Eat Better raises undisclosed funding from GetVantage to fuel expansion
Healthy snack brand, Eat Better said it has raised an undisclosed amount in growth funding from e-commerce investment marketplace GetVantage. The funds will be invested to fuel expansion by focusing on marketing and new product launches in the coming months.
Launched in August 2020 The Eat Better Company said it has registered strong growth and developed a customer base of over 15,000 people.
“Over the last 11 months, we’ve gotten an overwhelming response and have clocked in double-digit growth rates month on month,” said Mridula Kanoria, Founder, Eat Better. “This validates my belief that given a choice people will choose healthy, 100 per cent natural snacks for their families.”
Kanoria said having realized the importance of making healthier choices, people are looking to buy from brands that are using the best of ingredients and making snacks without the addition of any harmful preservatives or artificial flavors. “The packaged food industry is ripe for disruption and the additional capital infusion from GetVantage will enable us to supercharge growth and help our customers make healthier choices,” said Kanoria.
Besides selling its products through its website and various marketplaces, the company also has a strong gifting portfolio and counts Visa, Razorpay, Pine Labs, and Godrej Housing Finance among its customers.
As the leading revenue-based financing fintech platform in India, GetVantage has invested in over 70 digital-first brands across sectors. The firm said it is committed to driving growth for local, home-grown brands like The Eat Better Company, which are the future of e-commerce in India. The company is on track to fund over 250 brands in the next 12 months.
“We are excited to support more women founders like Mridula who are fueling entrepreneurship in India,” said Bhavik Vasa, founder, and CEO, GetVantage. “As a founder’s platform, we look to empower India’s most exciting entrepreneurs and e-commerce businesses like Eat Better with revenue-based financing to catalyse growth.”
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