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COMPANY REPORT

Matrix leads follow-on investment in &Me beverage for women’s wellness
Wednesday, 13 March, 2019, 13 : 00 PM [IST]
Our Bureau, Bengaluru
Bengaluru-based food and beverage brand &Me, focussed on women’s daily health and wellness, has raised a follow-on investment round led by existing investors Matrix Partners India, along with participation from a consumer venture capital (VC) fund, Sauce.vc.

The brand will use the freshly-infused capital to expand its team, scale operations nationally and widen its product offeringS.

&Me was founded in 2017 by Ankur Goyal, who serves as its chief executive officer too. He has extensive experience in the food and beverage industry, including stints at Nestle and PaperBoat. He is a graduate from IIT and Stanford University.

The brand caters to women’s health with a range of products that combine Ayurveda and modern nutrition. It focusses on solving the daily lifestyle challenges of Indian women with drinks that relieve PMS symptoms, help with PCOS and enhance their hair and skin quality from within. Further plans are underway to launch its fitness range with products for fat metabolism, immunity and strength (protein).

The drinks are also available online at Big Basket, Amazon and Nykaa, with over 400 retail outlets in Bengaluru, including Godrej Nature’s Basket, Nilgiri’s and Namdhari.

“The response from the market has been overwhelming and satisfying. We have received a lot of warmth from our consumers who have experienced instant relief after consuming the PMS drink,” Goyal said.

“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,” he added.

Manu Chandra, founder and managing partner, Sauce.vc, said, “We are excited to back Goyal’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 and lifestyle challenges with preservative-free, clean and convenient products,” he added.

“We believe that the $1 billion market for functional foods and beverages is still coming of age in India. For &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,” said Sanjot Malhi, vice-president, Matrix India.

“As early investors in &Me, we consider ourselves privileged to partner with Goyal. Our investment is true to our broader thesis of investing in home-grown consumer brands,” he added.
 
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