20th November, 2019. Mumbai: Matrix Partners India announced today that it has invested in And Nothing Else, a 100% clean-label food brand that intends to re-build the world’s trust in its food. The round also saw participation from Sauce.vc (a consumer focused, early stage VC fund) and a clutch of marquis angel investors like Shashwat Sharma (CMO, Airtel), Jaydeep Burman (Founder, Rebel Foods) and Ankush Gera (Founder, Junglee Games).
Founded by ex-Unilever marketeer Shashank Mehta, ‘and nothing else’ (ANE) is on a mission to set packaged food right. ANE makes 100% clean label food products which means that each and every ingredient that goes into an ANE product, is listed on the front of the pack, consumers don’t need to turn the pack around and read a long and tedious list of ingredients, written in extremely small font. ANE doesn’t use any added sugar, artificial sweetener, preservative, or flavoring and coloring agent. The products are made of just a few simple, homely ingredients. And nothing else.
Commenting on the fundraise, Shashank Mehta, Founder, ANE said, “It all started with a simple question for us – What is healthy food? Is it ‘no sugar added’, or ‘low carb’ or ‘high in good fats’? Or is it ‘keto’ or ‘paleo’ or ‘vegan’? Having travelled the world and personally tried every fitness fad out there, we found only one universal truth - Good food is made of good ingredients. And nothing else. ANE, is our attempt at bringing this food philosophy alive. Our attempt at bringing the back of the pack to the front, and bringing the food conversation back to what matters most – ingredients. As we embark on this journey, we’re thrilled to be backed by a great combination of top-tier VC funds, the country’s top marketing professionals and some great founders - all of whom share our food vision.“
Commenting on how they plan to use these funds, Shashank said, “People and Manufacturing. This fundraise allows us to do these two fundamental things right. It allows us to hire a great bunch of people who’re passionate about our mission, and it allows us to build our own manufacturing capability. Most brands nowadays source the same, standard products from a few common third-party manufacturers, and then just label and sell. But at ANE, we’re trying to make something so unique, that we couldn’t trust the making in anyone else’s hands.”
Manu Chandra, founder of Sauce.vc added, "Today, more than ever before, the conversation around food is centered around ingredients. Shashank takes that conversation from being hidden at the back to the very front of the label. ANE is a reflection of his long-standing mission to fight lies pushed by large food brands in the name of health.”
“At Matrix, we are excited about backing the best Consumer brands of tomorrow. ANE fits exactly in that thesis, with the highest quality, clean label product, sharp and edgy branding and direct-to-consumer distribution. This is our fourth investment in the better-for-you F&B space alone and adds to our growing portfolio of new-age consumer brands. We are privileged to partner with Shashank on this journey of building India’s most trusted health food brand.” Said Sanjot Malhi, VP and Consumer sector lead, Matrix India
About ‘And Nothing Else’:
ANE is on a mission to set packaged foods right and to give discerning Indian consumers, healthy snacking options they deserve. ANE makes 100% clean packaged food products, and lists each and every ingredient that goes into making them, upfront. You can try ANE’s first product, a range of 100% clean-label protein bars, at andnothingelse.in.
About the ANE Team:
ANE is founded by ex-Unilever marketeer Shashank Mehta. Shashank has spent 8 years in Unilever across various functions like Sales, Account Management and Marketing. He’s also spent 2 years as Entrepreneur in Residence at Rebel Foods. A fitness enthusiast, Shashank writes about his approach to health at his blog – fitshit.in. He is also a ‘top writer in health and fitness’ at Medium.com. While Shashank manages Marketing and Business Development, Rachna Aggarwal acts as Head of Product at ANE. With over 15 years of bakery experience, Rachna is a chocolatier par excellence, who’s now decided to use her culinary skills to bring tasty, healthy food to discerning Indian consumers.
About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Limeroad (social e-commerce platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Country Delight (direct-to-home, mass premium milk brand), Vogo (scooter sharing), and Razorpay (payments) among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in