Delhi’s Leading Cold Pressed Juice Startup, MyGreens, successfully raise $0.5 to 1 million Angel Round with Ajay Relan (CX Partners) and others on LetsVenture
Bangalore, May 5, 2017 – MyGreens, a 1.5 year old cold pressed juice startup, announced today a successful Angel round for $0.5 to 1 million amount led by Ajay Relan (CX Partners) with Sundeep Bhandari (SystemsEx-Chairman, Cairn India Ltd.), Global CXOs, Senior Bankers, Industry veterans with experience in scaling up consumer businesses and other experienced investors on LetsVenture.
Currently, MyGreens is the leading cold-pressed juice brand in Delhi with retail distribution in over 200 stores and a healthy online customer base. They are scheduled for a Mumbai expansion, which is the largest cold pressed juice market in India. “MyGreens is a startup that lies in a very interesting intersection of two megatrends – F&B and Health/Fitness. We started MyGreens about a year back with Cold Pressed Juices, with a vision to provide world class products for the modern Indian consumer. This funding will ignite our move into mass market products with strong links to healthy living as we believe that the real advantage India offers is its large and growing middle class that aspires for a better and healthier life. We want to pioneer the clean label movement in India.” said Rohan, Co-Founder of MyGreens.
“When investing, I invest in an entrepreneur who can be trusted, has the experience, the vision and the integrity to deliver on the idea. Anurag and Rohan are great in all these respects. Anurag has worked with BCG and Monitor (Deloitte) consulting, which gives him a good understanding of strategy. The company has a solid competitive positioning v/s similar companies that have been funded recently and will quickly grow in newer markets that it is exploring. ” said Ajay Relan, Founder Chairman – CX Partners and lead investor in the round.
“The cold-pressed juice industry continues to see exponential growth and investment activity, thanks to increased consumer awareness around health & fitness. MyGreens leverages this trend and is well positioned to become a global clean label FMCG brand. Both Anurag and Rohan bring tremendous skills along with a passion for health and fitness. MyGreen’s acquisition of JusDivine also demonstrates the founders’ vision of bringing rapid expansion and scale. The team has highly acclaimed nutritionists and taste experts onboard, which is a huge differentiator.
MyGreens has a great value proposition, strong competitive positioning and a solid team. LetsVenture will continue to be part of their exciting journey ahead. ” said Shanti Mohan, Founder and CEO of LetsVenture.
MyGreens hopes to become the largest cold pressed juice company and at a higher level, they want to lead the “clean label” f&b revolution in India with the target to become India’s first international FMCG brand focussed on F&B. Both founders mentioned that they will start looking out for their next round in 6-12 months from now
Sundeep Bhandari is ex- Chairman of the Corporate Advisory Board of Cairn India and a well respected figure in the oil and gas industry, and is credited with establishing several successful oil and gas ventures over the last two decades. He is currently the Director & CEO of Petrodil.
Ajay Relan is one of the pioneers of equity investing in India. He is the Founder Chairman of the private equity group CX Partners. Prior to starting the fund, Ajay was the Chief exec at Citi Venture Capital International from its inception in 1995. He started his career with Citi in 1976.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are 12000+ startups and 2200+ 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 100 startups to raise over $40mn.