Kerala banana chips brand Beyond Snack on Thursday announced $3.5 million funding in the Pre-Series A round from NABVENTURES fund to expand the company’s distribution network, supply chain capabilities and research & development. Launched in 2020 and based in Alappuzha, Kerala, the company had appeared on Shark Tank India in 2022 and raised investment from Ashneer Grover, co-founder of Bharat Pe, and Aman Gupta, co-founder and chief marketing officer of boAT. Beyond Snack currently has a retail presence in Maharashtra and a nationwide online presence.
“With the increasing demand for high-quality snacks, we are well-positioned to transform the snacking industry by offering delicious and guilt-free options. Our vision is to place a pack of banana chips next to a pack of potato chips on all the retail shelves of this world. Our mission is to rewrite the narrative about banana chips, offering consumers an authentic, high-quality, and reliable snacking option,” said Manas Madhu, Co-Founder of Beyond Snack in a statement.
The company retails through marketplaces such as Amazon, Flipkart, Big Basket, Blinkit, Swiggy, and Zepto, enabling nationwide accessibility. “The brand has ambitious plans to expand its presence across 10 states and 25 cities in the coming year. Additionally, Beyond Snack has achieved notable progress in global markets, establishing its presence in countries such as the United States, the United Arab Emirates, Australia, Sweden, Qatar, Nepal, Singapore and Mauritius,” it said.
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Sumeet Seraf, Founder of Noida-based Equity360 — the transaction advisor for Beyond Snack said, “Beyond Snack’s unwavering dedication to excellence, customer satisfaction, and sustainable practices has positioned them as a prominent player in the market. Beyond Snack’s commitment to innovation, coupled with its strong management team, provides a compelling investment opportunity, and we are confident in the brand’s ability to flourish in the ever-evolving consumer landscape. We look forward to a successful collaboration and contribution to the continued success of Beyond Snack in the market.”
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The company had earlier raised initial investment from 100X VC and other notable angel investors and angel networks such as Faad Network.
Equity fund NABVENTURES with assets under management (AUM) of Rs 598 crore invests in food, agritech, and rural fintech segments. The fund has invested Rs 258 crore in 12 startups viz. Jai Kisan, Unnati, Satyukt, KBCols, Vilcart, Beyond Snack, TenderCuts, KrishiTantra, TraceX, Eggoz, a stealth startup and FRAAZO (exited). The fund counts National Bank for Agriculture and Rural Development (NABARD), SIDBI FoF, Axis Bank, LIC, SRI Fund, Kotak Bank, Bandhan Bank and other banks as its LPs.