Ripsey, a food-tech platform, has raised Rs 1 crore ($133,093) as part of a Rs 2 crore fundraising round, according to reports.
The Mumbai-based company, set up in July 2018 by Silky Singh and Alekhya Boora, has raised this funding through the ah! Ventures angel investment platform, BW Businessworld reported.
The commitment to the food-tech platform represents the 58th investment made by ah! Ventures, taking its portfolio to $26 million along with nine exits. ah! Ventures was set up in 2010 and uses its platform to bring together investors and entrepreneurs.
Ripsey says its nutrition-focused service helps customers develop a sustainable and healthy eating lifestyle. It operates on a subscription-based model and works with nutritionists to develop personalised meal plans.
The company also lets users maintain a food diary. This is the second funding round for Ripsey, with the company having raised Rs 1 crore in a seed round in May last year.
It will use the capital from this latest exercise to enhance its technological infrastructure, as well as scaling up operations.
VCCircle has reached out to Ripsey on the details of the fundraising, and will update this report accordingly.
Singh said the company is aiming to provide a full-stack solution – including meal planning, cooking, delivery, and consumer progress – through its platform.
“Given the current tense environment due to COVID-19, the focus on eating and staying healthy is gaining more prominence and Ripsey is well-poised to benefit from the same as well as benefit those who are seeking a healthy lifestyle,” ah! Ventures venture partner Atul Javeri said, as per the report.
The investment in Ripsey is indicative of growing investor interest in the nutrition-focused health-tracking space. Both food and non-food-based companies have raised capital.
Last month, for example, Matrix Partners India led a $5 million (around Rs 37 crore) Series A round in Mumbai-based OZiva. The company, operated by Zywie Ventures Pvt. Ltd, offers products ranging from fitness to skin and hair nutrition.
In April, startup incubator and accelerator Venture Catalysts invested in Aesthetic Nutrition Pvt. Ltd, which markets and sells chewable dietary supplements under the Power Gummies brand name.
Previously, Power Gummies had raised funding from consumer-focussed DSG Consumer Partners, VCCircle reported in January.
