[Funding alert] Akiva Superfoods raises $2M in Series A led by Alkemi, others
Alkemi Venture Partners, a Delhi-based VC focused on healthcare and consumer products, led this round of funding with participation from existing angel investors.
Akiva Superfoods, a Gurugram-based healthy wellness food products startup, has raised approximately $2 million (Rs 13.7 crore) in Series A funding led by Alkemi Venture Partners.
The startup's previous investors include Zomato Co-founder Pankaj Chaddah, MindTickle Co-founder Mohit Garg, Max Healthcare CEO Rajit Mehta, OYO New Real Estate CEO Rohit Kapoor, current and former Partners of McKinsey & Co and prominent PE investors.
The company will be deploying funds in three core areas - expanding the portfolio by adding a wide range of innovative superfood-based products across categories, getting the right talent across functions to scale globally, and penetrate new markets and bolster retail channels through high impact marketing.
Shalabh Gupta, Founder and CEO, Akiva Superfoods said,
“Ever since its inception in 2016, Akiva Superfoods has been one of the fastest growing health food players in the FMCG market. Our ultimate aim is to be an innovative and exciting independently run FMCG company, with a capacity to scale exponentially across Tier 1 and Tier 2 cities in the next five years.”
Gupta’s wife Gazal Kalra runs a technology-enabled logistics startup Rivigo, which last week raised its Series E funding of $65 million from its existing investors SAIF Partners and Warburg Pincus.
Founded in 2016, Akiva Superfoods claims that its products are a combination of quality ingredients at an affordable price range.
The brand plans to introduce new expansions across the year with the target of launching one new product category each month until the end of FY 19-20.
A spokesperson from Alkemi added,
"With robust direct-to-consumer, ecommerce and modern trade channels, Akiva Superfoods is data-rich, close to their customers and uses meaningful insights to develop products to scale. This is in-line with Alkemi's mission of elevating the health and well-being of people around the world, and we are confident that this round of funding will propel the organisation to drive real value."
Akiva Superfoods has a direct-to-consumer website with over 70 diverse SKUs across six categories, catering to over two million unique visitors annually. Its products are available across all leading ecommerce channels like Amazon India, Nykaa, Flipkart, BigBasket, as well as modern trade outlets in Delhi NCR and Mumbai including 24x7, Foodhall, Big Bazaar, Gen Next, Spencer’s, Hypercity, and Nature’s Basket.
(Edited by Megha Reddy)
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