$3.5 M Pre-Series A funding secured by banana chips manufacturer Beyond Snack
Beyond Snack, a manufacturer of banana chips with a base in Kerala, has raised $3.5 million from NABVENTURES Fund in a pre-Series A round.
According to a press release from Beyond Snack, the money will be used to grow the company’s distribution network, supply chain capabilities, and R&D.
Beyond Snack is a plant-based savory snack company that produces its banana chips without the use of artificial colors or flavors. It was founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman.
Beyond Snack asserts that it has increased its retail presence in Maharashtra and built a presence online on important shopping sites like Amazon, Flipkart, BigBasket, Blinkit, Swiggy, and Zepto, enabling accessibility across the country.
Beyond Snack received its first round of funding from 100X VC as well as other illustrious angel investors and angel networks like Faad Network. Within the next year, the brand intends to increase its geographic reach to 25 cities and 10 states.
NABVENTURES, which has the support of NABARD, makes investments in the food, agritech, and rural fintech industries. Jai Kisan, Unnati, Satyukt, KBCols, Vilcart, Beyond Snack, TenderCuts, KrishiTantra, TraceX, and Eggoz are just a few of the startups in which the fund has invested Rs 258 crore.
