Bajo Foods raises $2 mn in funding led by Mount Judi Ventures
- ByStartupStory | December 21, 2022
Bajo Foods, the parent company of Lo! Foods, raises $2 million for two new first-of-their-kind product lines in India: DiabeSmart and Protein Chef. Mount Judi Ventures led the funding, with Mr S Ramadoral and KP Balaraj also participating.
“The proceeds will be deployed for brand building of its new product ranges, expanding channels to offline retail, hospitals, and bolstering its leadership teams in branding and revenue generation,” according to a press release from Bajo Foods.
Speaking about the fundraising, Sudarshan Gangrade, CEO of Bajo Foods, said, “India is referred to as the Diabetes Capital of the World. This fundraising is for our two newly built innovative product ranges, DiabeSmart and Protein Chef. The investment will expand the reach to the targeted audience and accelerate our growth, helping us in our vision of positively impacting the health of Indians.”
On the funding KP Balaraj, founder of KPB Trust, (Former co-founder of Sequoia Capital India and WestBridge Capital) said, “The Diabetes and Protein market segments that Bajo Foods has built products for is extremely large. The company has built clearly differentiated products with high Gross margins structure. With a strong team and founder, we believe Bajo Foods has a long term play in the Indian Packaged Foods segment.”
Sudarshan founded Bajo Foods in 2019 with the goal of providing low-carb food products such as Keto packaged foods and Keto fresh foods. The product line has since grown to include Atta, cookies, mixtures, namkeens, and chocolates. It claims to have cloud Kitchens in four cities where it serves fresh food.
According to Bajo Food, its products are available for purchase on the company’s website as well as ecommerce marketplaces such as Flipkart and Amazon.
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