Lo! Foods bags USD 1 million in pre-series A funding, eyes expansion
Category: #tech  By Mateen Dalal  Date: 2021-04-17
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Lo! Foods bags USD 1 million in pre-series A funding, eyes expansion

Lo! Foods, a Bengaluru-based consumer goods startup has reportedly secured USD 1 million during its pre-series A funding round, which was led by Chona Family Office, the former promoters of the renowned Hamvor Ice Cream.

Other investors that participated in the funding round were Ecosystem Ventures, KRS Jamwal, Raveen Sastry, and Pratyush Prasanna among others, cited sources aware of the development. Lo! Foods is planning to use the fresh funds to expand its existing distribution networks as well as ramp up its marketing strategies.

Founded in 2019, Lo! Foods specializes in providing a wide array of healthy low carb and keto-friendly convenience products that are essentially based on Indian cuisine. Each of these products is produced in-house and are known to offer less than 3 gms of total carbs per serving.

The founder and CEO of Lo! Foods, Sudarshan Gangrade, was quoted saying that the startup’s products have witnessed significant recognition since the past year. The fresh investment will allow the company to accelerate its growth as well as reinforce its presence in the market space, he added.

It is worth mentioning that Lo! Foods had earlier managed to secure USD 500,000 from several well-known investors such as the co-founder of Venture Catalyst Anuj Golecha, Raveen Sastry, one of the founders of Myntra, and CFO of BookMyShow Mitesh Shah.

Lo! Foods products are currently not only available on the official website but also on e-commerce platforms such as Bigbasket, Flipkart, and Amazon.

The company has also teamed up with various five-star hotel chains such as Sheraton and Hyatt to provide low carb and keto-friendly food items, sources claimed. Additionally, Lo! Foods has recently expanded its service reach to the Middle East, United States, and Singapore.

Source Credits –

https://www.exchange4media.com/marketing-news/lo-foods-raises-1-million-in-pre-series-a-funding-112359.html

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal     twitter

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More..

More News By Mateen Dalal

Chevrolet Camaro could be replaced by a potential all-electric sedan

Chevrolet Camaro could be replaced by a potential all-electric sedan

By Mateen Dalal

Reportedly, General Motors Company is planning to replace the Chevrolet Camaro with an all-electric performance sedan in a few years with the existing model likely to be phased out by 2024. There have many reports about discontinuing the Camaro&rsqu...

Sequoia India launches Spark Fellowship to support female entrepreneurs

Sequoia India launches Spark Fellowship to support female entrepreneurs

By Mateen Dalal

The Spark fellowship program is for women entrepreneurs in India and Southeast Asia. The year-long program is aimed at bringing more gender diversity and supporting startups led by women. Sequoia Capital has recently revealed the launch of a yea...

Biden names avid tech critic Jonathan Kanter as DOJ antitrust chief

Biden names avid tech critic Jonathan Kanter as DOJ antitrust chief

By Mateen Dalal

U.S. President Joe Biden will reportedly nominate Jonathan Kanter, a competition lawyer, and fervid Google critic, to head the antitrust division of the Justice Department. Kanter has been actively representing several companies in competition cases...