Rajasthan-based Rays Culinary Delights Pvt. Ltd, which runs packaged food products startup Sattviko, has raised an undisclosed amount in pre-Series A funding from a clutch of investors led by Raman Roy, chairman of National Association of Software and Services Companies (NASSCOM), the company announced on Monday.
Arvind Uppal, chairman of Whirlpool of India Ltd; Sonu Bhasin, founder of Families and Business (FAB); G Karthik, partner at Global Holdings; and G Ravishankar, former CEO of Jet Airways were the other angels who participated in the round.
The startup will use the funds to expand its operations.
“We aim to penetrate deeper into existing geographies and grow into newer cities in India,” said Prasoon Gupta, co-founder of Sattviko, in a statement. “We are already working on launching new product lines in different parts of the country,” he added.
The startup also announced that it has acqui-hired Indore-based snacks company Indori Chatore. Indori's founder Dhawal Phadke will be joining Sattviko, the startup said.
This is not Roy's first investment in Sattviko. In November 2016, too, he led an angel round at the startup. Other angels in that round included 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.
Founded in 2013 by IIT Roorkee graduates Prasoon Gupta, Ankush Sharma and Rahul Gupta, Sattviko runs quick-service restaurants. It introduced its delivery service in February 2015.
In the same month, it raised $115,000 from investors like CommonFloor co-founder Sumit Jain, Xerox India’s MD Rajat Jain and Samsung’s Network Business VP Sanjay Bhasin. Before that, it had raised angel investment from a group of individuals in 2014.
Sattviko says it offers Sattvik food, made without onion and garlic. It serves continental, Indian and Mexican meals, salads, munchies, desserts and beverages. The company also has an online marketplace where it sells Yoga and Ayurvedic products.
In August, Sattviko had acquired Delhi-based packaged food maker FYNESuperfood for an undisclosed amount. Prior to that, it purchased food delivery startup Call A Meal for an undisclosed amount in November 2015. Leave Your Comment