Mumbai: Dr. Srinivas Chunduru, (Former senior Advisor at OLA and a former CXO at the Piramal Group), founder of VANS Group has re-invested an undisclosed amount in Mumbai-based healthy snacks maker SnackAmor to support its expansion plans.
With this investment, Dr. Srinivas Chunduru will be inducted into SnackAmor’s Board of Directors.
This is VANS Investments’ second round of investment in SnackAmor after it concluded the first round of the same amount in July last year. Snackamor is one of the top 5 challenger health food and snacking brand in India with a mission to contribute towards a healthier India
“It is our endeavor to invest in interesting scalable start- ups with a passionate founder. This is our second round of funding in SnackAmor. We are confident about its growth story and want to support SnackAmor’s growth plans,” VANS Group Founder Dr. Srinivas Chunduru said.
SnackAmor is raising around USD 1 million in pre-series funding from various investors and plans to utilize the funds for expanding its team, new product launches, and scale distribution –both in retail and digital/e-commerce.
“SnackAmor has received a big endorsement from its existing investors like Dr. Srinivas Chunduru who have infused additional capital in the company to support its growth plan. This capital will support SnackAmor’s expansion plan,” SnackAmor founder Deepak Grover said.
“Dr. Chunduru will play an instrumental role in chartering a robust 5-year strategic planning and tactical execution plan and put in place systems and best practices to achieve the growth plan. SnackAmor is one of the top 5 challenger health food and snacking brands in India and our mission is to contribute to a healthier India,” Grover added.
The other investors in Snackamor include Michael Cooke (VP- Jabil Group), Simmarpal Singh (CEO India- Cofco International), Tarek Sadi- MD at Endeavour Middle East, and Marc Deschamps – Former CEO at Jebsen and Jessen.
VANS Investments, a part of the VANS Group, has so far made investments of over USD 1.5 million in five start-ups in the space of fintech, food tech, mobility, and e-commerce.