Timios, a Bengaluru-based online platform intended to offer age-appropriate nutritional products, announced that it has raised capital as part of its pre-Series A round of funding, according to a VCCircle report. Financial details of the funding remain undisclosed.
The pre-Series A funding round was led by Rangsons Technologies LLP, which is part of the Mysore-based NR Group. Other investors that took part in the round include Paipal Ventures LLP, Timios said in a statement.
The company will use the funds for expansion, increasing its product development efforts, strengthening its existing distribution network and enhancing its technological infrastructure.
“A lot of millennial parents today are extremely conscious about what their children consume as part of their healthy diet. This increasing awareness and shift towards healthy, natural and organic food choices for children have been the key reasons behind the success of our products,” Aswani Chaitanya, co-founder at Timios, said.
Separately, Rangsons Technologies CEO Pavan G Ranga said the NR Group company was confident of its bet on Timios because of its management team and the potential of the untapped child health market.
Founded in 2016 by Aswani Chaitanya and Hima Bindu, Timios says it focusses on creating age-appropriate products for children. These include categories such as cereal-type snacks, energy bars and probiotic bites.
Its products are developed for children between six months and 12 years of age. Apart from its website, its products are also sold on channels operated by FirstCry, BigBasket, Amazon and Flipkart.
Earlier in 2018, Timios had raised an undisclosed amount from the seed fund of packaged food company MTR Foods Pvt. Ltd.
The company’s platform offers wholesome, guilt-free snacks for children, made from natural ingredients with no artificial colors, flavors, preservatives and low in added salt and sugars, enabling parents to purchase healthy meals and snacks for their children.
