Packaged foods brand Lo! Foods raises $500K to scale up its operations

Lo! Foods, a low carb and keto-friendly range of packaged foods brand, has secured $500,000 in seed funding from a clutch of well-known angels from financial and FMCG vertical. 

The round has seen participation from some of the angels including Anuj Golecha, Co-founder of Venture Catalyst; Rashmi Daga, Founder of Freshmenu; Raveen Sastry, Co-founder of Myntra; Mitesh Shah, CFO of BookMyShow; Sunil Chhabra, Advisor & Founding team member, Jumbotail; and Gaurav Arora, Chief Investment Officer of ASK Wealth.

The fresh capital will be used by the Bengaluru-based company to further scale up its online presence aggressively.

Sudarshan Gangrade, Founder, Lo! Foods, said, “Lo! Foods was started with a single purpose - to build a truly healthy product that works. A brand that creates a healthy and low-carb keto-friendly food that is inherently Indian. Our products have seen great traction and validation with our consumers, with extremely high monthly repeats.”

“Top FMCG and Financial executives coming on board to invest and mentor the company is another strong validation of the prospects we have as an organisation. We believe we are now ready to further scale up our operations to the next level,” Gangrade added.

Lo! Foods was founded in early 2019 by former Ola senior Executive Sudarshan Gangrade. The brand's range of products consists of atta, biscuits, snacks, namkeens, and chocolates. Its products are available on health platforms such as Freshmenu, Eat Fit, and e-commerce sites like Amazon, Flipkart, and Bigbasket. 

Anuj Golecha, Co-Founder of Venture Catalyst, stated, “As an investor, I meet multiple startups trying to solve a real problem. Sudarshan from Lo! Foods stood out for his attempt to solve a very real and pressing health issue in India – that of obesity, diabetes and cardiac risks. With his strong understanding of Science, Consumer and the business, he has built an initial product that has the ability to scale and create a whole new category in the Indian Food space.”