Puro Wellness, a startup by Ruchir Modi, has managed to pump Rs 250 crore from Torrent. Closing its pre-revenue stage, Puro Wellness gets the backing from Torrent an arm of Gujarat-based Corporation, Torrent Group.
According to the information revealed by some sources, Torrent has acquired major stake in Puro Wellness which focuses on developing nutritional supplements that are meal replacements for salt, sugar, spice, rice and other products.
It is a rare case, where an investor invests a large amount in a pre-revenue stage in a startup, revealed one of the sources close to the development. However, an email sent to Torrent failed to elicit any response.
As per the executives cited earlier, the fund is for the venture's five year growth plan, but a large chunk of it will be utilised in the first year of operations. The fund is mainly for a marketing blitzkrieg campaign, R&D and working capital.
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