Sugar Watchers, a health food brand focused on beating the problem of diabetes, has raised Rs 3.6 crores in a recent funding round led by ah! Ventures Angel Platform and other investors including Chennai Angels, Mumbai Angels, Keiretsu Forum, Chandigarh Angels and Sanjiv Rangrass (ex-ITC board and ex-head of ITC Agro division).
The start-up plans to use the capital to enhance its distribution and marketing to scale up in the Indian market and also ramp up exports in the USA, UAE, Singapore, GCC and Israel markets.
According to a company statement, Sugar Watchers has patent-backed and clinically tested low-GI foods. The range includes staples such as rice and atta, millet range such as instant mixes, noodles, pasta and snacks. It has claimed that low GI foods are clinically proven to reduce HbA1c levels and improve insulin resistance, therefore being great for managing diabetes, PCOS and weight.
Since its inception, VC firm ah! Ventures has done 176 investments in 122 start-ups till date, taking its total investment portfolio to Rs 364 crore with 16 exits and 44 follow-on rounds. In 2023, the firm completed 22 investments through three platforms.
Treman Ahluwalia, co-founder and CEO of Sugar Watchers, claimed “India is the diabetic capital of the world with over 70 million diabetic and 80 million pre-diabetics. Unlike the common laymen's perception, the root cause of this sugar epidemic is not the table sugar that we consume with our tea or in the form of desserts. The main cause of diabetes is the Indian staple diet (which is High in GI) – rice in the South and East and Atta in the North and West. 67 per cent of the Glycemic Load (Blood Sugar, in common parlance) comes from high-carb staples in the Indian diet.
Talking about their decision to invest in Sugar Watchers, Alisha Nanda, Deal Lead - Sugar Watchers and Venture Partner - ah! Ventures said, "Post-pandemic health has taken precedence for all and with the post covid-19 complications people want to change their lifestyle which usually starts with food. Sugar Watchers is building a category of foods for people who are suffering from diabetes or are pre-diabetic. The business is in its early stages but has covered great lengths with marketplaces where the growth looks promising. The brand positions itself in an expanding market with fewer players. It’s the best time to invest before the big players come in the post and the exits are going to be significant in size.