Funding Announcement: Alt Co. raises over US$1 - Biggest amount raised in ALT dairy space in India, says company

Green food major Alt Co. has announced that it has raised US$1 million in funding in a round led by major investors from Singapore, the Middle East and India. "With this injection of funds, the Bengaluru-headquartered sustainable plant-based alternative brand will be seeking to expand and grow its sales and product basket." Alt Co. said in a statement. 

"In the lead-up to the funding round, Alt Co. had expanded its presence into new states, increased the number of retail touch points, and seen a rise in online sales. Now, alongside tying up with companies in the F&B space, the brand is working with the leading R&D minds in an attempt to become the foremost plant-based concern in the Asia Pacific/Middle East/Africa (APMEA) region. And with industry veterans soon to come on board as advisors, Alt Co. is looking to propel itself to the next level—an Indian brand rubbing shoulders with the best in the world in this particular ecosystem," the statement added. 

According to Basan Patil, Co-founder of Alt Co.,“More and more of us are realising every day the importance of sticking to a healthy diet, a diet that takes nature as its inspiration. We at Alt Co. have been going out of our way to ensure that Indians have meal options that are animal-friendly and dairy-free, and have been incredibly heartened by the response to our products. This round of funding is another step towards the brand living up to our Green Aisle Philosophy, and gives people of all ages alternatives that are healthy, sustainable and, above all, delicious."