Protein snack brand Phab has raised $4 million in pre-Series A funding round co-led by OTP Ventures and Chona Family Office.
Prior to this, the Mumbai-based startup had secured $2 million in a seed funding round led by OTP Ventures along with participation from Capri Global, Sim&San law firm, and other angel investors in April last year.
The fresh funds will be utilized for brand building, geographic expansion, and strengthening the team, Phab said in a press release.
Launched in 2022 by Gayatri Chona, Phab focuses on the intersection of food science and taste, producing high-protein, calorie-efficient snacks like protein milkshakes, energy bars, and protein-powered snacks.
Phab claims to have established a 50% offline presence in modern trade and general trade. In terms of rapid commerce, the brand has a growing dark store presence in tier II and III cities, and its market share is continuously rising across all platforms.
It faces competition from other leading brands in this market, including Yoga Bar, Super You, Max, and Whole Truth.
