Ruchir Modi’s wellness startup Puro Wellness has raised Rs 250 crore from Torrent — the holding company of Gujarat-based conglomerate Torrent Group — in its pre-revenue stage.

As per some investment banking executives, Torrent has taken a significant stake in Puro Wellness, which aims to develop nutritional supplements that are meal replacements for salt, sugar, spice, rice and other products.

“It is a rare case, where an investor invests a large amount in a pre-revenue stage in a startup“, said an investment banker who is aware of the development.

As per the executives cited earlier, the fund is for the venture’s five year growth plan, but a large chunk of it will be utilised in the first year of operations. The fund is mainly for a marketing blitzkrieg campaign, R&D and working capital.

Source: The Economic Times