Lo! Foods raises $3.5 Mn in Series B round

Lo! Foods, a Bengaluru-based functional food startup, has raised $3.5 million in Series B funding led by Rainmatter Health (Zerodha's health initiative) and Singapore-based Capital Code, with participation from Mount Judy Ventures, Ice.VC, KPB Ventures, and other existing investors.

The proceeds will be used to expand warehousing, enhance backend technology, launch offline pilots in Bengaluru, and invest in brand-building for Protein Chef. 

According to the company, the brand has rapidly emerged as Lo! Foods’ biggest growth engine, contributing significantly to the startup's near-Rs 100 crore annual recurring revenue milestone.

Lo! Foods operates across four verticals, Protein Chef (protein enrichment), Keto Smart (weight loss), DiabeSmart (diabetes management), and GlutenSmart (gluten intolerance). 

The brand's scale has been accelerated by strong adoption on quick commerce platforms such as Blinkit, Zepto, and Swiggy Instamart, which now account for nearly 65% of its total sales. 

The firm is also preparing to launch new product lines and rebrand DiabeSmart to Sugar Smart for better market positioning.