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Peak XV’s Surge leads $3.5 Mn seed round in The Health Factory

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High protein and nutrition bread brand The Health Factory has raised $3.5 million in its seed round led by Surge, Peak XV’s scale-up program for early-stage startups. Kartik Mehta, Ali Tambawala, and Sunil Tulsiani have also participated in the round. Earlier in August 2022, the Mumbai-based brand had raised a Rs 2 crore seed round led by Venture Garage, Vikas Nahar, Happilo, and other marquee angels. The proceeds will be used to ramp up its product development and research and development (R&D) initiatives, enabling the creation of new product segments. Founded by Vinay Maheshwari, the Health Factory is a food and brewery brand that produces a portfolio of products including various kinds of protein breads. Apart from its subscription-based distribution, the company uses online ordering platforms such as Swiggy, Amazon, and BigBasket. It also has a presence in a few pockets of Pune and leverages offline retail stores across Mumbai for distribution.