PV Sindhu, the Indian badminton player, has invested an unknown amount in Better Nutrition. This brand from Greenday focuses on biofortified staples. Additionally, it provides agri-input services like biofortified seeds, fertilizers, and agronomic practices.
Biofortification enriches crops with micronutrients to produce a premium yield.
Greenday aims to boost the nutritional value of staple crops. This way, consumers can get essential vitamins and minerals through their everyday meals, said Prateek Rastogi, the founder and an IIM-Ahmedabad alumnus.
Founded in 2017, Greenday collaborates with farmers. They educate and incentivize them to grow nutrient-dense crop varieties. These biofortified crops are rich in micronutrients like iron, zinc, pro-vitamin A, calcium, and protein, according to the company.
“With PV Sindhu on board, we strive to raise awareness about the importance of nutrition-dense staples and make them affordable and accessible to everyone across the country, while also improving the livelihoods of our farmers and their families who are an intrinsic part of our supply chain,” Rastogi said.
Sindhu’s investment is part of a Rs 4 crore round, which also includes contributions from other angel investors.
The company plans to raise another Rs 4 crore. “Post that, we will look at raising a venture capital round in the range of $3 million that will let us expand further,” Rastogi said.
In 2022, it raised Rs 3.2 crore from investors led by IIMA Ventures, previously known as CIIE.CO.
The startup runs around 75 agri-input stores and procurement centers nationwide under its Greenday “kisan ki dukan” brand.
Better Nutrition offers a range of products including biofortified wheat, rice, pearl millet, finger millet, and maize. Currently, the company partners with 15,000 farmers and plans to expand its operations.
Better Nutrition’s products are currently sold exclusively online. They are priced about 160% higher than generic alternatives. Over time, the company aims to reduce this premium to 40%, according to Rastogi.
“With our revenue already surpassing Rs 10 crore, we project the nutrition-dense farming and staples market to grow to about Rs 2,000 crore by 2030, and Greenday to be at the forefront of this growth,” Rastogi added.
“I deeply appreciate the dedication and innovation that Prateek and his team have put into Better Nutrition products, the positive impact they have on our health… to educate and support the farmers who are an integral part of this initiative,” PV Sindhu said.
