[Funding alert] Silvassa-based MYFITNESS raises around $1M in seed round led by 9Unicorns
Silvassa-based health and fitness-focused food startup MYFITNESS on Thursday said it raised around $1 million in a seed round led by 9Unicorns.
The round also saw participation from Ashutosh Valani and Priyank Shah (Co-founders of Beardo), Arjun Vaidya (Founder of Dr.Vaidya’s), and Sharad Jain and Shreyans Jain (Co-founder of Nutrabay).
According to an official statement, MYFITNESS will deploy the funds to increase its sales and marketing efforts and also launch new products. It is also looking to expand its team and develop system frameworks to reach a milestone of Rs 100 crore ARR.
“With the pandemic increasing focus on a healthy lifestyle and nutrition, the health food segment in India is bubbling up delightfully. With a strong focus on world-class quality and taste in all our products, we are a strong wicket for stellar growth. While others celebrate funding, we view it as a responsibility towards our investors and the customers who believe in us and the brand,” Mohammad Patel, Co-founder and CEO, MYFITNESS, said in a statement.
Founded in 2019 by Mohammad Patel and Rahil Virani, MYFITNESS is a new-age D2C brand aimed at making food products healthier, tastier, and full of nutrients.
The startup claims to provide India’s first natural peanut butter with 95 percent less oil separation and a crispy variant of chocolate peanut butter, keeping the nutritional values intact.
“Despite being from a small town, we always believed in our vision of creating a world-class brand with the cleanest and nutritionally balanced products... We are quite excited and overwhelmed with the fact that it (MYFITNESS Peanut Butter) is India’s first Peanut Butter brand to have received funding from India’s top accelerator fund and veteran D2C founders,” Rahil Virani, Co-founder and CMO, MYFITNESS, said.
Speaking about the investment, Apoorva Ranjan Sharma, Managing Director and Founder, 9Unicorns, said that MYFITNESS has the capability to create a strong top and bottom line in the health food segment.
“Startup funding for me is more like investing in the founders and the market in which they are trying to create their niche. To me, MYFITNESS founders have exceptional capabilities of creating a strong top and bottom line in the health food segment. We are very confident of MYFITNESS's growth story and believe that our investment will help further establish its leadership in the market,” he added.
Besides, Beardo co-founders said, “India's healthy foods market is showing rapid growth, and MYFITNESS is a perfect example of a brand that is creating a new sub-category for itself. Great founders with a good strategy is a combination geared to go a long way.”