Mumbai (Maharashtra) [India], October 26 (ANI/NewsVoir): Storia® Foods & Beverages Pvt. Ltd., a young and disruptive F&B brand in India has raised USD 6 million in series A round from Sixth Sense Ventures (SSIO-III). The capital received will be utilized to expand the business, release new products, and build a powerful distribution network across the country.
Storia's core focus is a range of healthy beverages which comprise of India's Highest fruit content Shakes, 100% no added sugar juices and 100% natural Tender Coconut water. Storia® is set to be the new-age, on the go food and beverage brand of choice for the next generation of health-conscious consumers. As consumer habits transition to those that promote a healthy lifestyle, Storia is well positioned to harness these tailwinds and scale rapidly.
Commenting on the announcement, Vishal Shah, Founder & Managing Director, Storia® Foods & Beverages Pvt. Ltd. said, "Sixth Sense and Storia®, both, believe in a similar value system of investing in a consumer of tomorrow, today, which makes us a great fit. We, at Storia®, feel great responsibility towards what our consumers eat, and being a brand that has been R&D driven, we've been able to remain true to serving products that are delicious, convenient, sustainable to the environment and inspire a healthier lifestyle. With Sixth Sense's expertise on scaling and creating consumer brands, we couldn't be more excited to partner with them in this journey of building a nutritionally stronger India and creating an ecosystem of exciting, innovative products that offer functional benefits over high sugar and empty calories."
Founder and CEO of Sixth Sense Ventures, Nikhil Vora said, "The Storia® story is one that we, the Sixth Sense team, believe is in-line with the evolution of the Indian consumer. Even though beverages as a category is one of the toughest consumer categories to crack, we do believe that the right strategy of distribution (offline focused) and a well-rounded product portfolio (targeting niche segments and expanding into related categories), can be a strong combination to crack the space. The secular trend towards habits that promote a healthy wellbeing, and a packaged beverage industry that is dominated by high-sugar and carbonated drinks, lays the perfect foundation for a new-age player to cater to the accelerating demand growth for healthier beverages. Storia, with their focus on shakes, is in a sweet spot to create strong brand salience as none of the incumbents focus on milkshakes as a core category, thus the category has seen limited to no product/brand innovation. We are excited to join Vishal and the rest of the Storia team in their journey!"
Launched in April 2017, Storia® finds its roots in celebrating togetherness that brings joy through food and stories. Considering beverages is an offline dominated category, the company has employed a pan-India omni-channel distribution strategy; Storia sells through General Trade, Modern Trade, Institutions, HoReCa, online marketplaces, and through their own website (shop.storiafoods.com). In spite of the pandemic's detrimental impact on the offline realm, Storia has managed to maintain a positive growth rate in FY21.
Storia® Foods & Beverages Pvt. Ltd. is a young and disruptive Indian food and beverage brand with a robust R&D driven product portfolio, with superior health benefits, offering unique flavours and richer taste. Storia envisions to drive innovation across major food and beverage categories with products that will help to build a nutritionally stronger nation and work towards adding ease, creating value and inspiring a healthier lifestyle.
Launched in April 2017, Storia® finds its roots in celebrating togetherness that brings joy through food and stories. Built by a strong professional leadership team with extensive experience in large MNCs and domestic brands, Storia® is present across 33 cities in India across 50,000+ retail outlets, major Modern retail stores, E-commerce platforms and their online channel too. They have already expanded into USA and South Africa and look to expand their global footprints.
Sixth Sense Ventures is India's first domestic, consumer-focused venture fund - Investing in the Consumer of Tomorrow...Today! Our core philosophy lies in partnering "early" with first-generation entrepreneurs that are disrupting large & sticky consumer categories and helping them create value by being a good sounding board.
Founded in 2014, Sixth Sense Ventures currently manages over $450M across three funds and has been ranked as one of the top performing AIFs (Alternate Investment Funds) in India by CRISIL. SSIO-III has completed 11 investments including Fraazo, Nobel Hygiene, Parag Milk, Open Secret, Good Dot, Stylam, Neeman's, Rage Coffee, Design Cafe and Bira.
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