Nithin Kamath-led Rainmatter pumped in $500,000 to consumer hardware startup Up⤴ (formerly React Labs) as part of its pre-seed funding. The firm with headquarters in Bengaluru was founded by Mahek Mody and Mohit Sharma, and it successfully closed its pre-seed round at a total of $1.3 million.
Up⤴ has received investment from the co-founders of Ather Energy, Unacademy and the Stanford Angels & Entrepreneurs India. The startup's revolutionary technology and vision for Indian household appliances also intrigued Tim Draper, an early investor in Tesla, who took part in the company's pre-seed fundraising round.
Additionally, consumers from the brand’s beta testing programme have also turned into mini-angel investors in Up⤴.
The investment will be employed to execute the go-to-market strategy for the company's first ‘upliance’- delishUp⤴. The appliance, which has been installed in more than 250 modern Bengaluru houses, combines a cutting-edge touch screen with an infinite number of built-in guided recipes with a jar that cooks and warms food while providing controlled chopping, stirring, and other culinary tasks.
Up, which is designed and manufactured in India, makes it simple and affordable for Gen Z and millennials to prepare nutritious meals at home.
The Co-Founder and CEO of Up⤴, Mahek Mody, said,“Everyone knows the best way to manage your health is to eat home cooked food, and with this new funding we are looking forward to taking delishUp to consumers across the country.”
“Most other services available in the market focus on the exercise or ‘calories out’ options, but nearly none of them are offering users the superpower to take control of ‘calories in’. Nithin & the whole Zerodha-Rainmatter family are the flag bearers of health and nutrition in the Indian startup sector. Them discovering and using delishUp⤴ and following that with an investment is a massive vote of confidence,” she added.
According to Nithin Kamath, Co-Founder and CEO of Zerodha, Rainmatter is extremely enthusiastic about assisting individuals in improving their health. “When Mahek and Mohit showed us delishUp⤴ and what they were trying to build, we really liked it. We could instantly see that this could go a long way in helping people eat healthy. We're really excited to join Up in this journey.”
The next wave of smart and connected innovation, according to Siri Srinivas, Principal Investor at Draper Associates, will be designed to elevate the standard of home life.
"The next generation of smart and connected devices for the world will be built in countries like India and by the upcoming generation of hardware startups. Up⤴'s mission aligns with ours — taking long odds on extraordinary outcomes. We are excited to be a part of their growth and look forward to seeing the delishUp in Indian homes soon,” he said.
People with no prior cooking knowledge may now make hassle-free, wholesome meals for themselves owing to delishUp. The recipes on 'upliance' have been created in-house, taking into account widely accessible products, their nutrition, and the macros and calories for every meal.
The linked features provide limitless recipe options in addition to other services like meal planning, grocery buying, and other things. The best superpower for almost all young Indian families is the promise of delicious and nutritious home cooking, as seen by the brand's customers' transformation into little angel investors.
(Edited by : Shoma Bhattacharjee)
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