Delhi-based food startup Sattviko to raise over Rs.25 cr for technology upgrade

MUMBAI: Delhi-based healthy food dining chain Sattviko plans to raise $4 million ( Rs.25.6 crore) over the next three to six months to upgrade its technology and strengthen the brand.

“We have already started discussions and the proceeds from this round will be invested in building our technology, creating more content and strengthening our visibility through marketing,” said Prasoon Gupta, co-founder and director of Sattviko. Last year, the startup had raised Rs.1.8 crore as seed funding in a round led by online real estate portal CommonFloor co-founder Sumit Jain, Xerox India non-executive director Rajat Jain and Samsung executive Sanjay Bhasin. Launched in February 2014, Sattviko recently expanded its offerings to include natural and herbal yogic products. Sattviko, which has four dining outlets in Delhi, plans to expand its food chain to Mumbai and Bengaluru with this round of funding. It will also use the funds to build its mobile and web-based platforms.

Sattviko recently collaborated with an Indian-origin scientist and professor of the US-based Carnegie Mellon University, who will helm the development of its mobile platform.