Mumbai based online organic food marketplace, Naturally Yours, has raised an undisclosed amount of seed funding from angel investor Sanjay Mehta. The company will use the proceeds to expand to new product categories, increase the product range, and expand the core and the support team.
Founded in 2010 by the husband wife duo of Vinod Kumar and Priya Prakash, Naturally Yours aims to serve the growing customer base of organic food consumers, most of whom are urban health conscious millennials. With more Indians consuming organic food every passing day, the Indian organic food market is growing at a CAGR of 30% and set to touch $1Bn in 2015.
Naturally Yours team works with hundreds of organic farmers and farmer groups across India and has over 100 products under its brand name. This Internet first brand sells on portals like Amazon, Flipkart, Shopclues, Healthkart, Pepperfry and many more. It also sells all its products from its own website NaturallyYours.in. The team intends to focus on selling purely in the online medium over the next 12-24 months.
Vinod says, “We are one of the leading brands on Amazon India in their health and gourmet section executing over 2,000 orders/month. And we see this increasing over 30-40% month on month. Being an online first company has given us a huge exposure to customers across India. Today we can proudly say that we have customers in every single state across India.”
Adds Priya, “We see a huge gap in a lot of product categories in the organic and wellness industry and we will launch about 70-100 new products over the next 12-24 months to fulfil this gap.” The money will also be used to expand the core and the support team as the firm plans to target 10,000-15,000 orders per month in the next 12-24 months.
Angel investor and serial entrepreneur Sanjay Mehta stated, “Naturally Yours founding team has a strong industry insight with disruptive brand & product ideas to sell online, and become number one in Organic Food category in coming years”
This July, another organic foods marketplace JoybyNature succeeded to procure an angel investment of $1 Mn from Mumbai Angels, Contrarian Vriddhi Fund and High Networth Individuals (HNIs), which included Abhimanyu Munjal of Hero Group and Vaaman Shegal from Samvardhana Mothers Group.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.