Floryo, a Bangalore based D2C brand, has raised $2 million in a Pre-Series A investment round headed by 3One4 Capital. The fundraising round was also attended by prominent investors like Vivek Gupta and Abhay Hanjura from Licious, Cred founder Kunal Shal, Aman Gupta and Sameer Mehta from boAt, Varun Alagh of Mamaearth, Rishi Vasudev from G.O.AT Brandlabs, Vijay Arisetti from MyGate amongst others.
Floryo has also raised $400K in venture debt from Alteria Capital.
The Bengaluru based brand will use the funds to expand its product line, strengthen the brand building channels and fuel its geographical expansion.
“We are excited to partner with Manohar and his team as they build out Floryo. With the rise in disposable income and increase in consumer interest towards healthier alternatives, daily consumption is a category that’s ripe for disruption. Floryo’s mission to provide fresh alternatives for daily nutrition consumption is quite an exciting one and we are privileged to be partner in their journey”, said Nitya Agarwal, vice president, Investments at 3ONE4.
Floryo, founded by Manohar Kumar, provides freshly made Indian staples, notably wheat flour, on its platform. It provides a variety of whole grain flours, including beneficial multigrain flours, customized multigrain flours, diabetic care, cholesterol care, keto friendly. Customers can also personalize their wheat flour.
The firm also provides online nutritionist consultations to help customers understand their nutritional demands. It also features a manufacturing facility that processes and packages staple products.
Inspired by traditional practices and fueled by technology, Floryo aims to disrupt the age-old supply chains practices followed by current incumbents in FMCG space.
“Floryo is inspired by the traditional methods of processing food and we aim to disrupt the current packaged food landscape, especially in value added staples segment, with the help of technology. At Floryo, we strongly believe that in food (packaged or otherwise), freshness is the key attribute and is a crucial marker of quality that precedes all the other attributes, said Manohar Kumar, CEO and founder of Floryo.
