In its seed round, which was spearheaded by Peak XV’s scale-up program for early-stage startups, Surge, high-protein, high-nutrient bread the Health Factory had raised $3.5 million. The other participants in the round are Kartik Mehta, Sunil Tulsiani, and Ali Tambawala.
The Mumbai-based company had previously raised a Rs 2 crore seed round, which was led by Venture Garage, Vikas Nahar, Happilo, and other notable angel investors, in August 2022.
In order to enable the creation of new product segments, the proceeds will be utilized to increase its research and development (R&D) and product development initiatives.
The Health Factory is a food and brewery brand that was founded by Vinay Maheshwari. Among its products is a variety of protein breads.
In addition to its subscription-based delivery, the business makes use of online ordering services like BigBasket, Swiggy, and Amazon. Additionally, it is distributed through a few locations in Pune and through offline retail stores located throughout Mumbai.
