Led by Peak XV’s surge funds will fuel R&D, team and market growth
News Alliance
NATIONAL, September 25, 2024: The Health Factory, India’s leading health-focused bread brand, announced Wednesday that it has raised $3.5 million in a Seed funding round led by Peak XV’s Surge. This investment marks a significant milestone as the company continues to redefine bread consumption with a focus on quality, authenticity, and consumer well-being.
Founded in 2018 by Vinay Maheshwari and Mohit Sankhala with bakery expert and mentor Jos Vast, The Health Factory has made a name for itself with innovative offerings such as India’s first Protein Bread and Vegan Protein Bread, alongside its popular zero maida bread, all products being chemical and preservative free. The brand's products are now available in major cities, including Mumbai, Pune, Bangalore, Delhi, Chandigarh, Ahmedabad, Lucknow, Hyderabad and Chennai, through leading quick commerce platforms such as Zepto, Swiggy Instamart, and BlinkIt.
The company has recently expanded into Chandigarh, Ahmedabad, Lucknow, Chennai, and Hyderabad. It now aims to further penetrate Tier 1 and Tier 2 cities to address the growing demand for healthier bread options. The new funding will accelerate The Health Factory’s efforts in product development and R&D, driving the creation of new product segments. Additionally, the company plans to expand its retail presence in both general and modern trade channels. This investment will also enhance logistics and operational technologies, ensuring streamlined processes to support the company’s rapid growth.
Commenting on the funding, Vinay Maheshwari, Founder of The Health Factory, said, “We are thrilled to have the backing of Peak XV’s Surge along with Kartik Mehta and Ali Tambawala, Sunil Tulsiani as we enter our next phase of growth. This investment will enable us to disrupt additional markets with our health-focused offerings. We have received interest from numerous Tier 1 and Tier 2 cities, and this funding will allow us to expand our reach to more pin codes, ensuring our products are accessible to more consumers seeking healthier options.”
The company has grown multifold in the last 24 months, with a 65x increase in sales. This funding will be pivotal in amplifying the brand's retail footprint, making The Health Factory's products readily available to consumers nationwide. The future is bright, and The Health Factory is leading the charge in transforming healthy bread consumption across India.
Market / Investments / Company
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