Bengaluru-based kids’ food and nutrition start-up ‘Lil’ Goodness announced the close of its seed funding round of ₹5 crore.
The new investors in the round included Beyond Next Ventures (BNV), a Japanese VC Fund, led by Tsuyoshi Ito, President and Mayu Morishima, Executive Officer. Top business leaders such as Sajan Pillai, former CEO-UST Global, and General Partner-Season two Ventures, the family of Lalit Pai, ex-CEO, Nightingales Healthcare and Dr Muthu Krishnan, ex-CEO Tata Health have also earlier invested in the seed round.
The company, led by IIM-Calcutta alumnus, Harshavardhan and nutrition expert Pariksha Rao, seeks to empower millennial moms with a range of kids foods based on good health to strengthen immunity with a focus on quality, hygiene and food safety, while providing the convenience of anytime, anywhere accessibility.
“We are quite excited by the vision of the founders -Harshavardhan and Pariksha, in building a scientific food and nutrition brand focused on the kids. There is a huge opportunity for growth in this space especially as mothers look for healthy and hygienic solutions in the current context of Covid-19. We are impressed with the differentiated business model of the enterprise that combines the range between fresh meals and packaged foods, enabled by technology, and with a focus on principles of good nutrition,” said Tsuyoshi Ito, President and Mayu Morishima, Executive Officer, Beyond Next Ventures, in a statement.
Harshavardhan, Co-founder and CEO, ‘Lil’ Goodness, said, “We are excited to receive the additional investment support from ‘Beyond Next Ventures’. Given the current circumstances, this is indeed a good boost for the entire team. We, at ‘Lil’ Goodness’ have the vision to positively influence the eating habits of our future generations through tasty, nutritious food options. With this fund infusion, we are looking to further expand our product range and distribution of packaged foods, develop a digital interface that will enable mothers to order products directly to their homes through a contactless delivery option for the fresh meals business, ScoolMeal.”