A lot has been said about the ed-tech, health-tech funding; but now let’s know what major changes have been brought into the necessary goods domain. A lot of start-ups have been observed in the sectors but fast-moving consumer good segment was not much the focus point.
The reason behind this is simple; this segment is quite saturated. You have brands that have a plethora of products and which have catered to the segment from more than 50 years. Competing with them remains a big deal and therefore any minor change brings a huge news.
The recent buzz is about the same segment where a Ranchi based milk dairy Puresh has bagged a raise. Let’s get inside to know more.
MORE ABOUT PURESH DAILY
The dairy is in committed state to provide best quality ghee & milk products in order to cater to the needs of freshly produced milk products. The inception was done in the year 2019 by Manish Piyush & Aditya Kumar. The founders are BITS & IIM Alumni who have a huge range of experience.
It gives proper service to milk produce through its eight franchise farms to proper 1200 subscribers in basically three cities which are Ranchi, Ramgarh & Bokaro.
The major features it offers in the products are:
- Pure
- Healthier
- Organic
- Hygiene
The common reasons why Puresh Daily should be chosen is due to the no growth hormones, self-owned farms, organic feed, hygienic milking and fresh delivery.
INSIGHTS ABOUT THE RAISE
The company has raised Rs. 1.2 crore on Saturday from Alfa ventures & Agility Venture Partners.
The founder Manish Piyush “We’re charged with the investors’ confidence as they oversubscribed our startup during this seed round. With these funds, we will expand our product base to at least 10 Tier II cities to 20,000 subscribers and partner with different entrepreneurs,”
Aditya Kumar also stated that this funding is expected to explode more & more farm to home space in the coming times to come. Many big players like Tata & Reliance are entering into the markets through their investment. The major myth has been broken that people of India will not pay for a FMCG subscription service.The funds will be used to strengthen brands and get more innovative technology in the domain of products & packaging.
The investors ; Agility Ventures also stated that this investment is beneficial because “First, milk is a recession-free business, capable of growth in COVID-19 times. It’s also highly unorganised, with several dairy farms in dire need of upgradation and market reach. Their idea has enormous potential.”
The sector that generally remains aloof from any kind of abnormalities at macro level is the consumer goods one. Therefore; start-ups here are a great venture and funding would definitely boost the rate at which the revenue is scaling up.