Indian Angel Network (IAN) has invested an undisclosed amount in Bangalore-based health food startup Jiyo Natural Pvt Ltd, which claims to sell personalised,
calorie-monitored and chemical-free food.
Rajiv Mehta and Sumit Dhingra, who have led this round of investment, will join the board of the startup, as per a statement.
“With this investment, we intend to reach out to at least 80 per cent of consumers living in Bangalore, before expanding to five other cities—Mumbai, Pune, Delhi-NCR, Chennai and Hyderabad,” said Rajesh Singh, co-founder, Jiyo Natural.
The startup was conceptualised by Sharan Hiremath and Jayas Damodaran in May 2014. Hiremath ran his own software company, AriveGuru while Damodaran headed sales consulting at Oracle India. Subsequently, Rajesh Singh, who had previously worked with CISCO in the US and India, Gaurav Bhalotia who was a tech consultant with several startups and Sunandini Sharma, a qualified naturopathic physician, joined the founding team.
The startup presently sells two meal packages—’Jiyo Health’ and personalised meal option under ‘Jiyo Manage’. It claims to be growing at a rate of 10-15 per cent on an annualised basis.
It has its own kitchen and sells meals to both office goers and consumers at their homes, based on a minimum number of subscribers after providing a consultation with a dietician.
The investment will be used for marketing, technology and infrastructure to create brand awareness through online and on-the-ground marketing besides creating easy-to-use web and mobile apps, the firm said.
According to Sumit Dhingra, one of IAN’s lead investors, the time is right for Jiyo Natural to enter other markets due to a growing focus on personal health and fitness.
The company plans to introduce new products such as healthy snacks, health drinks, energy bars, etc.
There are several food-tech startups that have started their business over the last couple of years and many have got funding. Some others too claim to offer healthy meals either in a pre- or ready-to-cook format.