Sattviko Acquires Packaged Food Brand FYNE Superfoods

Vegetarian food chain Sattviko has acquired Delhi-based packaged products company FYNE Superfood for an undisclosed amount. Part of this acquisition is plans to expand the packaged products offerings, by adding more to their already existing product list. As per the acquisition, the FYNE Superfood products, as well as the brand, will now be merged with Sattviko.

Sattviko was founded in 2013 by IIT Roorkee graduates Prasoon Gupta, Ankush Sharma and Rahul Gupta and it’s a quick-service restaurant that is looking to launch its first fine-dining restaurant in Jaipur. In February last year, the company introduced their delivery service and they received Rs. 70 lakh in angel funding in a second round of investments. What makes Sattviko different from other vegetarian food services is that they offer “sattvik” food, which is made without onion and garlic. They have continental, Indian and Mexican meals, salads, munchies, desserts and beverages. On their website, you can also purchase Yoga and Ayurvedic products.

FYNE Superfood, on the other hand, makes food products that are completely chemical free, natural and nutritious. According to their website, they use superfoods like Chia Seeds, Flax Seeds, Quinoa, etc – which contain lots of protein, fibre and other micronutrients – and combine it into innovative food products that add protein and fibre back into the Indian diet. They have everything from dips to breakfasts to sweets on their menu.

“We are scaling up Sattviko’s packaged products aggressively. This acquisition is aligned with adding some great products in our portfolio. FYNE’s products will resonate with our product strategy,” said Prasoon Gupta, cofounder of Sattviko.

While the acquisition amount is undisclosed, Gupta said Darpan Majumdar, one of the co-founders of FYNE Superfood, will join the company and lead the property transfer for the next few months.

Packaged food has seen several deals in the last few months alone. Yumlane raised nearly Rs. 6.6 crore in a seed round of funding led by Flipkart co-founder and CEO Binny Bansal.