The Spice Route Legal team, led by Praveen Raju and Renuka Abraham, has advised Famy Steri Private Ltd, on their participation in the Series B funding round of ImmaculateBites (India) Private Limited, the popular food brand, Open Secret. Founded in 2018, Open Secret is one of India’s leading health-focussed food brands.
The company plans to use this investment for the expansion of their brand through which it manufactures and sells protein-based, preservative-free healthy snacks. With this round of fundraise, Open Secret has strategically issued both equity shares and CCPS (compulsorily convertible preference shares). These newly infused funds will enable the company to scale their business, revamp their tech infrastructure, and engage in a massive expansion of their distribution channels.