# FUNDINGALERT: Pet Food startup Fabulicious Pvt Ltd (Brand: LUVIN) has recently secured INR24 million in Angel funding from Eminent Angel Investors, including
- MV Nair, Chairman CIBIL & SWIFT, ex-Chairman – Indian Banker’s Association
- Tanvir Ahmed, Business Head, Food Ingredients, Food Specialities Ltd, Dubai
- Possible Ventures, a Gujarat-based family office
- Siddharth Khemka, Head Equity Research at Motilal Oswal
- Uday Shetty, veteran advertisement professional; founder promoter of Cornerstone India
- Mitesh Sorathiya, Managing Director, Evercon
- Goutam Sanyal, Corporate Advisor and veteran banker
- Viral Lodhiya, Managing Director, Sovereign Metals, one of India’s largest gold refining companies
- Bhavesh Savaliya, second-generation entrepreneur into silver merchandising and a serial angel investor
About the Company:
Incorporated in Nov’20 in Mumbai, Fabulicious went live with its first product under ‘LUVIN’ in July’21. Till date, it has launched 12 products in the D2C Pet food space, 3 of which we get manufactured in Europe and the rest are formulated and manufactured in-house, including India’s first Instant Soup powder for dogs.
With this fundraise, Fabulicious plans to expand its innovative portfolio of healthy pet foods and treats, marketing, build on our team strength and step-up our channel presence pan-India for a wider customer reach. Above all, Fabulicious believes that the format of serving nutrition in this industry is about to undergo a significant change and with their background, the team is well positioned to deliver it.
About the Founder:
Fabulicious was founded by a Food Technologist and IIM-Ahmedabad graduate, Ipshit Bhattacharya.
Last year, Ipshit quit his 12-years banking career to chase this aspirational journey. Talking about his venture, Ipshit says, “I started my career as a project engineer setting up manufacturing plants of human foods abroad. So, Food & Nutrition had always been areas of interest. Over the years, my attachment to my pets led me to learn more and more about their needs. Inflection point came when advising a client on cattle feed, I started looking deeper in the pet food industry landscape and realized it is standing at an inflexion point. Demand is increasing, format of serving nutrition needs an overhaul, there is high dependence on imports and product-first disruption-oriented companies are far & few with clear white spaces in the customer value-proposition. Passion morphed into aspiration and a journey thus started. We are elated that our efforts have been thus far recognized well by customers, channel partners & platforms. Few months back, Better India mentioned us amongst top 10 Natural & Healthy brands in the industry.
We are fortunate to secure support from such eminent investors who believe in our vision equally and are willing to walk the miles with us. This will help catapult our efforts to reach our customers and serve them better.”