Bangalore, October 25, 2016 – Petoo, a research and science focused food manufacturer and seller, raise Angel Round from Axilor Ventures on LetsVenture.
“Petoo has one of the most experienced teams in the country in the food domain. We like their vision, analytical approach and execution focus in a category which is 85% of the overall market. The team’s unique approach led by innovations in food technology and a proven model on the B2C front positions them strongly for penetrating large, new market segments.” said Payal Shah, Head of early stage funding at Axilor VC and lead investor in the round.
“Petoo is working on a novel idea – of creating (Indian) food that stays fresh longer. Backed by extensive research and science, the company is working on innovative ways to keep food fresh for longer, without compromising on the taste. The founders make a great team and bring deep domain expertise. They have a great vision for the company and have got a great set of experienced investors onboard, including Axilor Ventures. I am very excited about Petoo and their journey ahead.” said Shanti Mohan, founder of LetsVenture
Petoo has successfully developed solutions which can help any Indian food business to expand to multiple locations without the need to set up a kitchen everywhere or need to hire more chefs. This is a major breakthrough in making Indian food business scalable which was difficult and more capital intensive till now. The solution uses the combination of chef independent production method and uniquely developed cooking processes using food science. With this, Petoo has started expanding through Franchise and is in active talks with multiple Franchise partners from across India.
Petoo is a research/science focused food manufacturer & seller. They have developed Indian food products which are distributed through Retail, B2B & QSR. Petoo aims to make regional Indian food easily accessible across the globe and make Indian cuisine the most loved food across the world.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are 12000+ startups and 2000+ investors on the platform. LetsVenture works with startups and investors on discovery, syndication and closure. This involves managing due diligence and paperwork closure. LetsVenture has enabled more than 85 startups to raise over $35mn.