Torrent loads Puro Wellness with Rs 250 cr

AHMEDABAD/INDORE: Ruchir Modi's wellness startup Puro Wellness has raised Rs 250 crore from Torrent — the holding company of Gujarat-based conglomerate Torrent Group — in its pre-revenue stage.

As per some investment banking executives, Torrent has taken a significant stake in Puro Wellness, which aims to develop nutritional supplements that are meal replacements for salt, sugar, spice, rice and other products. "It is a rare case, where an investor invests a large amount in a pre-revenue stage in a startup," said an investment banker who is aware of the development.

ET's email query to Torrent and Puro Wellness on the development had not elicited any response till the time of going to press.

As per the executives cited earlier, the fund is for the venture's five year growth plan, but a large chunk of it will be utilised in the first year of operations. The fund is mainly for a marketing blitzkrieg campaign, R&D and working capital.