Banana Chips Brand Beyond Snack Raises $3.5 Mn Funding
Beyond Snack, a Kerala-based banana chips brand, has raised $3.5 million in a pre-series A funding round.
The funding round was led by agriculture and food-focused early-stage fund Nabventures, which is backed by the National Bank for Agriculture and Rural Development (NABARD).
As per the startup, the freshly raised funds will be used to expand and enhance its distribution network and supply chain. The funding will also utilized for research and development projects.
Beyond Snack | Banana Chips Brand
Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman in 2020, Beyond Snack is a Kerala-based banana chips brand that has established an offline retail presence in Maharashtra, Bangalore and Hyderabad.
The Kerala-based brand plans to expand its offline presence across 10 states and 25 cities in the coming year.
Speaking about the development, Manas Madhu, Co-Founder of Beyond Snack, said,
“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.”
Following an omni-channel approach, its products are available across the country through platforms such as Amazon and Flipkart. Its products are also available on quick commerce platforms like Zepto, Swiggy Instamart, and Zomato-owned Blinkit.
The brand claims to have achieved notable progress in global markets, establishing its presence in countries such as the United States, Australia, Sweden, Singapore, the United Arab Emirates, Qatar, Nepal, and Mauritius.
Beyond Snack appeared on the reality television show Shark Tank, where it raised angel funding from Aman Gupta (Boat Co-founder) and BharatPe’s Ashneer Grover. According to data from Tracxn, the Kerala-based banana chips brand has raised $4.2 million in total funding. Beyond Snack secured its initial investment from 100X VC and other angel investors and networks.
This funding round was led by Nabventures, which is backed by Axis Bank, Bandhan Bank, Kotak Mahindra Bank, Life Insurance Corporation (LIC), the SIDBI fund of funds and the government-backed Self-Reliant India Fund.
Prior to the investment in Beyond Snack, Nabventures had fused Rs 258 crore in 12 startups. Nabventures has Rs 598 crore in assets under management and includes TraceX, TenderCuts, Unnati, Jai Kisan, and Eggoz in its investment portfolio.
Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.