The agreements were exchanged at ‘Startup Sangam’ – an event organized by Ministry of Petroleum and Natural Gas in the presence of Shri Dharmendar Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Govt of India at The Taj Mahal Hotel, New Delhi, INDIA.
The funds will be used for market expansion, technology and production ramp up, the company told in a press statement.
JV Foodworks Pvt Ltd owned Hungry Foal was started 15 months ago, developed its products in technical collaborations with the scientists at SINED – TBI, NDRI, Karnal.
“Our products are available at approx 35%-40% lower cost (25g @ Rs.5) in its class and category. All our products are being sold via mom & pop stores (Kirana stores) in Delhi / NCR,” said Vivek Kaushik, CEO and founder Hungry Foal.
A Govt of India recognized Startup (DIPP3645), JV Foodworks Pvt Ltd, is making nutrition tasty, affordable and accessible to all. Hungry Foal, a bootstrapped venture, had earlier raised funds from Angels and State Bank of India ( under Stand Up India Policy, Govt . of India ).
In line with Govt of India’s vision of #MalnutritionFreeIndia, the startup is aiming for all women & children to be free from nutritional deficiencies in all its forms.