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Jiyo Natural looking for $3-5 million for multi-city expansion, new products
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Thursday, 05 May, 2016, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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fiogf49gjkf0d fiogf49gjkf0d Jiyo Natural Pvt. Ltd, a health food start-up, is looking at around $3-5 million for expansion into other cities as well as for new products.
The two-year-old Bengaluru-based company delivers 2,000 healthy, wholesome and nutritionally balanced meals to offices and homes a day. It focusses mainly on B2B customers. It has entered with its two flagship products: Jiyo Health, a nutritionally balanced meal, and Jiyo Manage, a personalised option for consumers requiring specific health or lifestyle conditions.
“We had got funded by Indian Angel Network in October 2015. The second tranche of funds have just come in. Going forward, we will be looking for the next round which will be used to take us to national level with operations to be started in at least four other cities,” said Jayas Damodaran, MD, Jiyo Natural Pvt. Ltd, in an email interaction. The funding was for an undisclosed amount.
“We have grown consistently at 25% on a month-on-month basis for the last six months. The response from customers and the demand has been quite good. The constraint has been on the capacity front. One of the advantages of the B2B2C business is the subscription model, which helps in predictable revenue. We have not only been able to sustain the 2,000 plus meals a day run rate, but have been able to grow steadily,” he added.
With the acquisition of a leading food delivery company, Sangeetha Aahar, Jiyo’s capacity has been more than doubled. The number of meals per day will be over 3,500 in May 2016.
The customers also have been looking for varied cuisines like Continental and Chinese in some areas. Some customers are seen ordering the same healthy food for events like cricket matches, yoga sessions and board meetings. The brand also has been providing special meals like Slim Trim, Summer Coolers and Dia Care packs.
“We offer calorie and nutrient details with every meal. In the cases where meals are served in a bulk format, where consumers serve themselves, we mention the nutrient and calorie details on a per serving basis - leaving it to the consumer to decide. The personalised meal options have been our specialisation. Our Jiyo Manage range, has a wide acceptance in the market. The personalised meals are 30-40% more expensive than similar standardised meals. We are also working with some leading health care providers to offer personalised meal options to their patients post-discharge. This may be in ready-to-eat or ready-to-cook formats,” said Damodaran.
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