Artha Venture Fund ties up with IIM Kashipur to lead a pre-seed round in FMCG brand Himshakti

• Himshakti is an FMCG brand offering organic Himalayan products like seasoned salts, spices, and juices.
  
  
• The funding round also saw participation from angel investors like Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch.
  
  
• The funds will be used for marketing and sales and improved packaging of the products.
  
  
• The Uttarakhand-based startup plans to expand in France, Europe and ASEAN countries, aiming for shelf space in 200 premium stores.
  

IIM Kashipur on Thursday said it had partnered with Artha Venture Fund’s Access programme and the partnership’s first investment was in Dehradun-based FMCG brand Himshakti, which has raised ₹17 lakh in its pre-seed round.

The pre-seed funding round also saw participation from angel investors Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch. Himshakti plans to use the funds for marketing, sales, and improving the packaging quality of its products.

Artha Venture Fund, through its Artha Access programme, co-invests with accelerators like India Accelerator, Huddle, and IIM Calcutta Innovation Park.

Founded in November 2019 by Harshit Sehdev, Himshakti products are organic and claim to provide health benefits like improved immunity and digestion. The startup aims to support and empower the local villagers and farmers by providing them with a consistent source of income.

“Himshakti is one of the most promising Uttarakhand-based startups that is doing a phenomenal job at the grass root level to stop rural migration and provide job opportunities to the farmers of Uttarakhand,” said Professor Safal Batra, director, Foundation for Innovation & Entrepreneurship Development, IIM Kashipur said.

The funds will be used for marketing and sales and improved packaging of the products. Himshakti is currently applying for international certifications to launch its operations in Europe and ASEAN. The brand also wants to expand its footprints in France alongside aiming for shelf space in 200 premium stores.

Himshakti products were seeing higher acceptance rates in the last 12 months at premium hotel chains and organic stores, the company claimed.

The Indian fast moving consumer goods (FMCG) industry has grown by 10.9% in the quarter ending June 2022, versus 6% in the previous quarter, according to NielsenIQ’s FMCG Snapshot for Q2 2022.