Health food start-up Sugar Watchers secures Rs 3.6 crores in funding from multiple investors

• ByStartupStory     |    May 9, 2023

A diabetes-focused health food brand has secured Rs 3.6 crores in a recent funding round with participation from investors such as ah! Ventures Angel Platform, Chennai Angels, Mumbai Angels, Keiretsu Forum, Chandigarh Angels, and Sanjiv Rangrass (ex-ITC board and ex-head of ITC Agro division). The funding round was led by ah! Ventures Angel Platform.

The startup intends to utilize the funds to amplify its distribution and marketing efforts to expand its presence in the Indian market, and also to increase exports to markets such as the USA, UAE, Singapore, GCC, and Israel.

As per a statement from the company, Sugar Watchers offers clinically tested low-GI foods that are backed by patents. Its range of products includes staples such as rice and atta, as well as instant mixes, noodles, pasta, and snacks made from millet. The company claims that these low-GI foods have been proven to lower HbA1c levels and improve insulin resistance, making them effective for managing weight, PCOS, and diabetes.

VC firm ah! Ventures has invested in 122 start-ups, with a total portfolio value of Rs 364 crore and 16 successful exits, since its establishment. The company has made 176 investments so far, including 22 investments in 2023 through three different platforms.

According to Treman Ahluwalia, CEO and co-founder of Sugar Watchers, India has over 70 million diabetics and 80 million pre-diabetics, making it the diabetic capital of the world. Ahluwalia stated that “the root cause of this sugar epidemic is not table sugar, but rather the Indian staple diet, which is high in GI”. Rice is a significant contributor to the problem in the South and East, while Atta is the primary cause in the North and West. High-carb staples in the Indian diet contribute to 67% of the Glycemic Load or blood sugar.

Alisha Nanda, Venture Partner at ah! Ventures, who led the deal for Sugar Watchers, said, “With the COVID-19 pandemic, people have realized the importance of maintaining good health, and are looking to change their lifestyles, starting with their food choices. Sugar Watchers is creating a range of foods that cater specifically to people with diabetes or those who are pre-diabetic. While still in its early stages, the company has made great progress in securing marketplaces with promising growth potential. With a positioning in a growing market with limited competition, now is the opportune time to invest before larger players enter the space. We expect significant returns on our investment in the future.”

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