Bangalore-headquartered startup, &Me, that deals in food and beverages, has raised funds in a follow-on round. Matrix Partners India, an existing investor has taken a major position in this round. The other investor in this round is Sauce.vc.
The startup that focuses on health and wellness of women claims these funds will be deployed towards expanding the company’s business both in terms of geography and product offerings. More hands will be recruited as well.
As mentioned, &Me sells products on its platform that help women in the management of their health, in particular, conditions relating to PMS symptoms and PCOS, and solutions for Fat Metabolism, Immunity & Strength (Protein). These products are based on both Ayurveda and Modern Nutrition.
“The response from the market has been overwhelming and satisfying. We’ve received a lot of warmth from our consumers who have experienced instant relief after consuming the PMS drink. We are determined to solve many such challenges for women in the most convenient, healthy and tasty formats. Our journey so far has proven our belief that women are looking for products created especially for them,” Ankur Goyal, Founder and CEO, &Me said.
Some of the products have been developed in a tailor-made fashion to suit specific requirements of women and the company claims they have received encouraging responses.
“We are excited to back Ankur’s vision for &Me - India’s first F&B brand, exclusively for women. At Sauce, we are always inclined towards consumer centric brands with razor-sharp USPs. &Me fits our thesis perfectly by being focussed on women’s daily health & lifestyle challenges with preservative free, clean & convenient products,” Manu Chandra, Founder and Managing Partner, Sauce.vc, said in a statement.
Increasing awareness among women to remain healthy and fit is another factor that helps these companies sell their products. &Me sells its prodcuts both through on its own website as well as on online and offline retail platforms.
“We believe that the $1B+ market for functional foods and beverages is still coming of age in India. &Me’s core differentiator lies within its exceptional product and brand positioning that targets urban Indian women whose daily lifestyle denies them the benefit of essential micronutrients. As early investors in &Me, we consider ourselves privileged to partner with Ankur. Our investment is true to our broader thesis of investing in home-grown Consumer brands.” commented, Sanjot Malhi, Vice President, Matrix India.