Good Health Essentials Pvt. Ltd, a Delhi-based startup that makes cold-pressed juices under the MyGreens brand, has raised Rs 6.4 crore (around $1 million) in angel funding.
The round was led by Ajay Relan, co-founder and former managing partner of private equity firm CX Partners, the startup said in a statement. Online funding platform LetsVenture also invested.
The startup will use the funds to expand operations and launch products.
For Relan, this adds to a host of investments he has made recently. In the past, the former chief executive at Citi Venture Capital International had backed Delhi-based fresh produce startup Frugivore India and compliance management software startup LexComply.
MyGreens offers beverages in the range of Rs 100-Rs 250 a bottle in different sizes. It claims that it sells 500-1,000 bottles per day.
MyGreens was founded in 2016 by Anurag Mishra and Rohan Gupta. Mishra is an IIT Delhi and IIM Calcutta alumnus and was earlier associated with Boston Consulting Group and Monitor Deloitte. Gupta is a management graduate from Lancaster University in the UK and is a serial entrepreneur.
Recently, it acquired rival Food Ideas Pvt. Ltd, which sold products under the JusDivine brand.
MyGreens is among a handful of Indian startups that cater to the growing demand for healthy ready-to-drink beverages. In the juice category, cold-pressed juices are capturing the consumersâ imagination as they are perceived to be healthier than other packaged products. Investors are, therefore, betting big in this space.
Recently, Mumbai-based Rakyan Beverages Pvt. Ltd, which sells cold-pressed juices under the RAW Pressery brand, raised funding from Bollywood actor Jacqueline Fernandez.
Prior to that, Fresh Food Concepts Pvt. Ltd, which sells under the Juice Up brand, secured Rs 13.5 crore in a pre-Series A round led by angel investors Siddhartha Gupta and Ashvin Chadha.
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