Bengaluru-based Lo! Foods on Friday said it has raised USD 1 million (about Rs 7.4 crore) in funding, led by the Chona Family Office, the erstwhile promoters of Havmor Ice Cream.
The pre-series A round also saw participation from Ecosystem Ventures, Raveen Sastry (Co-Founder, Multiply Ventures), KRS Jamwal, Pratyush Prasanna (Gojek) among others, a statement said.
The funds will be used towards accelerating growth, strengthening existing distribution networks and ramping up marketing, it added.
Started in 2019 by Sudarshan Gangrade, Lo! Foods offers low-carb and Keto-friendly packaged products. It also has also ramped up to 20 cloud kitchens across Bengaluru, Delhi, Gurugram and Hyderabad that offer fresh low-carb food on demand through food delivery apps.
* * * * AnKa SumMor raises Rs 3 cr funding led by Inflection Point Ventures *
AnKa SumMor, a Sales and Distribution (S&D) platform for the FMCG sector, on Friday said it has raised Rs 3 crore in funding, led by Inflection Point Ventures.
The funding from the pre-series A round will be utilised towards scaling business in Hyderabad and Chennai with improved infrastructure, coverage, and branding, a statement said.
The funds will also be used for expanding operations to Bengaluru, along with technology development and deployment, it added.
AnKa SumMor has covered over 2,600 stores, working with 10 brands so far McVities, Yoga Bar, Wai Wai, Paper Boat, Yellow Diamond, Bombay Shaving Company, Spice Story, Budweiser, Om Bhakti and Again Drinks.
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