08th May 2024 – Select Brands, nurtured at JITO Incubation and Innovation Foundation (JIIF), has secured Rs 6.5 crore in Pre-Series A funding, led by Agra Gwalior Pathways and Airen Holdings. Notable investors like We Founder Circle, Prataap Snacks, Apricot Foods, Workie, and IVY League Ventures have also contributed.
The funding will fuel expansion and diversification efforts, as stated by the company. Founded by Agam Choudhary and Saksham Jain in 2022, Select Brands debuted with Kyari in April 2022, offering home-grown plants. Kyari gained rapid popularity among plant enthusiasts, boasting Rs 4 crore in sales in FY23 and sustaining monthly sales of about Rs 1.5 crore.
Choudhary revealed plans to expand into new categories while focusing on Kyari’s growth. Around 70% of the investment will boost existing brands, with the remainder allocated to new ventures.
JITO Incubation Centre offers startups essential resources such as mentorship, global networking, technology, legal and financial assistance, and business connections, streamlining their journey to success.
Conclusion
Select Brands’ successful funding round underscores its potential for growth and diversification. With strategic investments and a solid foundation from JITO Incubation Centre, the company is poised to expand its footprint and bring innovative offerings to the market.
Source:Link
