Lo! Foods, a low carb and Keto-friendly range of packaged foods brand, said on Thursday it has raised $500000 from a clutch of well-known angel investors, including Anuj Golecha, co-founder of Venture Cataylst, Rashmi Daga, founder of Freshmenu, Raveen Sastry, co-founder of Myntra, and Mitesh Shah, CFO of BookMyShow.
Lo! Foods has simultaneously inducted PC Musthafa, co-founder and CEO of ID Fresh Food India, and Anuradha Narasimhan, ex-CMO of Britannia, as advisors on board.
Lo! Foods was founded in early 2019 by former Ola senior executive Sudarshan Gangrade. “Our products have seen great traction and validation with our consumers, with extremely high monthly repeats. Fine dining spaces such as 5-Star hotels have also validated our product quality and taste by creating exclusive menus. We believe we are now ready to further scale up our operations to the next level," Gangrade said in a press statement.
Lo! Foods' range of products includes atta, biscuits, snacks, namkeens and chocolates. The product is available on top health platforms such as Freshmenu, Eat Fit and e-commerce sites, including Amazon, Flipkart and Big Basket. Lo! Foods recently announced a partnership with Hyatt Place, Hyderabad, who have rolled out an all-day low carb and keto-friendly menu, which includes breads, paranthas, pastas, brownies — all created by using Lo! Atta.
Explaining his reason to invest in the startup, Golecha said, “Sudarshan from Lo! Foods stood out for his attempt to solve a very real and pressing health issue in India — that of obesity, diabetes and cardiac risks."