Matrix Partners India has announced its investment in &ME, a Bengaluru based food and beverage brand, focused on women’s health & wellness.
&ME has launched a range of bioactive beverages for women. It combines ancient Ayurveda and modern science to meet their fast-paced lifestyle. According to research, 51% of Indian women, aged 15-49, are anaemic and 70% have chances of osteoporosis due to lack of essential micronutrients like Iron, Calcium and Vitamin D. &ME drinks are a combination of fruits, vegetables, spices, herbs and flowers with no added sugar or preservatives that comprise 30% of women’s daily vitamin and mineral requirements. They are carefully curated to match women’s busy lifestyle, sophisticated taste buds and are packaged to fit their purse.
Ankur Goyal, Founder and CEO, &ME said, “Consumers across the globe are steadily moving towards functional foods & beverages. What most brands fail to understand is that there cannot be a “Wonder Pill” for every body type. We have focused on specific use cases of women’s life using traditional Ayurvedic philosophy in conjunction with modern nutrition guidelines. Our team is not only catering to women’s health, but also striving to support the women’s empowerment movement.”
“We are excited to partner with Ankur, given his deep sectoral expertise and passion for F&B. We see a lot of potential in &ME being able to become a large F&B brand catering to changing, healthier consumer lifestyles. More broadly, we are excited about investing in, and partnering with more home-grown Consumer Brands across the spectrum.” said Sanjot Malhi, Vice President, Matrix India.
The drinks are categorized under Beauty (‘Grace’), Lifestyle (‘Rhythm’) & Fitness. Grace is to help women rediscover their inner beauty through a range of micronutrients that help detoxify blood, cleanse skin and strengthen hair and nails. Rhythm, on the other hand, is India’s 1st menstrual drink which has Ayurvedic herbs like Shatavari & Ashwagandha to help maintain a balance through monthly cycles by relieving pre-menstrual symptoms.
&ME is also backed by Rohit M A, MD of Cloudnine Hospitals, India’s leading maternity, women and child care service hospitals. Over the next four months, the company plans to expand across Bengaluru and then move to two more markets in South and North India next year. It is also looking to expand its product portfolio to introduce three beverages for women with Polycystic ovary syndrome (PCOS), fat metabolism, and to develop core strength.
Matrix Partners India is an investment firm with Rs 4,500 crores under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Mswipe (mobile POS), Five Star Business Finance (SME lending), Razorpay (payments), OfBusiness (credit led B2B marketplace), CreditVidya (Fin-tech SaaS) and ZipLoan (small business lending) among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India with $4 billion under management.