MyGreens, Delhi-NCR based cold pressed juice startup, has acquired angel funding round of $1 Mn from LetsVenture.
Members Of Funding Round
This funding round was headed by Chairman and Founder of CX Partners, Ajay Relan and other venture capitalist was Sundeep Bhandari who is Director and CEO of Petrodil with some other unrevealed investors.
What Investor Said About Its Investment
Shanti Mohan who is the CEO and Founder of LetsVenture spoke about the investment and said that, “The cold-pressed juice industry continues to see exponential growth and investment activity, thanks to increased consumer awareness around health & fitness. MyGreens leverages this trend and is well positioned to become a global clean label FMCG brand. MyGreens has a great value proposition, strong competitive positioning and a solid team”.
Vision Behind Utilization Of Funds
The startup has vision of enhancement of business with the raised funds and it will target the launching of new products as well by keeping in mind about Indian Market. As per one of the informer, the company will soon strive for the next round of funding in coming 6-12 months.
The startup was launched by Rohan Gupta and Anurag Mishra in September 2015. It has a huge collection of 100% fresh and raw cold pressed juices. It affirms that it acquires a retail distribution network system of over 200 stores in marketplace.
About Mygreens In Words Of Co-Founder
Co-founder of MyGreens, Rohan Gupta said about the company that, “MyGreens is a startup that lies in a very interesting intersection of two megatrends – F&B and Health/Fitness. This funding will ignite our move into mass market products with strong links to healthy living as we believe that the real advantage India offers is its large and growing middle class that aspires for a better and healthier life. We want to pioneer the clean label movement in India”.
Strategy To Be On Top Of The Competition
It has been seen that it has acquired its contender JustDivine to go ahead in the competition. It also seeking to initiates its leg in Mumbai in coming days as well.
Packed Juices Business Has Bright Days Ahead
In a survey report revealed by Technopak, the packaged juices market at Indian marketplace is valued at $200mn and report also indicated that this is striving at a CAGR of ~15% in coming three years.
Other Contenders And Their Acquired Funds
An another startup in this arena called Fresh Food Concepts has raised Pre-series A round funding and acquired $2 MN from angel investors Ashvin Chadha and Siddhartha Gupta in December, 2016. Moreover, Raw Pressery, Mumbai based packed juice company, has also acquired a fund of $543k from Jacqueline Fernandez, Bollywood Actress. Some other startups in this arena of business are JustPressed, RawJuices, RAWKing, etc.