Indian Angel Network has invested an undisclosed amount in Bangalore-based Jiyo Natural which offers personalized nutritionally balanced, calorie monitored and chemical free food through web and app.
Rajiv Mehta and Sumit Dhingra have led this round of investment and will join the board of the company.
The investment will be primarily utilized towards marketing, technology and infrastructure, the company said.
“With this investment we intend to reach out to at least 80% of the city (Bangalore) – before expanding to 5 other cities (Mumbai, Pune, Delhi-NCR, Chennai and Hyderabad) in the next expansion phase. It’s over Rs.12,500 crore market wherein we are growing at 10-15% annually. IAN have been extremely supportive in our journey, and we intend to work with them to build a very strong brand presence for Jiyo Natural in the country and abroad,” said Mr. Rajesh Singh, Co- founder of Jiyo Natural.