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CCube Angels Network invests in Hyd-based nutri-food start-up Inner Being
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Saturday, 21 July, 2018, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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CCube Angels Network, the Singapore based angel investing network, has invested in Inner Being Wellness Pvt Ltd, a nutri-food start up based out of Hyderabad. The start-up has received Rs 35 million (SG$6,90,131) from partners Atim Kabra, Vipin Agarwal, Sandesh Pandhare and a 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 the United States, the United Arab Emitates, Singapore and India, including an ex-board member of ITC Group.
C S Jadhav, director, Inner Being, elaborated that the vision of the company was to promote a healthy lifestyle among consumers by providing nutritious food options, which are tastier than the 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, savoury snacks, crackers, cookies, energy bars and the likes.
Atim Kabra, director, Frontline Strategy, which manages CCube Angels Network, said, “We have a strong belief that nutricereals will be the next smart food. In particular, millets, 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 innovation of the health-enriched food developed through its research and development (R&D), where the focus is on launching nutri-foods that are rich in plant protein, dietary fibre, gluten-free, low in glycaemic index (GI) and 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) and the Department of Science and Technology, Government. of India, and it also received the initial seed funding under the start up initiative.
The company has technical tie-up with the 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 and millet cookies in Hyderabad, and is now expanding to Delhi and Mumbai this year, and aims to expand to 10 cities in couple of years.
The company will shortly introduce a range of new mixes, such as Quinoa Porridge, Millet and Nut Cake, Gluten-free Pizza and Millet Pancake, which will cater to health-conscious consumers.
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