The Good Bug Secures $3.5 Million from Fireside Ventures and Sharrp

OVERVIEW The startup has already raised INR 20 Cr of the INR 30 Cr. It is anticipated that the final sum will arrive shortly. The new funding will probably be used by The Good Bug to increase the range of products it offers. The Good Bug is a direct-to-consumer company that was established in 2022 by Keshav Biyani and Prabhu Karthikeyan that sells a variety of intestinal health and wellness goods.In its Series A extension round, Mumbai-based direct-to-consumer firm The Good Bug raised $3.5 million, or roughly INR 30 crore, from Sharrp Ventures, the Marcio Group chairman Harsh Mariwala's family office.

The startup's previous investors, Fireside Ventures and cofounder Keshav Biyani, also participated in the investment round, according to its RoC filing. To raise money, the business gave the three investors 630 Series A1 and Series A2 compulsory convertible preference shares (CCPS). According to the filing, these CCPS will be converted into equity shares at a 1:10 ratio during the upcoming fundraising event. The startup has already raised INR 20 Cr of the INR 30 Cr. It is anticipated that the final sum will be received shortly. A letter of inquiry to The Good BugThe new funding will probably be used by the firm to increase the range of products it offers. Nearly a year has passed since The Good Bug's $3.5 million Series A fundraising round, which was headed by Fireside Ventures, concluded. Future Group founder Kishore Biyani's daughters Ashni and Avni's Think9 Consumer Technologies also participated in the round. It is important to remember that Kishore Biyani's nephew is Keshav Biyani. The Good Bug, which was founded in 2022 by Keshav Biyani and Prabhu Karthikeyan, provides a line of gut health and wellness products that assist people with chronic lifestyle problems like constipation, bloating, and weight loss through gut health, among others. Financial year 2022-23 (FY23) sales for the startup were INR 2.79 Cr.