitness and holistic nutrition. European and Asian nations have adopted functional foods and supplements, the Indian consumer is still predominantly showing a preference for “better for you” foods and home remedies. Ayurveda and herbal are increasingly becoming “back to roots” answers to modern problems,” said Angshuman Bhattacharya, National Leader – Consumer Product & Retail Sector, EY India.