Freemont backs Indian eco-products start-up
Freemont Partners has invested in Natural Mantra, an Indian online start-up that sells eco-conscious products. The size of the transaction was not disclosed.
The funding will be used to expand Natural Mantra's product portfolio, operations, supply chain and hiring.
The website was set up by Nishant Nayak and Tina Datta, who relocated from the US to India and found they didn't have easy access to natural and organic products. Natural Mantra's product range spans personal care, organic food and nutritional supplements, home décor and eco-fashion. All the goods are chemical- free, safe and eco-friendly.
"The market for green products is growing exponentially in India," said Vivek Mohan, founder of Freemont Partners. "People are getting more aware and the potential is phenomenal. With Nishant's experience in e-commerce and the passion that drives the founders, we are confident that together this is going to be a promising business venture in the next few years."
Freemont claims to be India's first global incubator and accelerator, providing seed funding and guidance to entrepreneurs in the tech space. It typically invests up to INR5 million and has partnerships with groups including the Mumbai Angels.
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