Cold Pressed Juice Company ‘MyGreens’ Raises Up to $1M on LetsVenture

MyGreens, a cold pressed juice company, has successfully raised up to $1 million in an angel round on LetsVenture. The round was led by Ajay Relan, a pioneer of equity investing in India. Ajay is the founder chairman of the private equity group CX Partners and was previously the chief executive at Citi Venture Capital International.

The round also saw participation from Sundeep Bhandari, ex- Chairman of the Corporate Advisory Board of Cairn India. A well-respected figure in the oil and gas industry, Sundeep is credited with establishing several successful oil and gas ventures over the last two decades. He is currently the director and CEO of Petrodil.

Several industry veterans with experience in scaling up consumer businesses, global CXOs, Senior Bankers and other experienced investors also participated in the round.

Founded in Sep 2015 by Anurag Mishra and Rohan Gupta, MyGreens has already established itself as the leading cold-pressed juice brand in the Delhi-NCR region, with retail distribution in over 200 stores and a healthy online customer base. The company recently acquired rival JusDivine and is rapidly expanding in Mumbai, the largest cold pressed juice market in India.

"MyGreens is a startup that lies in a very interesting intersection of two megatrends - F&B and Health/Fitness. We started MyGreens about a year and a half back with Cold Pressed Juices, with a vision to provide world class products for the modern Indian consumer. This funding will ignite our move into mass market products with strong links to healthy living as we believe that the real advantage India offers is its large and growing middle class that aspires for a better and healthier life. We want to pioneer the clean label movement in India." said Rohan, cofounder of MyGreens.

MyGreens aims to be the largest cold pressed juice company and lead the "clean label" F&B revolution in India, becoming India's first international FMCG brand focussed on F&B. Driven by innovation and a keen focus on profitability, MyGreens plans to launch complimentary products targeted at the Indian masses. The company will be looking to raise their next round in the next 6-12 months.

"The cold-pressed juice industry continues to see exponential growth and investment activity, thanks to increased consumer awareness around health and fitness. MyGreens leverages this trend and is well positioned to become a global clean label FMCG brand, "said Shanti Mohan, founder and CEO of LetsVenture.

Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are over 13500 startups and over 2300 investors on the platform. LetsVenture works with startups and investors on discovery, syndication and closure. This involves managing due diligence and paperwork closure. LetsVenture has enabled more than 105 startups to raise over $42 million.

Delhi Based Cold-Pressed Juice Brand MyGreens Acquires Rival JusDivine

JusDivine, the second largest player in Mumbai’s hyperactive cold-pressed juice industry has been acquired by Delhi based startup, MyGreens. Through this “first in the Industry” move, MyGreens hopes to penetrate the Mumbai market rapidly. This is an all equity deal where MyGreens will buy JusDivine’s running business including a world-class manufacturing unit, man-power and access to current relations. This move exhibits how Indian entrepreneurs are thinking of out-of-the-box moves to ensure high return to investors and keeping a close eye on not only the top-line but also the bottom-line. The valuation of the merged entity is estimated at about Rs 20 Cr.

Launched 1.5 years back, MyGreens is cold-pressed juice brand in Delhi/NCR. It offers about 20 variants of cold- pressed juices and smoothies through its online channel and an extensive network of F&B and retail partners. MyGreens currently sells about 500-1000 bottles a day. This number will go up to about 5000 bottles a day in 12 months.

Anurag Mishra, co-founder and Director, MyGreens, said, "The genesis of MyGreens is based on a latent demand of Indian consumers for adding healthy alternatives to their daily consumption basket. While we have started with cold-pressed juices, we want to spearhead the "Clean-Label" movement in India - a movement that is gaining pace globally. JusDivine helps us in this endeavour by helping us enter the biggest cold-pressed juice market in the country. We will not rest here - we plan to launch multiple clean label products for the Indian audience later in the year."

Rohan Gupta, co-founder and Director, MyGreens said, "We are very excited about this acquisition as the synergies we share with JusDivine will allow us to add to our bottom line and catapult our top line, ensuring very high return for our investors. Aim is to make MyGreens the biggest clean label brand in the country and subsequently, globally."