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Nirvaanic Life Foods plans to raise capital in nine months to one year
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Saturday, 30 June, 2018, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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Nirvaanic Life Foods, the food start-up whose brand is Nutty Yogi, plans to raise capital in a period of nine to 12 months in a bid to chalk out its growth path. For this, it is now scouting for funds.
Pallavi Gupta, founder, Nutty Yogi, told F&B News, “The company is well-funded with initial contributions from the founder and angel investors. Yet, we need to raise funds as we grow. One of the values we want to entail in the organisation is the responsible usage of capital and swift growth.”
“Healthy eating and the need to nourish oneself is a growing trend, but there is a gap in the market. The customers had to choose between healthy and tasty. Somehow, both did not go together. We believe that both need to co-exist. Only then we will make a long-term difference to the society,” she added.
“Availability and understanding of what we grew up eating is becoming scarce. So is the ancient wisdom of our grandmothers, who inherently knew what was good for us. Eating local, seasonal and fresh was inherent to our roots, regardless of the state, cuisine or culture we represented. Taking the same cues, Nutty Yogi was unveiled in July 2017,” Gupta said.
The product portfolio of healthy snacking, breakfast and gluten-free flours has received a positive response. This is because it offers nutrition with taste. The clientele primarily is confined to metros like Mumbai, Delhi and Bengaluru. There is an understanding and knowledge among consumers about healthier consumption, which is driving the growth of these categories.
“Nutty Yogi’s supply chain ensures the right pricing and quality of products. Its blends and compositions enable customers to make the right choices,” Gupta said.
The year-old company’s raw materials are sourced directly from organic farmers across India. For instance, its amaranth and buckwheat is Rajasthan. The cold pressed coconut oil is from Kerala, the pink salt is from Amritsar, the oats are from Sri Lanka, and the pickles and apples are from Shimla. The products are manufactured in Bengaluru.
Considerable focus on research and development (R&D) enables basic recipe development, ingredients sourcing, quality checks and lab testing. There are extensive product trials involving consumers before it is launched in the market. The whole cycle takes a minimum of six to nine months per product.
“Going by the popularity of coconut-, turmeric- and ghee-based products, we feel that the export of Indian health products is a promising opportunity. Currently, the products are for the domestic arena. Hence, it is expanding its retail presence in Bengaluru and Mumbai. The focus is on supermarkets and organic stores, and it is also present in chains, including MK Retail, Bengaluru and Noble Plus in Mumbai. Over the next six to nine months, the expansion of retail presence is envisaged. However, there is a huge presence on its online platform, because e-commerce is a key channel for new players,” stated Gupta.
“For food start-ups, the biggest challenge is distribution and consumer reach, as retail chains do not extend shelf space for new brands. Therefore, the struggle is ensure product visibility and garner revenues quickly and efficiently,” she added.
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