Bajo Foods raises $2M led by Mount Judi Venture
Bajo Foods Private Limited, the parent company of Keto Brand – Lo! Foods, raised $2 million in a funding round led by Mount Judi Venture. Investors like S Ramadorai (Former VC TCS) and KP Balaraj, Founder of KPB Trust (former Co-founder of Sequoia Capital India and WestBridge Capital) also participated in the round.
Bajo Foods plans to use the funds for building its new product ranges, DiabeSmart, and Protein Chef, as well as expanding its channels to offline retail, B2B, and hospitals. It will also look to bolster its leadership team in branding and revenue generation to drive its growth ambitions. With this funding, the FMCG startup expects to grow by 3.5X in the next 18 months.
Founded in 2019, Bajo Foods provides low-carb food products. Its product range has expanded from flour to cookies, mixtures, namkeens, and chocolate.
Bajo Foods also has cloud kitchens in four cities—Gurugram, Delhi, Bengaluru, and Hyderabad. It aims to expand to around 35 cloud kitchens in 12 months in Mumbai, Pune, Ahmedabad, and Chennai through the franchisee model.
What’s Up Wellness raises angel funding
Gurugram-headquartered digital-first wellness brand What’s Up Wellness has raised an undisclosed amount from a clutch of investors in its maiden angel fundraising round.
The round was led by Puneet Sehgal (former COO of Hopscotch), Sahil Kukreja (Director, The Butternut Co.), Ritika Jaisinghani (Founder, Elaa), Maharshi Ganatra (Partner, MGA), and Ritesh Ritolia (MD and Partner, Boston Consulting Group). Founders of consumer brands such as Soumya Kant (Co-founder, Clovia) and Deep Bajaj and Mohit Bajaj (Co-founders of Sirona Hygiene) also participated in the round.
The company will use the funds for team-building, scaling research and development, and strategic product development to launch new product categories and towards furthering its brand-building efforts.
Founded in 2021 by Sayantani Mandal and Vaibhav Makhija, What’s Up Wellness aims to make wellness fun and frictionless for its users. The startup has two products as of date: What’s Up Beauty Gummies for Hair, Skin, and Nails and What’s Up Sleep Gummies with muscle and nerve relaxation.
The brand currently stands at an ARR of Rs 5 crore and aims to grow it to over Rs 12 crore over the next six months, with five new product launches planned, as per the company.
Octanom Tech raises pre-seed funding
Algorithm-based investech startup Octanom Tech has raised an undisclosed amount at a pre-money valuation of $2.2 million in its pre-seed round led by Shankar Vailaya (former Director of Sharekhan Ltd), Nitin Gupta (Founder, and CEO, Asymmetrique), among other angel investors.
Octanom will deploy the fresh capital to launch its maiden platform next month, as well as to expand leadership and talent.
The startup builds platforms in the financial market space with the vision of being India’s largest retail movement for traders and investors. It plans to launch three platforms in the investech space over the next two years in India and the US.
(The copy will be updated throughout the day with the latest news.)
Edited by Affirunisa Kankudti