A pre-Series A investment led by Fireside Ventures has secured Rs. 20 crore ($2.3 million) for the kids' nutrition-focused food business Troovy. Veltis Capital, Spring Marketing Capital, and Sharrp Ventures are additional investors.
In 2023, Troovy had already raised an undisclosed seed round. It intends to expand product development and distribution using the available funds.
Troovy, which was founded by Aditya Mukherjee and Mansi Baranwal, sells items including multi-millet protein milk mixes, protein instant pasta, protein vermicelli, high-protein chips and puffs, and sauces and spreads that improve immunity. All goods are created using natural ingredients; no processed sugar, palm oil, maida, or chemical additives or preservatives are used.
Following more than a year of testing, Troovy debuted with a ketchup that was chemical-free and nutrition-focused. The brand employs natural ingredients like soy flour and rosemary extract in place of chemical additives and protein sources including dals, makhanas, green peas, and millets.
In the expanding kids' health food market, it faces competition from companies like Slurrp Farm, Timios, and The Mumum Co.
Recently, Third-party logistics (3PL) firm Celcius Logistics, which specializes in cold chains, has secured Rs. 250 crore, or about $30 million, in its Series B round, which was co-led by Eurazeo and Omnivore and included current investor IvyCap Ventures.
The money raised will be utilized to improve technological platforms that handle temperature-sensitive logistics for the food and pharmaceutical industries as well as to extend operations to more than 1,000 Indian cities. With its new foray into pharmaceutical logistics, Celcius hopes to further solidify this industry.
