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Feb, 26 2015

Sattviko raises Rs 2 crore as seed funding from CommonFloor Co-Founder Sumit Jain

The chain which has over five restaurants in Delhi-NCR presently is also looking at expanding its wing in the region by opening three more restaurants by April.

Sattviko, the healthy food dining restaurant has raised Rs 2 crore as seed funding, in a round led by online real estate portal CommonFloor Co-Founder Sumit Jain, Xerox India MD Rajat Jain and Samsung Executive Sanjay Bhasin.

Sattviko will use the fund raise to enter into the non-food products segment, ramp up its range of live and processed food offerings, as well as focus on its mobile and web-based platforms.

"We are getting into products, for which there is a huge market. Right from food and beverage items, such as nuts, raisins and juices, we will also be offering non-food products such as herbal gulal and apparel," said Prasoon Gupta, Co-Founder and Director, Sattviko.

Launched in February 2014, Sattviko is the second startup for IIT Roorkee alumni Gupta, who co-founded the dining chain with batch mate Ankush Sharma.

The chain which has over five restaurants in Delhi-NCR presently is also looking at expanding its wing in the region by opening three more restaurants by April.

"Delhi NCR region has tremendous potential, and we're looking at establishing ourselves in this region first, before expanding across the country," added Gupta.

"The F&B space in India is something that needs innovation. It's no longer just about the food, and Sattviko has recognised that, which makes it a very attractive investment proposition," said Sumit Jain, Co-Founder, CommonFloor.

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