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JoySpoon raises more money in seed round

Entrackr · 1d

Mouth freshener brand JoySpoon has raised Rs 56 lakhs in its ongoing seed round, bringing total funding to Rs 1.81 crore. The latest round was led by Dishit Nathwani, with participation from Prateek Toshniwal, Abhinav Jain, and Ankit Jain, CFOs at CoinDCX, PharmEasy, and others. The fresh funds will be used to expand its manufacturing facility in Ahmedabad, scale its presence across leading quick commerce platforms like Zepto, Swiggy Instamart, and BigBasket in major metros, as well as strengthen its marketplace presence on Amazon and Flipkart, JoySpoon said in a press release. Co-founded in 2023 by Vaishali and Yash Mehta, JoySpoon offers a unique range of low-sugar, supari-free, and all-natural mouth fresheners that cater to the modern consumer's demand for healthier options. The brand’s packaging is also well-suited for gifting hampers, wedding favors, and corporate gifting, with prices for their assorted box starting at just Rs. 145. According to market research, the Indian mouth freshener market was valued at Rs 10,000 crore in 2021 and is estimated to reach Rs 27,491 crore by 2028. The industry is growing at a CAGR of 16%. JoySpoon aims to redefine Indian mouth fresheners, commonly known as mukhwas, with a focus on taste and quality. The company offers modern, well-packaged mukhwas free from artificial colors and flavors. It claims to have launched India’s first functionality-based mukhwas, thoughtfully crafted to address specific concerns like acidity and digestion. JoySpoon aspires to extend beyond offering healthier alternatives and create a brand that empowers women and celebrates both tradition and modernity. The company runs its manufacturing facility in Ahmedabad entirely by women.