[Funding alert] Dairy and whole foods startup NutriMoo raises $1M from IndoCan Honey
As a strategic investor, IndoCan not only helps NutriMoo fund their expansion plans but will also invest in crucial product expansions and backward linkages.
NutriMoo, a Gurugram-based dairy and whole foods brand, on Monday announced that it has recently received an equity funding worth more than $1 million from IndoCan Honey Pvt Ltd, a North India-based business entity that focuses on premium quality honey.
Owned and operated by Credence Whole Foods Private Limited, NutriMoo claims to deliver 100 percent pure, fresh, hormone-free, and preservative-free dairy and whole food products that are entirely free from any adulteration. The startup offers traditional products and their variants like cow milk, buffalo milk, tea special milk, cow ghee, desi ghee, yoghurt, fresh paneer, natural himalayan honey, tulsi honey, ajwain honey, honey with cinnamon, and buttermilk, etc.
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The startup was launched in May 2016 by Amit Sharma and Ajay Yadav. The decision to start the company was based as much on a massive quality gap in the dairy and food market as well as consumers.
Amit Sharma, Co-founder and Director, NutriMoo, said,
“We spent a good couple of years researching, understanding the market, refining our products, perfecting our portfolio, creating capacities both on production and distribution and, most importantly, investing in clear, differentiated, deep insight-based marketing by truly understanding what the consumer wants.”
As a strategic investor, IndoCan not only helps NutriMoo fund their expansion plans but will also invest in crucial product expansion(s) and backward linkages. Both companies are chasing the same goal of ultimate health and wellness. Currently, IndoCan’s food products are exported on a large scale to international markets such as North America, Canada, the UK, European nations, and the Middle East.
“The response we have received from the customers is overwhelming. We were elated to find that cutting across socio-economic lines, deep down every consumer wants pure, safe, and reliable products and our core vision just clicked with everyone,” added Ajay Yadav, Co-founder and Director, NutriMoo.
The startup is currently retailing through exclusive outlets, on its Android and iOS app, and leading online shopping platforms such as Swiggy Stores, Amazon, and Flipkart. Discussion with other online ordering platforms such as BigBasket, Grofers, Dunzo etc is in progress, it said.
With this funding, NutriMoo plans to quickly scale up to all major cities in the country.
“Since launch, our business has been growing at a trailblazing pace. It’s clearly a testimony to our core vision; obsession over quality and freshness that has paid off. Our customers deserve the best products and it’s our mission to ensure that,” conclude both the founders.
(Edited by Evelyn Ratnakumar)
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