[Funding alert] Global fund Amasia leads Series A round of Living Food
Living Food has raised $7.5 million from Amasia Venture Capital, Blume Founders Fund, SOSV, and others
Silicon Valley headquartered sustainability and climate focused venture capital fund Amasia has led a $7.5 million Series A round in Bengaluru based fresh food retailer,. Other investors who participated in the round include SOSV, Blume Founders Fund, and notable angel investors including Sid Yog of Xander Group and Sandeep Singhal, Co-founder of Nexus Venture Partners.
Managing partner at Amasia, John Kim, had previously invested in Living Food in a seed round in 2020.
Living Food will utilise the capital to expand to Mumbai in early 2022 and other markets in the country, it said in a statement. The company will also utilise the capital for team expansion, improving logistics and tech offerings and launching new brands.
Founded in 2018 by Akash Sajith, Dr Shikha Lakhanpal and Niranjan KS, Living Food started out as a hydroponic farm in the founder’s Bengaluru apartment. Currently, the platform offers over 700 SKUs (Stock Keeping Units) across 24 categories including seasonal fruits, greens, fresh bread, artisanal chocolates, spreads, sauces, cold pressed oil and others. It also runs a cloud kitchen, using produce sold on the platform.
“We found plenty of opportunities to grow while remaining focused only on Bengaluru,” said Akash, Founder and CEO of Living Food in the statement. He added, “Living Food will continue to work towards providing locally-sourced healthy food that is good for the people and right for planet earth.”
The platform currently fulfills 99 percent deliveries in less than 24 hours and has partnered with other brands such as Makaibari tea gardens and Araku Coffee.
Organic and farm-to-fork food companies have seen rising investor interest in recent times. YCombinator backed UrbanKisaan raised an undisclosed amount from BASF Venture Capital GmbH in July 2021. Another YCombinator startup, Punjab based Pindfresh, retails indoor hydroponic technology systems.
Edited by Megha Reddy