Bajo has raised $2 Mn in a fresh funding round led by Mount Judi Ventures
The startup will use the fresh capital for brand building of its new product ranges and expand its distribution channels to offline retail, B2B and hospitals
It also looks to expand its leadership team in branding and revenue generation verticals
Direct-to-consumer (D2C) startup Bajo Foods has raised $2 Mn in a fresh funding round led by Mount Judi Ventures.
S Ramadorai and KPB Trust’s founder KP Balaraj also took part in the funding round.
Bajo will use the funding proceeds for brand building of its new product ranges and expand its distribution channels to offline retail, B2B and hospitals. The startup also looks to expand its leadership team in branding and revenue generation verticals.
Founded in 2019, Bajo sells low-carb keto food products such as atta, cookies, mixtures, namkeens, and chocolate, among others. It currently operates 17 cloud kitchens in four cities including Gurugram, Delhi, Bengaluru, and Hyderabad.
The startup said that its cloud kitchens deliver varied food items including parathas, rolls, sandwiches and baked food, among others.
“The diabetic and protein market segments that Bajo Foods has built products for is extremely large. The company has built clearly differentiated products with high gross margins structure. With a strong team and founder, we believe Bajo Foods has a long term play in the Indian Packaged Foods segment,” said KP Balaraj, founder of KPB Trust.
Further, the startup aims to expand to about 35 franchise-based cloud kitchens in the next 12 months in Mumbai, Pune, Ahmedabad and Chennai. It further plans to grow by 3.5x in the coming 18 months.
Bajo Foods operates through its website and ecommerce platforms including Amazon and Flipkart. The startup said it also plans to set up offline stores in the coming time.
“India is referred to as the Diabetes Capital of the World. This fundraising is for our two newly built innovative product ranges, DiabeSmart and Protein Chef. The investment will expand the reach to the targeted audience and accelerate our growth, helping us in our vision of positively impacting the health of Indians,” said, Sudarshan Gangrade, CEO of Bajo Foods.
In India, it competes with the likes of ratio, Ketofy, and ADOR Health, among others.
According to an Inc42 report, the country’s D2C market is likely to become a $100 Bn space by 2025. A Mordor Intelligence report stated that the country’s F&B market, which is inclusive of the D2C sector, is projected to become a $156.25 Bn market by 2026.