Indian FMCG firm Bajo Foods raises $2 million to build its diabetes and protein-based brands

• Mount Judi Ventures led the round that saw participation from S Ramadorai (former VC TCS) and KP Balaraj, founder of KPB Trust (former co-founder of Sequoia Capital India and WestBridge Capital).
  
• Bajo Foods, which began with selling Keto products, claims to provide low-carb food products across India.
  
• With this funding, the FMCG start-up said it expects to grow by 3.5 times in the next 18 months.
  
• The brand also aims to expand its cloud kitchens from 17 now to 35 within 12 months across Mumbai, Pune, Ahmedabad and Chennai.

Bajo Foods Private Limited, the parent company of Indian Keto brand – Lo! Foods, has raised \$2 million in a Series A funding round, which is to be deployed in building its two new diabetes and protein-based product brands – DiabeSmart and Protein Chef – in India.

Mount Judi Ventures is the lead anchor in this funding round, its first investment in the FMCG space. S Ramadorai (former VC TCS) and KP Balaraj, founder of KPB Trust (former co-founder of Sequoia Capital India and WestBridge Capital) also participated in the round, the company said in a statement.

With this funding, the FMCG start-up said it expects to grow by 3.5 times in the next 18 months.

“India is referred to as the diabetes capital of the world. 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,” Sudarshan Gangrade, CEO of Bajo Foods said.

DiabeSmart is a brand built to manage diabetes while Protein Chef claims to provide a low-carb high-protein powder that can be added in the batter while cooking.