Home » India » Matrix, Sauce VC back &Me with $1 million round

Matrix, Sauce VC back &Me with $1 million round

Mar 12, 2019 | Emerging Trends, India

Matrix partners and Sauce VC have teamed up to invest $1 million in &Me, a food and beverage brand founded by Stanford business school alumnus Ankur Goyal.

The investors have subscribed to new shares in &Me’s parent company Merhaki Foods and Nutrition, RoC filings show. Bengaluru-based &Me manufactures food products and beverages exclusively for women that serve their health, nutrition and fitness needs.

Its products include liquids that relieve PMS symptoms such as cramps and also provide relief for patients suffering from polycystic ovary syndrome. “We are determined to solve many such challenges for women in the most convenient, healthy and tasty formats,” Goyal said.

This is Matrix’s second investment in the company after it led a seed round in August last year. “&Me’s core differentiator lies within its exceptional product and brand positioning that targets urban Indian women whose daily lifestyle denies them benefits of essential micronutrients,” Matrix India’s vice president Sanjot Malhi said.

Make an Enquiry
Fill out the form and a member of our team will get back to you shortly.Usual response time 1-2 hours.

Matrix’s estimates place the size of the functional foods and beverages market in India at $1 billion. Sauce VC is a consumer-focused fund launched by former 3i private equity executive Manu Chandra who has been an early backer of companies such as yogurt maker Epigamia, in which French dairy giant Danone recently bought a stake.

Me will use the fresh funding to expand its team and scale operations nationally apart from widening its product offering. Its products are currently distributed through modern retail chains in southern India such as Nilgiri’s Godrej Natures Basket and Namdhari. The products are also sold online through ecommerce sites such as Amazon.

Goyal, who has previously worked with consumer brands like Nestle and PaperBoat, launched &Me two years ago. Matrix manages $1 billion of investments in India. It has been an early investor in several market leading companies such as Ola, Quikr, Dailyhunt, Treebo, Razorpay and Ziploan.

Article Source : economictimes

Up to 15% Returns on Investment

Fixed return investments fully backed by properties.

*15% p.a. paid at the end of the term on capital gain option*


Submit your email address and a member of our team will contact you shortly. Usual response time is 1-2 hours.

Naspers Is Said to Eye Fintech Deals in $1 Billion India Push

Naspers, Africa’s largest company based on market value, is gearing up to spend $1 billion in India in the form of investments focused on the financial technology market. According to a report in Bloomberg, citing people familiar with the matter, Naspers is looking...

Spain’s Puig makes India entry with investment

Spanish fashion and fragrance company Puig SL has marked its entry into India by picking a minority stake in private equity-backed Kama Ayurveda Pvt. Ltd. Puig will infuse Rs 100 crore ($14.4 million at current exchange rate) as part of the transaction and will have...



Flexible Terms

3 year investment plan, ideal for first-time investors.

Flexible Payment Options

Option to receive interest payments monthly or quarterly.