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    Health Sutra gets Rs 2.12 crore from Ankur Capital, Hyderabad Angels

    Synopsis

    According to a source privy to the development, of the total pre-series A investment, Ankur Capital has invested Rs 1.25 crore while Hyderabad Angels invested Rs 87 lakh.

    The fast growing ‘naturally healthy’ foods segment is currently estimated at Rs 22,000 crore (2016), according to industry reports.
    HYDERABAD: Early stage venture capital fund, Ankur Capital, along with Hyderabad Angels, has invested over Rs 2 crore into Health Sutra, a millet-based products manufacturer, a senior executive of Hyderabad Angels said.

    According to a source privy to the development, of the total pre-series A investment, Ankur Capital has invested Rs 1.25 crore while Hyderabad Angels invested Rs 87 lakh.

    Sai Krishna Popuri, founder and chief executive officer, Health Sutra said, “We plan to use 50% of this funding to set up our own processing plant in Nacharam in Hyderabad with a capacity of 150 tons and look at expanding our business to Mumbai, Pune and Bengaluru in the next eight months. The rest of the funds would be used for creating awareness amongst the consumers about the health benefits of millets.”

    Saral Talwar (Executive Director, Talwar Group) from Hyderabad Angels said, “We chose Health Sutra for two reasons — one, they are working to bring traditional foods back into the modern main stream and two, they are promoting healthy eating in today’s junk food dominant world”.

    Meanwhile, the startup also plans to raise around Rs 30 crore in Series A funding in the next 12-18 months.

    The company offers Jowar in a ready-to- cook mini-meals as well as ready-to- eat snacks. These products are gluten free, and free from preservatives and artificial ingredients. Currently, its products are available in over 850 stores across Andhra Pradesh and Telangana.

    The fast growing ‘naturally healthy’ foods segment is currently estimated at Rs 22,000 crore (2016), according to industry reports.

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