Indian badminton star PV Sindhu has invested an undisclosed sum in Better Nutrition, a brand by Greenday specializing in biofortified staples. Better Nutrition offers agri-input services like biofortified seeds, fertilizers, and agronomic practices.
Biofortification is a method used to enhance crops with essential micronutrients, resulting in a higher-quality yield.
Greenday aims to boost the nutritional value of staple crops, enabling consumers to obtain essential vitamins and minerals through their daily meals, said founder Prateek Rastogi, an alumnus of IIM-Ahmedabad.
Founded in 2017, Greenday collaborates with farmers, providing education and incentives to grow nutrient-rich crop varieties. According to the company, these biofortified crops are enhanced with micronutrients like iron, zinc, pro-vitamin A, calcium, and protein.
“With Sindhu on board, we hope to raise awareness about the importance of nutrient-dense staples while making them more affordable and accessible to people across the country. Additionally, we seek to improve the livelihoods of our farmers and their families, who are an integral part of our supply chain,” Rastogi said.
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Sindhu’s investment is part of a INR 4 crore funding round that also includes contributions from other angel investors.
The company plans to raise an additional INR 4 crore. “After that, we will seek a venture capital round of approximately $3 million to support further expansion,” Rastogi said.
In 2022, the company raised INR 3.2 crore from investors led by IIMA Ventures, formerly known as CIIE.CO.
The startup runs around 75 agri-input stores and procurement centers nationwide under its Greenday ‘Kisan Ki Dukan’ brand.
The product range of Better Nutrition encompasses biofortified varieties of wheat, rice, pearl millet, finger millet, and maize. Presently, the company collaborates with 15,000 farmers and intends to expand its operations.
Product Range and Expansion Goals
Better Nutrition’s products, presently available exclusively online, are priced at a premium of approximately 160% compared to generic alternatives in the market. Over time, the company aims to reduce this premium to 40%, Rastogi mentioned.
“Having already exceeded INR 10 crore in revenue, we anticipate the nutrition-dense farming and staples market to reach approximately INR 2,000 crore by 2030, with Greenday leading the charge,” Rastogi added.
“I truly admire the dedication and innovation displayed by Prateek and his team in developing Better Nutrition products and the beneficial impact they have on our health. It’s commendable how they educate and support the farmers who play a crucial role in this initiative,” Sindhu expressed.
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