Delhi-based packaged food startup Sattviko has raised an undisclosed amount of strategic funding from marquee investors, including Ashish Gupta, an angel investor and founder of Helion Venture. Other investors that participated in the round were Sunil Chandiramani, former India Head, Ernst & Young Advisory, and other senior private equity professionals.
“Our next step is to initiate our Dubai and US operation. Over time, we will endeavour to penetrate across geographies and borders, introducing the Sattwik taste of Indian-origin recipes and healthy food items to the world” said Prasoon Gupta, co-founder, Sattviko.
Sattviko was founded by Prasoon Gupta, along with Ankush Sharma and Rahul Gupta in 2013. The startup sells products across various categories including Healthy Snacks, Raisins, Fox Nuts, Khakhra Chips, among others. Its products are available in 25 cities across India including large institutions like Taj Hotels and SpiceJet.
Its products are also available across large retailers such as Big Bazaar, More, Easyday, Spar, and Metro. The startup claims to have grown 6x during the FY2017-18, using funds raised earlier. It also plans to use the fresh funds to expand its growth by ₹50 crores in the coming FY2018-19.
The startup had last raised an undisclosed amount of funds in a pre-series A round led by Raman Roy in September 2017.
Other players competing with Sattviko in this space include Timla Foods, The Mumum Co, among others.