Floryo raises USD 2Mn in pre-series a round led by 3ONE4 Capital

September 08, 2022 00:40 IST | ANI Press Release
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Floryo raises USD 2Mn in pre-series a round led by 3ONE4 Capital

Bengaluru (Karnataka) [India], September 8 (ANI/GPRC): Fresh and customizable, value-added staples brand, Floryo has raised USD 2Mn in Pre-Series A round led by 3ONE4 Capital. The new-age D2C brand also saw participation from prominent investors like Vivek Gupta and Abhay Hanjura (Founder Licious), Kunal Shal (Founder Cred), Aman Gupta and Sameer Mehta (Founder Boat), Varun Alagh (Founder Mamaearth), Rishi Vasudev (Founder G.O.AT Brandlabs), Vijay Arisetti (Founder MyGate) amongst others.

Floryo has also raised USD 400K in venture debt from Alteria Capital. The Bengaluru based brand will use the funds to expand its product line, strengthen the brand building channels and fuel its geographical expansion.

Floryo is a new age D2C brand, with a mission to reimagine the daily household consumption categories. Inspired by traditional practices and fueled by technology, it aims to disrupt the age-old supply chains practices followed by current incumbent in FMCG space. At the core of Floryo is the promise to deliver the most responsibly sourced, freshly produced daily household staple products. The company has launched its first range of products with over 40 SKUs of freshly milled flour that are customized to meet functional nutrition requirement ranging from ragi flour, multigrain atta, gluten-free atta, diabetic care atta, cholesterol care atta, keto friendly atta, vegetable-mix atta etc.

Floryo has tapped into a more sustainable and authentic way of producing flours. The stone-milled, chakki-fresh whole grain flours offered by the brand are milled-to-order and delivered at customer's doorstep within 24Hrs, thus making it the freshest atta available in the market today. Moreover, customers can choose from various alternatives and customize their flours as per their preference. It also offers online consultation on diet and nutrition through its in-house panel of expert nutritionists.

Floryo is working with a vision to build a strong supply-chain model driven by technology which is focused on ensuring best in class made-to-order, freshly milled, value-added staples delivered at the consumer's doorstep. Aided by the technology, Floryo has set-up a flexible processing unit that not only allows it to ground flours on-demand but also customize it to individual's preference. Floryo is currently operational in Bangalore and plans to expand across all metro cities by next year.

Talking about the brand, Manohar Kumar, CEO and Founder of Floryo, said, "Floryo is inspired by the traditional methods of processing food and we aim to disrupt the current packaged food landscape, especially in value-added staples segment, with the help of technology. At Floryo, we strongly believe that in food (packaged or otherwise), freshness is the key attribute & is a crucial marker of quality that precedes all the other attributes. Moreover, when it comes to nutrition one size doesn't fit all. Hence customization of food for individual - based on health and dietary needs is the future of packaged food. We are committed to work on product innovations with the help of technology to revolutionize the packaged food industry."

"At 3one4, we are excited to partner with Manohar and his team as they build out Floryo. With the rise in disposable income and increase in consumer interest towards healthier alternatives, daily consumption is a category that's ripe for disruption. Floryo's mission to provide fresh alternatives for daily nutrition consumption is quite an exciting one and we are privileged to be partner in their journey. - Nitya Agarwal, Vice President, Investments at 3ONE4 said. "While there has been significant shift in behavior towards conscious consumption of food choices, innovation has so far been largely towards supplemental food items which could lead to marginal health benefits for consumers. We are very excited to see how Floryo is solving this by making transformative change in the "center of the plate" daily consumption through its fresh and value-added clean offering and we are thrilled to partner in their mission, said Ankit Agarwal, Managing Partner, Alteria Capital.

Floryo is a Bangalore based, new-age D2C brand in fresh and customizable, value-added staples category. Currently it offers stone-milled whole grain flours which are milled-to-order thus making it the freshest atta available in the market. Inspired by the traditional methods of food processing, the brand has tapped into a more sustainable and rich way to produce flours. It grinds the entire grain kernel to retain all the vitamins and fiber goodness for the most nourishing flours. The whole grain stone-milled atta offered by the brand exceeds processed alternatives in terms of flavour and nutrition, offering the most nourishing flour-ever.

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