India, New Delhi, July 13, ’18: CCube Angels Network, Singapore based angel investing network has invested in Inner Being Wellness Pvt. Ltd (hereinafter referred to as Inner Being), a Nutri-food startup based out of Hyderabad. The start-up has received INR 35 million (SG $6,90,131) from partners, Atim Kabra, Vipin Agarwal, Sandesh Pandhare and few others.
Inner Being plans to use the funds raised in the current round for new product development, expansion in top-tier cities in India and few other countries, marketing activities and aims to build India’s trusted healthy lifestyle brand in the breakfast and snacks space. The recent round comprises of some prominent investors from USA, UAE, Singapore & India, including an ex-board member of ITC Group.
C S Jadhav, Director, Inner Being elaborated the vision of the company is to promote a healthy lifestyle among consumers by providing nutritious food options, which are tastier than currently available unhealthy and junk food options. Inner Being is introducing traditional foods like millets, quinoa and other ancient grains in more contemporary formats that appeal to the modern generation such as breakfast mixes, snack mixes, savory snacks, crackers, cookies, energy bars and the like.
Atim Kabra, Director, Frontline Strategy which manages CCube Angels Network, said “we have a strong belief that Nutricereals will be the next smart food and specially millet, being a dry land crop, will improve livelihoods at the rural level and at the same time offer nutritious products to the urban consumers. We believe that there is a big market for the company’s products in India & beyond.”
Inner Being’s key competencies have been the innovation of the “health-enriched” food developed through its R&D where the focus is on launching Nutri-foods that are rich in plant protein, rich in dietary fibre, gluten-free, low in a glycaemic index (GI), natural and pesticide free.
Inner Being is the first company to be incubated by a-IDEA, a Technology Business Incubator(TBI) hosted by ICAR-National Academy of Agricultural Research Management, Hyderabad (ICAR-NAARM) & Department of Science & Technology, Govt. of India (DST, GOI), and it also received the initial seed funding under the start-up initiative. The company has the technical tie-up with Indian Institute of Millet Research, Hyderabad (IIMR) for developing value-added products in the Nutricereals Innovation Centre.
The company has successfully launched several millet based products like Jowar Idli, Jowar Upma, Ragi Malt, Jowar Flakes, Millet Cookies in Hyderabad and is now expanding to Delhi and Mumbai this year, and aims to expand to 10 cities in a couple of years. The company will shortly introduce
a range of new mixes such as Quinoa Porridge, Millet & Nut Cake, Gluten-free Pizza, Millet Pancake which will cater to health-conscious consumers.
About CCube Angels Network :
CCube Angels Network is structured as a pledge fund in the angel investing space. CCube matches investors with entrepreneurs who require scale-up capital to achieve the next level in their growth trajectory. CCube embodies the power of collective investing.
• Membership is by invite only. The group numbers 400+ members currently.
• Majority of the investors, on an average, have more than US$1m in surplus investible funds allocated towards alternate investments
Estimated corpus in excess of US$100m is dedicated towards investments in early-stage companies.
CCube’s attempt is to be the first institutional investor in a differentiated high growth company. CCube is focusing on India and the ASEAN region and aims to plug its portfolio companies with the rest of the world through its partner network.
Investee Companies – Simbus Technologies, Omnipresent Retail India Pvt. Ltd.(edabba.com), Leads, Innerbeing, Kloneworld, Reasoning Global e-applications & Cashe.