Lo! Foods, a low carb and keto friendly range of packaged foods brand, has raised US$ 0.5 million in seed funding from a clutch of well known angels from financial and FMCG vertical. Some of the angels who participated in this round include: Anuj Golecha, Co-founder, Venture Cataylst, Rashmi Daga, Founder, Freshmenu, Raveen Sastry, Co-founder, Myntra, Mitesh Shah, CFO, BookMyShow, Sunil Chhabra, Advisor & Founding Team Member, Jumbotail, Gaurav Arora,Chief Investment Officer, ASK Wealth.
Lo! Foods has also brought on board advisors to mentor the founder for the next phase of growth of the brand. Advisors include stalwarts of the FMCG industry like PC Musthafa, Co-founder CEO, ID Fresh Food India and Anuradha Narasimhan, Ex CMO, Britannia.
Speaking on the investment Sudarshan Gangrade, Founder, Lo! Foods says, “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. Fine dining spaces like 5-Star hotels have also validated our product quality and taste by creating exclusive menus. 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 organization. We believe we are now ready to further scale up our operations to the next level.”
The brand already has the widest low carb and keto friendly packaged snacks range in India. Lo! Foods range of products includes Atta, Biscuits, Snacks, Namkeens and Chocolates. The product is available on top health platforms like Freshmenu, Eat Fit and e-commerce sites like Amazon, Flipkart and Big Basket. With the infusion of fresh funds, Lo! Foods will look to further scale up its online presence aggressively.
Recently, Lo! Foods announced a partnership with Hyatt Place, Hyderabad, who have rolled out an all day low carb and keto friendly menu which includes breads, paranthas, pastas, brownies – all created by using Lo! Atta.