Bengaluru-based nutrition and health foods marketplace Cora Healthcare Pvt Ltd has raised Rs 4.6 crore ($567700) in seed funding from angel network Indian Angel Network (IAN).
Angel investors who led the round were Vishnuraj Kunjur, KRS Jamwal, and Ajay Upadhyaya, said Cora Health in a statement on Monday.
Other investors who joined the round include Tholons Capital, family office of Apurva Parekh, executive director, Pidilite Industries Ltd, and Kushagra Pant, managing director, Nomura, it added.
The startup will use the fresh capital to boost its tech and engineering proficiency that will help the company to expand its customer base.
Earlier this year, the company had raised Rs 1.95 crore in a pre-seed round led by multiple marquee angels, including Lenskart founder Amit Chaudhary; Tata Industries’ executive director KRS Jamwal; Everstone Group vice chairman Dhanpal Jhaveri; Nomura MD Kushagra Pant; Visa director Neha Saraf; Flipkart director Anusuya Roy; All E technologies founder Ajay Milan and Headstart investor circle. Pidilite's Parekh had also invested in that round.
Cora Health was founded by Snigdha Kumar and Shrijit Venkatesh in a bid to offer healthy food choices to its consumers. The company was a part of 100X.VC’s Class 03 portfolio and launched in May 2020.
The startup is building its core team to reach 10 million users in the next three years, said Kumar. It is on track to grow its revenue by 3-4x by next year, she added.
The Indian Angel Network currently operates in seven locations from 12 countries including India and the UK. The network has funded startups and has launched the IAN Fund. Some of its investee companies include Druva, Box8, Sapience Analytics, WOW Momos, Consure and Fareye.