Zerodha’s Rainmatter invests in smart appliance company Up⤴
Consumer hardware startup Up⤴ (previously React Labs) has raised $1.3 million in a pre-seed round with participation from Zerodha’s Rainmatter alongside the co-founders of Ather Energy, Unacademy, Stanford Angels & Entrepreneurs India, and early Tesla investor Tim Draper.
Founded by Mahek Mody and Mohit Sharma, the Bengaluru-based startup also saw its consumers from the brand’s beta testing program turn into mini-angel investors. The funds will go towards the go-to-market strategy for its first ‘upliance’, delishUp⤴.
The device, which has been used at 250-plus Bengaluru homes, features a touch screen with unlimited in-built guided recipes, a jar that heats and cooks, and controlled chopping, stirring, and other culinary functions. Up⤴ targets millennials and Gen-Z for its products that are designed and made in India.
Mody, the CEO of Up⤴, said, “Everyone knows the best way to manage your health is to eat home-cooked food, and with this new funding we are looking forward to taking delishUp to consumers across the country. Most other services available in the market focus on the exercise or ‘calories out’ options, but nearly none of them are offering users the superpower to take control of ‘calories in’. Zerodha-Rainmatter family are flag bearers of health and nutrition in the Indian startup sector. Them discovering and using delishUp and following that with an investment is a massive vote of confidence”
Nithin Kamath, Co-founder and CEO, Zerodha, said, “Helping people become healthy is something we’re really passionate about at Rainmatter. When Mahek and Mohit showed us delishUp and what they were trying to build, we really liked it. We could instantly see that this could go a long way in helping people eat healthily. We’re really excited to join Up on this journey.”
Siri Srinivas, Principal Investor, at Draper Associates, said, “The next generation of smart and connected innovation will be designed to elevate the quality of our domestic lives. The next generation of smart and connected devices for the world will be built in countries like India and by the upcoming generation of hardware startups. Up⤴’s mission aligns with ours — taking long odds on extraordinary outcomes. We are excited to be a part of their growth and look forward to seeing the delishUp⤴ in Indian homes soon. “
The recipes entail ingredients that are easily available and mention the calories for all meals. There are added functions like grocery shopping and menu planning.
The startup is part of Qualcomm’s 2022-23 accelerator program through the Qualcomm Design in India Challenge (QDIC). delishUp deliveries begin in December 2022.
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