Hyd plant-based nutrition startup Earthful raises Rs 5 crore

HYDERABAD: Earthful, a direct to consumer (D2C) plant-based nutrition player from Hyderabad, on Thursday said it has raised Rs 5 crore in a round led by seasoned Hyderabad-based entrepreneur Srinivasan Namala, who built Porus Labs and exited to Bain Capital for over Rs 2400 crore.
OYO Rooms founder Ritesh Agarwal will also be participating in the fundraise with Rs 75 lakh following his investment commitment on Shark Tank India Season 4. The company has raised over $1 million (approx. Rs 8 crore) till date in funding including the current investment.
The startup, which was founded in 2020 by IIT Kharagpur alumnae and sisters Veda Gogineni and Sai Sudha G, plans to deploy the funds for research and development of new products and strengthen its brand presence across the country.
The company is also focused on building a strong leadership team across marketing and operations to accelerate its next growth phase, said Veda Gogineni, co-founder, Earthful said the funding will help the company expand its presence across India.
Porus Labs founder Srinivasan Namala said over the next 5-7 years, the nutraceutical market in India is expected to experience significant growth, driven by a rising number of health-conscious Indians.
The startup, which has an ARR of Rs 15 crore with a customer base of one lakh and repeat ration of 40-50%, is gunning for 5X growth over the next 12-18 months driven by momentum from its appearance at Shark Tank and strategic branding collaborations.