Storia Foods & Beverages raises $6 million in Series A round from Sixth Sense Ventures
The money will be utilised to expand the business, release new products, and build a powerful distribution network across the country
Storia Foods & Beverages Pvt Ltd has raised six million dollars in a Series A round from Sixth Sense Ventures (SSIO-III). The capital received will be utilised to expand the business, release new products, and build a powerful distribution network across the country.
“Sixth Sense and Storia, both, believe in a similar value system of investing in a consumer of tomorrow, today, which makes us a great fit. We, at Storia, feel a great responsibility towards what our consumers eat, and being a brand that has been R&D driven, we’ve been able to remain true to serving products that are delicious, convenient, sustainable to the environment and inspire a healthier lifestyle. With Sixth Sense’s expertise in scaling and creating consumer brands, we couldn’t be more excited to partner with them in this journey of building a nutritionally stronger India and creating an ecosystem of exciting, innovative products that offer functional benefits over high sugar and empty calories,” said Vishal Shah, Founder and Managing Director, Storia Foods & Beverages Pvt. Ltd.
“The Storia story is one that we, the Sixth Sense team, believe is in line with the evolution of the Indian consumer. Even though beverages as a category is one of the toughest consumer categories to crack, we do believe that the right strategy of distribution (offline focused) and a well-rounded product portfolio (targeting niche segments and expanding into related categories), can be a strong combination to crack the space. The secular trend towards habits that promote a healthy wellbeing, and a packaged beverage industry that is dominated by high-sugar and carbonated drinks, lay the perfect foundation for a new-age player to cater to the accelerating demand growth for healthier beverages. Storia, with its focus on shakes, is in a sweet spot to create strong brand salience as none of the incumbents (Mother Dairy, Amul, Cavin, etc.) focus on milkshakes as a core category, thus the category has seen limited to no product/brand innovation. We are excited to join Vishal and the rest of the Storia team in their journey,” said Nikhil Vora, Founder and CEO, Sixth Sense Ventures.
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