CCube Angels Network, Singapore based angel investing network has invested in Inner Being Wellness Pvt.Ltd, a Nutri-food start up based out of Hyderabad. The start-up has received Rs 35 million from partners, Atim Kabra, Vipin Agarwal and Sandesh Pandhare and few others.
Inner Being plans to use the funds raised in the current round for new product development, expansion in top tier cities in India and few other countries, marketing activities and aims to build India’s trusted healthy lifestyle brand in the breakfast and snacks space. The recent round comprises of some prominent investors from USA, UAE, Singapore and India, including an ex-board member of ITC Group.
C S Jadhav, Director, Inner Being elaborated, “The vision of the company is to promote a healthy lifestyle among consumers by providing nutritious food options which are tastier than currently available unhealthy and junk food options. Inner Being is introducing traditional foods like millets, quinoa and other ancient grains in more contemporary formats that appeal to the modern generation such as breakfast mixes, snack mixes, savory snacks, crackers, cookies, energy bars and the like.
Atim Kabra, Director, Frontline Strategy which manages CCube Angels Network, said “We have a strong belief that Nutricereals will be the next smart food and specially millet, being a dry land crop, will improve livelihoods at the rural level and at the same time offer nutritious products to the urban consumers. We believe that there is a big market for the company’s products in India and beyond.”
Inner Being’s key competencies have been innovation of the health-enriched food developed through its R&D where the focus is on launching nutri-foods that are rich in plant protein, rich in dietary fibre, gluten-free, low in glycaemic index (GI), natural and pesticide free.
Inner Being is the first company to be incubated by a-IDEA, a Technology Business Incubator (TBI) hosted by ICAR-National Academy of Agricultural Research Management, Hyderabad (ICAR-NAARM) and Department of Science & Technology, Govt. of India (DST, GOI), and it also received the initial seed funding under the start up initiative. The company has technical tie-up with Indian Institute of Millet Research, Hyderabad (IIMR) for developing value added products in the Nutricereals Innovation Centre.
The company has successfully launched several millet based products like Jowar Idli, Jowar Upma, Ragi Malt, Jowar Flakes, Millet Cookies in Hyderabad and is now expanding to Delhi and Mumbai this year, and aims to expand to 10 cities in couple of years. The company willshortly introduce a range of new mixes such as Quinoa Porridge, Millet and Nut Cake, Gluten-free Pizza, Millet Pancake which will cater to health-conscious consumers.