Bengaluru-based functional food startup Lo! Foods has secured $3.5 million in a Series B funding round led by Rainmatter Health (Zerodha’s health initiative) and Singapore-based Capital Code.
The round also saw participation from Mount Judy Ventures, Ice.VC, KPB Ventures, and existing investors.
The funding will be deployed to strengthen the company’s warehousing infrastructure, scale backend technology, launch offline pilots in Bengaluru, and invest in brand-building for its high-growth vertical, Protein Chef.
Founded by Sudarshan Gangrade in 2018, Lo! Foods operates across four major health-focused segments—Protein Chef (protein enrichment), Keto Smart (weight loss), DiabeSmart (diabetes management), and GlutenSmart (gluten intolerance). The startup is positioned at the intersection of nutrition and convenience, targeting India’s growing demand for functional food solutions.
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Protein Chef has emerged as Lo! Foods’ fastest-growing brand, contributing significantly to its near-Rs 100 crore ARR. The company attributes much of this growth to strategic presence on quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart, which now account for nearly 65% of total sales.
Looking ahead, Lo! Foods plans to introduce new product lines and rebrand DiabeSmart to Sugar Smart, aiming for clearer consumer communication and stronger market positioning in the diabetic-friendly food segment.
