For-Profit Social Venture Hungry Foal Secures Pre-Series A Funding From GAIL India

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Startup: Hungry Foal

Founded In/Founder(s): The startup was founded in 2016 by Japna Rishi Kaushik and Vivek Kaushik.

Startup Description: Gurugram-based Hungry Foal aims to address the problem of malnutrition in a sustainable and scalable way. The Hungry Foal’s products are available at approx 35%-40% lower cost (25g @INR 5) in its class and category and are currently sold at 200 stores in Delhi/NCR. All the products are developed in technical collaboration with the scientists at SINED-TBI, NDRI, Karnal.

Amount Raised: The startup has secured an undisclosed amount of pre-Series A funding.

Investor(s): The investment was carried out by GAIL (India) Ltd under GAIL’s startup initiative ‘Pankh’.

*GAIL has created a corpus of INR 50 Cr to be invested in startups to support the Government of India (GoI) Start-Up initiative and to generate long-term commercial benefits. GAIL may also infuse further funds in this initiative based on investment requirements or upon the success of this initiative.

Deployment Of Funds: The raised capital will be used for market expansion, technology, and production ramp up.

Previous Funding: In June 2016, the company had raised an undisclosed amount of debt from SBI under the Stand-up India Scheme.

Startups like SmartworkerMilaap, and ImpactGuru are few among other startups that help in solving other social problems in India.



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