Evolve Snacks raises funds from ITI Growth Opportunities Fund

Health food startup Evolve Snacks has raised an undisclosed sum from ITI Growth Opportunities Fund, a venture capital firm. The fresh capital will be used by the company to enter the retail space.

Presently, the company sells through its online portal. Moving forward, it will be collaborating with retail brand chains as well as with traditional FMCG distributors.

In 2018, Investment Trust of India (ITI) Group unveiled an early-stage venture capital fund, ITI Growth Opportunities Venture Fund. This is the capital firm’s third investment after backing smart mobility startup Revos and healthcare firm Ten3t.

The food startup was founded by Angad Sehgal. The company raised its first round in 2017 from 50K Ventures, a Hyderabad-based early-stage investment firm.

Mohit Gulati, CIO & Managing Partner, ITI Growth Opportunities Fund, said, “Today's Indian is more evolved and conscious of their food habits. We are excited to see mass adoption to better tasting healthy offerings in the times to come.”