Lo! Foods expands into Global markets with a new products range
Lo! Foods, a Bengaluru-based startup that offers a range of low-carb and keto-friendly packaged products, has expanded into international markets with a range of new products. In addition to their current range of attas, namkeens, desserts and cookies, the brand has introduced a whole new range of low-carb and keto-friendly brownies, pancakes and waffles to cater to the tastes and preferences of the international audience. The FMCG startup’s low-carb and keto-friendly products will now be available in North America, UK, and Southeast Asian markets.
Over the past few years, the low-carb and keto product market has become a well-established category in the west. As per the Grandview research report, the global ketogenic diet market is expected to reach US $14.75 billion by 2027, expanding at a CAGR of 5.5% from 2020 to 2027. Growing concerns about the increase in lifestyle diseases and awareness about the importance of diet, health and wellness are some of the reasons behind this growth. Considering the global popularity and ever-increasing demand for keto products, launching Lo! Foods in new geographies was a natural progression for the brand. Their strong product differentiation and unique formulation fills a significant gap in the global low-carb and keto product market.
Commenting on the expansion, Sudarshan Gangrade, founder, Lo! Foods said, “After an overwhelming response for our low-carb and keto-friendly products in India, we are now excited to launch our offerings in the 1 lakh crore international market. Through extensive market research and a deep-rooted understanding of nutrition science, our products have a differentiated positioning that makes us stand out in the global market. We are positive that the international audience will well receive our range of tasty and healthy products.”
According to the company, Lo! Foods products provide less than 5 grams of net carbs per serving, nearly 60% lower than regular products. Within a short period, Lo! Foods has gained tremendous traction and has served over 1 lakh customers since early 2020. In addition to packaged food products, the startup has 20 cloud kitchens across Bangalore, Delhi and Hyderabad that offer fresh low-carb food on demand through food delivery apps. Over the next six months, Lo! Foods plan to enhance their global footprint further and strengthen their operations in India.
Lo! Foods has recently raised US $1 million in pre-series funding led by the Chona Family Office, erstwhile promoters of Havmor Ice Cream. Earlier in 2019, Lo! had raised US $500,000 from a clutch of well-known angel investors, including Anuj Golecha, co-founder of Venture Catalyst, Rashmi Daga, founder of Freshmenu, Raveen Sastry, co-founder of Myntra, and Mitesh Shah, chief financial officer of BookMyShow. PC Musthafa, co-founder and chief executive officer of ID Fresh Food India, Aditya Somani (serial investor), is a part of the advisory team.
Lo! Foods products are available on its website and on eCommerce sites like Amazon, Flipkart and Bigbasket. In addition to their low-carb products and cloud kitchens, Lo! Foods has also tied up with five-star chains like Hyatt and Sheraton to offer a low-carb and keto-friendly menu to customers.