India, Oct. 8 -- India's food and beverage (F&B) startup ecosystem is burgeoning with new-age brands promising healthier, trendier, and more convenient products, with investors raring to fund. Much of this early-stage capital flowed into direct-to-consumer (D2C) plays, where the money was primarily used to acquire customers, expand retail distribution, or boost marketing spends. In the last two years, however, the funding landscape has evolved. Investors are no longer satisfied with branding stories alone. Their focus is, now, on companies that can build strong product differentiation through innovation, in-house manufacturing, and scientific research and development. Evidently, consumers in India are increasingly health-conscious, demand...