Alpino, a Surat-based D2C health foods brand, secured $1.2 Mn (INR 10 Cr) in its first funding round led by actress Shilpa Shetty, aiming to enhance its offline presence and expand internationally.
Shilpa Shetty is now the brand ambassador for Alpino, which plans to launch over 20 new products in the next two years to boost its growth.
The company reported a revenue of INR 73 Cr in FY23 and targets a milestone of INR 500 Cr within two years, reflecting a trend of celebrities investing in health and food startups in India.
Gujarat-based direct-to-consumer (D2C) health foods brand Alpino has raised $1.2 Mn (INR 10 Cr) in its maiden funding round from actor Shilpa Shetty, along with a host of angel investors, including Paresh Ghelani among others.
With this funding, the startup has also roped in Shetty as its brand ambassador.
Alpino plans to use the fresh capital to boost its offline presence, drive overseas expansion and fuel product innovation.
Founded in 2016 by Chetan Kanani, Hiren Sheta, Umesh Gajera, Priyank Vora, Milan Gopani and Mahatva Sheta, Alpino offers a range of peanut-based products including peanut butter, super rolled oats, super muesli, and peanut protein isolate powder.
It aims to launch over 20 new products in the next two years.
“Alpino embodies this philosophy perfectly, they truly make healthy eating fun. Their natural peanut butter has been a staple in my home; my kids love it too,” Shetty said.
“Shetty’s dedication to transforming India’s approach to health and her genuine love for our products make her the ideal face for our brand,” Kanani added.
Alpino claims to have logged a revenue of INR 73 Cr in FY23 and aims to become a INR 500 Cr brand in the next two years. It also claims to have served more than 2.5 Mn customers to date.
The investment aligns with the growing trend of celebrities backing health and food startups in India. In June 2024, Olympian PV Sindhu invested in Greenday’s ‘Better Nutrition’ brand and became a strategic investor for D2C consumer health startup Hoop in July.
Cricketer KL Rahul recently invested in Boldfit, a D2C fitness brand, and earlier this month, actor Mahesh Babu made a strategic investment in Fitday, a Hyderabad-based nutraceutical startup, through his production house GMB Entertainment.
