Lo! Foods, a Bengaluru-based functional food startup, has raised $3.5 million in a Series B funding round led by Rainmatter Health—the health-focused initiative by Zerodha—and Singapore-based Capital Code. The round also saw participation from Mount Judy Ventures, Ice.VC, KPB Ventures, and other existing investors.
The company plans to utilise the fresh capital to expand its warehousing capabilities, strengthen backend technology, initiate offline pilots in Bengaluru, and invest heavily in brand-building for its Protein Chef line.
According to the company, Protein Chef has emerged as the fastest-growing vertical and a key revenue driver, contributing substantially to the brand’s near ₹100 crore annual recurring revenue milestone.
Lo! Foods operates four major verticals—Protein Chef (protein-enriched foods), Keto Smart (weight management), DiabeSmart (diabetes support), and GlutenSmart (gluten-free products). Its reach has been rapidly boosted by the surge in demand on quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart, which now account for nearly 65% of total sales.
The company is also gearing up to launch new product lines and will rebrand DiabeSmart to Sugar Smart in an effort to improve market clarity and consumer appeal.
