Select Brands, a startup incubated at the JITO Incubation and Innovation Foundation (JIIF), has raised Rs 6.5 crore in its Pre-Series A funding round. The investment was led by Agra Gwalior Pathways and Airen Holdings, with participation from several other prominent investors, including We Founder Circle, Prataap Snacks, Apricot Foods, Workie, and IVY League Ventures.
Founded by brothers Agam Choudhary and Saksham Jain in 2022, Select Brands began its journey with the launch of Kyari in April 2022. Kyari is a direct-to-consumer (D2C) brand offering home-grown plants. With its diverse range of plant varieties catering to different needs and spaces, Kyari quickly gained popularity among plant enthusiasts.
The funding secured by Select Brands will be utilized to expand its current operations, explore new territories, and broaden its reach through category expansion, the company announced in a press release. Agam Choudhary stated, “We are entering multiple categories by launching new brands and focusing on the growth of existing ones. Approximately 70% of the capital will be invested in existing sub-brand growth, which is Kyari, while around 30% will be allocated to new sub-brands.”
Kyari, the flagship brand of Select Brands, reported sales of Rs 4 crore in its first fiscal year (FY23) and currently records monthly sales of approximately Rs 1.5 crore. This impressive performance reflects the brand’s strong position in the market and its potential for further growth.
The JITO Incubation Centre provides a structured program offering essential resources for startups, including mentorship, a global network, technology, peripheral services such as legal and financial assistance, and business connections, all under one roof. Select Brands’ success and the significant funding it has received underscore the effectiveness of such incubation programs in nurturing and supporting promising startups on their journey to success.
