Keeros Foods plans to raise $4 million over next two years


Mumbai: Keeros Foods, a maker of diabetes snacks, plans to raise $4 million in the next two years to expand its reach to Top 30 cities in India, in an effort to tap the country’s $600-million diabetic foods market.

The company, backed by integrated incubator Venture Catalysts, hopes to achieve Rs 200 crore sales by 2025, when India is expected to have more than 15 crore diabetic people.

“India’s food market for diabetes is likely to touch $1 billion by 2023 and is growing at a CAGR of 24%. To cater to this rising demand, we are looking at aggressively expanding our operations and product offerings through external funding,” Sachin Sahni, who co-founded Keeros with his partner Simran Sahni in 2018, said. “We are already in talks with a few VCs to close our next round by mid this year. Our aim is to become a multinational brand in the diabetes-friendly food category,”

Consumers in India, the diabetes capital of the world, are getting health-conscious even as the government considers banning junk food in schools. On the other hand, fast-food chains in India are trying to overcome criticism that the dishes they serve are unhealthy, given the amount of sugar, salt and chemical additives they contain.

A host of consumer startups have seen their pricier and gourmet products fly off shelves. In fact, post the pandemic-induced lockdowns, urban consumers have been searching for healthier options beyond traditional snacks, said Keeros.

In less than two years, the Lucknow-based startup has sold 1.3 lakh units of their products through online channels and stores located in North India. “We are working towards becoming a household brand name with a presence in over 10,000 outlets in top 30 cities, very strong online presence across India and exporting to markets in Europe, North America & middle eastern countries,” Sachin Sahni said.

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