50K Ventures Invests in 2 Startups, Evolve Snacks & Automate.io
50K Ventures, an early stage angel investment network based out of Hyderabad, has made investment in 2 startups - Evolve Snacks & Automate. 50K Ventures which believe in the concept of domain expertise driven startup investments, has its presence in 4 cities and constantly strives to add value to the portfolio companies.
Founded in 2016, Evolve Snacks offers healthy snacking to customers. The startup has over 60+ SKUs across Indian and gourmet flavours. 50K ventures has invested around $150K in Evolve Snacks.
“Growing urban middle class working population and the rise in health conscious behaviour is an opportunity for startups. Evolve Snacks has perfected the supply chain process and passes on the savings in costs to customers. It has potential to take healthy snacking to the masses and also has great taste,” said Sanjay Enishetty, MD & CEO, 50K Ventures.
“50K brings in domain expertise driven investments. I think they have a solid investment thesis surrounding their investment into Evolve Snacks. I look forward to expanding into omni-channel retail and establish partnerships with other food/ fitness focused firms. Investment will help us ramp up production and scale team,” said Angad Sehgal, CEO, Evolve Snacks.
With the core motto of Eat Well, Live Better, Evolve is out to disrupt the snacking industry in India, said to be a 15,000 crore market. With a wide assortment of products, the startup has served 20,000 + customers till date only through online channels. They have set up hub and spoke model for quick dispersion of snacks in Mumbai and are now going to establish presence across other cities. In parallel, they are going to get into retail and are in talks with leading distributors. They are also present in the stores of Jubilant foods.
Automate.io is a SMB SaaS startup which helps companies automate their workflows by integrating other cloud apps across business functions. 50K has invested an undisclosed amount in the startup.
“SaaS is a growing area where Indian companies are making a difference. It is good to see experienced founders take the plunge into entrepreneurship,” added Sanjay Enishetty, MD & CEO, 50K Ventures.
“We are thrilled to partner with 50K in our journey. The investors bring in domain experience in the area we operate in. Their strong presence in the US markets will help us scale quickly,” added Ashok Gudibandla, CEO, Automate.io.
Automate.io has over 350+ customers across the world including global giants like Autodesk and Uber. They are also having plans to on-board clients in the US and European markets and add more integrations to provide customers with the best experience.
