Vegetarian (Sattvik) food chain Sattviko has acquired FYNE Superfood, a New Delhi-based packaged food products company for an undisclosed amount. The acquisition aims at further scaling Sattviko’s product portfolio.
Post acquisition, the brand and products of Fyne Superfood will be merged with Sattviko. Darpan Majumdar, one of the co-founders of FYNE Superfood, will join the company and lead the intellectual property transfer for the next six to seven months.
FYNE was founded by Majumdar and Aanan Khurma, with an aim to sell natural and chemical-free packaged food products such as Chia Seeds, Flax Seeds, Quinoa etc.
While, Sattviko was founded in 2013 by Prasoon Gupta, Ankush Sharma and Rahul Gupta. It runs quick-service restaurants and offers sattvik food – a food without onion and garlic – and also sells ayurvedic products through its online marketplace. The company also introduced its delivery service in February last year.
In November 2015, the company acquired Jaipur based food delivery startup CallOnMeal. In February this year, Sattviko also raised around $300K (INR 2 Cr) from angel investors Sumit Jain, co-founder of CommonFloor.com, Rajat Jain non-executive Director at Xerox India & Former Managing Director – Xerox India and Sanjay Bhasin, Vice President of Samsung’s Network Business.
Other startups in the space who have raised funding are Yumlane, Maiyas Beverages and Foods Pvt. Ltd and Mambalam Iyers Food Products Pvt. Ltd.