Enzu.Life Pvt Ltd which operates lifestyle nutrition brand PlantVita, on Monday, said it has raised an undisclosed sum in a seed funding round led by JITO Angel Network.
The round also saw participation from AIM Angel group, Apurva Shah, promoter and MD of Veeda Clinical research; Jai Diwanji, partner at Desai & Diwanji law firm; Vivek Matthai, ex-GM Amul and Bisleri and other high networth individuals also took part in the round.
PlantVita, founded by Anmol Choubey and Sahil Shah in January 2021, sells plant-based foods and nutritional supplements. On their website and mobile app, they also have a direct-to-consumer monthly subscription plan.
“The funds raised in this round will be utilized to strengthen the team, launch new products and make our products available in new markets,” says Anmol Choubey, co-founder and CEO of PlantVita said.
PlantVita sells its products on Amazon and Flipkart, as well as in retail stores and high-end supermarkets in Mumbai. Taj Hotels, Intercontinental, Nino Burger, Sequel, and Impressario are among the hotels and restaurants that the company supplies in Mumbai, according to the statement.
SunilKumar Singhvi, vice-chairman of JITO Angel Network said, “the greatest health crisis, the Covid-19 pandemic, has spurred people to adopt a new dietary lifestyle, dumping processed, packaged unhealthy food items for healthier options. This has opened a new market for plant-based foods that are healthy, easy on the environment and are produced without harming animals.”
JITO Angel Network said it has a portfolio of over 55 companies where over 25 have raised up rounds and follow-on rounds till date.
Plant-based food companies with direct-to-consumer approach has seen continued investor interest, in September, Pune-based food ingredient startup Proeon raised $2.4 million in a seed financing round led by Shaival Desai with participation from Flowstate Ventures, Peak Sustainability Venture Fund I, Waoo Partners among others.
Wellbeing Nutrition, an organic plant-based nutrition company, raised an undisclosed amount through revenue-based financing platform Klub in June last year. In March, plant-based nutrition brand OZiva raised $12 million in a Series B round.