Select Brands, incubated at JITO Incubation and Innovation Foundation (JIIF), has secured Rs 6.5 crore in its Pre-Series A funding round led by Agra Gwalior Pathways and Airen Holdings.
Other marquee investors include We Founder Circle, Prataap Snacks, Apricot Foods, Workie, and IVY League Ventures.
The funding will be utilised to expand its current operations and to explore new territories and broaden its reach through category expansion, the company said in a press release.
Founded by brothers Agam Choudhary and Saksham Jain in 2022, Select Brands’ journey began with the launch of Kyari in April 2022, a D2C brand offering home-grown plants. With multiple plant varieties catering to different needs and spaces, Kyari quickly gained traction among plant enthusiasts.
“Basically, we are entering multiple categories by launching new brands and focusing on the growth of existing ones. Approximately 70% of the capital will be invested in existing sub-brand growth, which is Kyari, while around 30% will be allocated to new sub-brands,” said Choudhary in a press release.
Kyari claims to have sales of Rs 4 crore in its first fiscal year (FY23) and currently records monthly sales of approximately Rs 1.5 crore.
JITO Incubation Centre is a structured program that helps with essential resources for startups, including vital components such as mentorship, a global network, technology, peripheral services (such as legal and financial assistance), and business connections, all under one roof.
