FirmRoots Pvt. Ltd, which operates the children-focused healthy snacks brand Timios, has raised capital as part of its pre-Series A round of funding.
The round has been led by Rangsons Technologies LLP, which is part of the Mysore-based NR Group. Others that participated in the round include Paipal Ventures LLP, Timios said in a statement.
The Bengaluru-based startup will use the funds for expansion, increasing its product development efforts, strengthening its existing distribution network and enhancing its technological infrastructure.
“A lot of millennial parents today are extremely conscious about what their children consume as part of their healthy diet. This increasing awareness and shift towards healthy, natural and organic food choices for children have been the key reasons behind the success of our products,” Aswani Chaitanya, co-founder at Timios, said.
Separately, Rangsons Technologies CEO Pavan G Ranga said the NR Group company was confident of its bet on Timios because of its management team and the potential of the untapped child health market.
Timios, founded by Chaitanya and Hima Bindu in 2016, says it focusses on creating age-appropriate products for children. These include categories such as cereal-type snacks, energy bars and probiotic bites.
Its products are developed for children between six months and 12 years of age. Apart from its website, its products are also sold on channels operated by FirstCry, BigBasket, Amazon and Flipkart.
In May 2018, Timios raised an undisclosed amount from the seed fund of packaged food company MTR Foods Pvt. Ltd. At the time, MTR said it would also mentor the fledgling brand on business aspects including marketing, sales and distribution strategy, food safety standards and resource management.
