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9Unicorns, a leading accelerator fund, has led a seed round of approximately $ 1 million in peanut butter brand MYFITNESS. Ashutosh Valani and Priyank Shah, co-founders of Beardo, Arjun Vaidya, founders of Dr Vaidya’s, and Nutrabay founders Sharad Jain and Shreyans Jain also took part in the funding round.
The Silvassa start-up, founded in 2019 by Mohammad Patel and Rahil Virani, was able to bring India’s first natural peanut butter with 95% less oil separation and a unique, crispy variant of chocolate peanut butter to the market that keeps the nutritional values intact.
Speaking of financing, Mohammad Patel, Co-Founder and CEO of MYFITNESS, said, “With the increasing focus of the pandemic on a healthy lifestyle and a healthy diet, the health food segment in India is simmering happily. With a strong focus on world-class quality and taste in all of our products, we are a strong gateway to outstanding growth. While others celebrate the funding, we see this as a responsibility to our investors and customers who believe in us and the brand. “
Rahil Virani, Co-Founder and CMO at MYFITNESS, said, “Although we hail from a small town, we have always believed in our vision of creating a world-class brand with the cleanest, nutritionally balanced products. MYFITNESS peanut butter is proof of our consumer-centric product innovation; a protein-rich, nutritious and delicious treat. We’re pretty excited and overwhelmed by the fact that this is India’s first peanut butter brand to be funded by India’s leading accelerator fund and veteran D2C founders. “
Dr. Apoorv Ranjan Sharma, President and Co-Founder of Venture Catalysts, said“For me, startup funding is more of an investment in the founders and the market in which they are trying to create their niche. For me, the founders of MYFITNESS have exceptional skills to generate strong sales and earnings in the health food segment. We are very confident of the growth story of MYFITNESS and believe that our investment will help to further expand its market leadership. “
There is also a joint declaration by Ashutosh Valani and Priyank Shah, co-founders of Beardo said; “The Indian market for healthy foods is growing rapidly and MYFITNESS is a perfect example of a brand creating a new sub-category. Great founders with a good strategy are a combination that can make a big difference! “
Arjun Vaidya, founder of the now acquired Dr.Vaidya said; “As a D2C founder, I was very impressed when I met the MYFITNESS team. Their obsession with high quality products and their growth mindset have resulted in exponential growth. While I’m very excited to become a partner, I have to admit that I was a customer before I became an investor. “
Sharad and Shreyans Jain, founders of Nutrabay, said; “MYFITNESS brought their A-game to the table with the kind of product quality and growth that we’ve seen. We at Nutrabay look forward to investing and being part of such a young, dynamic and energetic team! “
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