Packaged food products start-up, Sattviko that offers fresh, light, nutritious and easy to digest food, has raised an undisclosed amount in pre-Series A funding from a few investors led by Raman Roy, chairman of NASSCOM alongside other investors like Arvind Uppal, chairman of Whirlpool of India, Sonu Bhasin, founder of Families and Business (FAB), G Karthik, partner at Global Holdings; and G Ravishankar, former CEO of Jet Airways.
The company will use the undisclosed capital raised for expanding its operations.
Co-founder of Sattviko, Prasoon Gupta said in a statement that the company aims to penetrate deeper into existing geographies and grow into newer cities in India. “We are already working on launching new product lines in different parts of the country,” he added.
According to a source, the start-up said that it has acqui-hired Indore-based snacks company Indori Chatore and Indori’s founder Dhawal Phadke will be joining Sattviko.
The Rajasthan-based company was founded in December 2013 by IIT Roorkee graduates Prasoon Gupta, Ankush Sharma and Rahul Gupta.
Started in 2014, the company is the first quick service restaurant chain serving Sattvik food in the country. Within a year of launching, their outlets developed a huge customer base which loves their food and beverages, prepared using the yoga recipes and methods. The company also received the “Best Debutante Restaurant Chain” Award in December 2014.
In 2015, the company had raised $320 thousand from Sumit Jain and Rajat Jain.
The company had also raised an undisclosed amount in 2016 from 9 investors.
In November 2016, too, Roy led an angel round at the start-up including other angels like Ashish Gupta, former CEO of Evalueserve; Yogesh Andlay, founder of Nucleus Software Ltd; Kevin Freitas, HR leader at InMobi; N Ravikiran, former head of product at Wipro; and Ravishankar of Jet Airways.