9Unicorns, a leading accelerator fund, has led a seed round of around $1 million in peanut butter brand MYFITNESS. The funding round also witnessed participation from Ashutosh Valani and Priyank Shah, Co-founders of Beardo, Arjun Vaidya, founder of Dr.Vaidya’s, along with Nutrabay founders Sharad Jain and Shreyans Jain.
Founded in 2019 by Mohammad Patel and Rahil Virani, the Silvassa-based start-up has been able to launch India’s first natural peanut butter with 95% less oil separation and a unique crispy variant of chocolate peanut butter keeping the nutritional values intact.
Speaking about the funding, Mohammad Patel, Co-founder and CEO at MYFITNESS said, “With the pandemic increasing focus on a healthy lifestyle and nutrition, the health food segment in India is bubbling up delightfully. With a strong focus on world class quality and taste in all our products, we are a strong wicket for stellar growth.While others celebrate funding, we view it as a responsibility towards our investors and the customers who believe in us and the brand.”
Rahil Virani, Co-founder and CMO at MYFITNESS said, “Despite being from a small town, we always believed in our vision of creating a world class brand with the cleanest and nutritionally balanced products. MYFITNESS Peanut Butter is the proof of our consumer-centric product innovation; a high protein, nutritious and delicious treat. We are quite excited and overwhelmed with the fact that it is India’s first Peanut Butter brand to have received funding from India’s top accelerator fund and veteran D2C founders.”
Dr Apoorv Ranjan Sharma, President, and Co-founder, Venture Catalysts, said, “Startup funding for me is more like investing in the founders and the market in which they are trying to create their niche. To me, MYFITNESS founders have exceptional capabilities of creating a strong top & bottom line in the health food segment. We are very confident of MYFITNESS’s growth story and believe that our investment will help further establish its leadership in the market”
Adding to this, a joint statement from Ashutosh Valani and Priyank Shah, Co-founders of now acquired Beardo said; “India’s Healthy foods market is showing rapid growth and MYFITNESS is a perfect example of a brand that is creating a new sub category for itself. Great founders with a good strategy is a combination geared to go a long way!”
Arjun Vaidya, founder of now acquired Dr.Vaidya’s said; “As a D2C founder myself, I was very impressed when I met the MYFITNESS team. Their obsession with a high quality product and growth mindset has resulted in exponential growth. While I’m very excited to partner, I must confess I was a customer before being an investor”
Sharad and Shreyans Jain, founders of Nutrabay said; “MYFITNESS has brought their A game to the table with the kind of product quality and growth that we have seen. We, at Nutrabay, are excited to invest and be a part of such, young, dynamic and energetic team!”