Wipro Consumer Care – Ventures, the funding arm of Wipro Consumer Care and Lighting, said it has invested in LetsTry, which operates in the packaged snacks category.
In this round, 9Unicorns an existing investor has also participated, the company said without disclosing the investment amount.
Let’s Try operates in the packaged snacks category with a play in baked, fried, and roasted namkeens.
This is the 12th investment of Wipro Consumer Care – Ventures, which was launched five years ago, and focuses on investing in consumer startups in India and Southeast Asia.
Commenting over the development Wipro Consumer Care – Ventures Managing Partner Sumit Keshan said: “Let’s Try is an exciting player in the packaged snacks category. They are a profitable company, well-positioned for growth with a strong digital presence, and a current revenue run rate of Rs 50 crore.
As part of the VC fund, with a fund size of Rs 450 crore, our focus is on companies in various sectors and sub-sectors of personal care, Beauty and Personal care (BPC), home care, wellness, food etc, he said.
“Typically, we invest as a minority investor with stakes ranging from about 5 to 25 per cent in individual investments. We see strong potential in Let’s Try which is among top 5 brands in their category in the digital space,” Keshan added.
Founded in 2021 by Nitin Kalra, LetsTry has in-house manufacturing and is based at Delhi NCR.
PTI
