Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.
Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural. The investment in the year-old startup was led by IAN members, Rajiv Mehta and Sumit Dhingra, who will also be joining the board of the startup.
The venture will use the proceeds from the round of funding to expand its presence across Bengaluru, as well as enter newer markets, including, Mumbai, Pune, Delhi and the National Capital Region, Chennai and Hyderabad in its next phase of growth. "It is over Rs 12,500 crore market wherein we are growing at 10-15% annually. IAN has been extremely supportive in our journey, and we intend to work with them to build a very strong brand presence for Jiyo Natural in the country and abroad," said Rajesh Singh, Co-Founder, Jiyo Natural.
The investment will be primarily used towards marketing, technology and infrastructure, as the venture looks to create brand awareness through online and on the ground marketing, besides creating easy-to-use web and mobile apps. "Given the growing focus on personal health and fitness, we believe the time is right for Jiyo Natural to make its entry into other markets. The team is doing a great job by addressing the needs of the growing market of corporate employees, fitness enthusiasts, specialty health centers," said Sumit Dhingra, the IAN lead investor in the company.
Jiyo Natural operates two flagship products, namely Jiyo Health, a nutritionally balanced meal that claims to be wholesome, calorie counted, chemical free and cooked in a scientifically healthy manner, and Jiyo Manage, a personalised meal option for consumers in need of managing health or lifestyle conditions.
The company was founded in 2014 by Sharan Hiremath and Jayas Damodaran, with former Cisco executive Rajesh Singh, Gaurav Bhalotia and naturopath Sunandini Sharma subsequently joining the founding team.