GoodMylk, a Bengaluru-based foodtech startup, has raised $1 million in a seed round extension from domestic and international angel investors. 

The funding round saw participation from existing investors Sid Kothari and VegInvest Trust. Investors Aditya Agarwal (AIprime Nutritions Pvt Ltd), Jinisha Sharma, Sustainable Food Ventures, Victoria and Abhishek Shroff, Ice Breakers Technologies Syndicate via Angellist, and Bento Box also participated in the funding round.

As per the startup, the raised funds will be used for expanding the product portfolio and distribution for more accessibility across India.

Founded in 2016 by mother-son duo Veena S and Abhay Rangan, GoodMylk is on a mission to make plant-based food affordable and accessible in India. The foodtech startup makes plant-based milk from cashew and oats, with peanut dahi, vegan mayo, butter and paneer. 

GoodMylk has also launched a chocolate variant of their plant-based milk and nutrition drink.

Speaking on the development, Abhay, Founder and CEO of GoodMylk, said,

“We are excited to welcome on board more mission-aligned backers to help scale India’s role in the massively transformational alternative proteins space. We aim to help increase food security and help everyone access more sustainable and ethical products that are good for all.”

In recent times, there has been an increased acceptance of the plant-based space among consumers. The niche plant-based sector has seen major growth, with brands rolling out multiple new products.

Last year, Epigamia launched a plant-based yogurt made of coconut, while brands including Good Dot, Wakao Foods, Blue Tribe and Better have come up with their innovative products.

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