Dehradun-based FMCG company Himshakti has raised Rs 17 lakh in a pre-seed funding round from Artha Venture Fund and IIM Kashipur, according to a press release. The Artha Access initiative and IIM Kashipur have signed an MoU. This is the first deal of the association.
“We believe there is a big untapped market for organic FMCG products available at an affordable cost; Himshakti is tapping into this segment,” commented Gauri Kuchhal, Principal of Artha Venture Fund, adding that the VC firm can help Himshakti scale up faster to have a pan India and a strong international presence.
Angel investors Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch also participated in the funding round.
According to the press release, Himshakti intends to utilize the funds for marketing, sales, and raising the calibre of its product packaging.
The company also plans to expand its presence in other markets like France, the ASEAN region, and other European countries. It plans to increase its market presence and secure shelves in 200 premium stores. The brand is now applying for international certifications to begin operations in Europe and ASEAN countries.
Founded in November 2019, Himshakti sells organic products like seasoned salts, spices, teas, cereals, and juices from the Himalayan region of India. It recently launched new organic products like hemp oil, hemp flour, hemp seeds, nettle tea, and chamomile tea.