Wipro Consumer Care-Ventures Leads Funding in Packaged Snacks Startup LetsTry

Wipro Consumer Care - Ventures, the investment division of Wipro Consumer Care and Lighting, announced on Thursday its investment in LetsTry, a company in the packaged snacks sector. The funding round also saw participation from 9Unicorns, an existing investor. The exact amount of the investment was not disclosed.

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LetsTry specialises in baked, fried, and roasted namkeens. This marks the 12th investment by Wipro Consumer Care - Ventures, which has been active for five years and focuses on consumer startups in India and Southeast Asia.

Focus on Consumer Startups

Sumit Keshan, Managing Partner at Wipro Consumer Care - Ventures, commented on the development: "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."

Founded in 2021 by Nitin Kalra, LetsTry operates from Delhi NCR and has its own manufacturing facilities. The company has previously secured funding from Shark Tank India and 9Unicorns.

Investment Strategy

Keshan elaborated on their investment strategy: "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 added that they typically invest as minority stakeholders 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 noted.

This latest investment underscores Wipro Consumer Care - Ventures' commitment to supporting promising consumer startups. Their portfolio includes diverse sectors such as personal care, wellness, and food.

The backing from Wipro Consumer Care - Ventures is expected to bolster LetsTry's growth trajectory. With a solid digital presence and profitable operations, LetsTry is well-positioned to expand further in the competitive snacks market.