Bajo Foods Raises $2 Mn For Two New Product Ranges The two new brands, DiabeSmart and Protein Chef, will cater to diabetics and protein-deficient people in India.

Bajo Foods Private Limited, the parent company of Indian Keto brand Lo! Foods, has raised a funding of $2 million for two new product ranges, DiabeSmart and Protein Chef.

Mount Judi Ventures is the lead anchor in this funding round, its first investment in the FMCG space. Other investors who participated in this fundraiser include S Ramadorai (former VC, TCS), KP Balaraj, founder of KPB Trust and former co-founder of Sequoia Capital India and WestBridge Capital.

With this funding, Bajo Foods expects to grow by 3.5 times in the next 18 months and expand its channels to offline retail, B2B and hospitals, said a statement. Aiming to impact health at scale, the company claims to be on a mission to reduce the amount of carbohydrates consumed by India from 75 or 85 per cent to 50 per cent.

DiabeSmart is a new brand built specifically for diabetics. According to Bajo Foods, the products have been tested to have a 35 to 50 per cent lower blood glucose spike compared to regular food products. The other brand, Protein Chef, provides a low carb, high protein powder to solve protein deficiency in India.

"India is referred to as the Diabetes Capital of the World. This fundraising is for our two newly built innovative product ranges, DiabeSmart and Protein Chef. The investment will expand the reach to the targeted audience and accelerate our growth, helping us in our vision of positively impacting the health of Indians," said Sudarshan Gangrade, CEO, Bajo Foods.

"The Diabetes and Protein market segments that Bajo Foods has built products for is extremely large. The company has built clearly differentiated products with high Gross margins structure. With a strong team and founder, we believe Bajo Foods has a long term play in the Indian Packaged Foods segment," said KP Balaraj, founder of KPB Trust.