Lo! Foods raises $3.5 Mn in Series B round led by Rainmatter Health

Bengaluru-based Lo! Foods, a functional food startup, has raised $3.5 million in Series B funding round led by Rainmatter Health (zerodha's health initiative) and Singapore-based Capital Code.

The round also saw participation from Mount Judy Ventures, Ice.VC, KPB Ventures and other existing investors.

The funds will be used to grow warehousing, improve backend technology, start offline pilots in Bengaluru, and boost branding for Protein Chef.

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“Protein Chef is our fastest-growing brand, and we believe we have only scratched the surface here. We think that this alone can be very large. In the next 6 months, it can be a 100 crore plus brand, and so right now the funding is to build out overall our infrastructure, our tech and our marketing to build out Protein Chef as a brand,” said Sudarshan Gangrade, Founder and CEO of Lo! Foods.

“We have our own manufacturing setup, which will continue, but with quick commerce being so dynamic, we now need to build local supply chain infrastructure, especially more warehousing, and that’s where a part of the investment is going,” Gangrade adds.

“What Lo Foods has achieved in the last 15 months is remarkable. tripling revenues, building strong brand love and proving that functionality can be scaled. Their ability to marry science with format familiarity like protein breads, diabetic-friendly attas, or high-protein rotis is exactly what makes them the next big story in food and health,” shared Harsh Rajpal, Managing Partner, Capital Code.

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About Lo! Foods

Founded in 2023 by Sudarshan Gangrade, Lo! Foods is a functional food company focused on solving key health issues through four product lines: Protein Chef for protein deficiency, Keto Smart for obesity, DiabeSmart for diabetes, and GlutenSmart for gluten intolerance. 

Although the company started with Keto Smart over five years ago, it is now focusing on Protein Chef as its main growth area. Protein Chef has grown 4 times in the last year and offers protein-rich products like atta, snacks, bread, and savoury items. These are sold mainly through quick commerce platforms and the brand’s own D2C website.