Beyond Snack Raises $3.5 Million in Pre-Series A Funding Round Led by NABVENTURES Fund
- ByStartupStory | July 27, 2023
Kerala-based banana chip brand Beyond Snack has successfully raised $3.5 million in a pre-Series A funding round led by NABVENTURES Fund. The company plans to utilize the funds to enhance its distribution network, supply chain capabilities, and research and development efforts, as mentioned in a press release.
Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack is known for its plant-based savory snacks, particularly banana chips, which are free from artificial colors and flavors.
The brand has experienced significant growth, expanding its retail presence in Maharashtra and establishing an online footprint across various major marketplaces like Amazon, Flipkart, BigBasket, Blinkit, Swiggy, and Zepto, thereby providing nationwide accessibility.
In its earlier stages, Beyond Snack received initial investments from 100X VC and notable angel investors and networks, including Faad Network. The brand’s future plans involve expanding its presence across 10 states and 25 cities within the upcoming year.
NABVENTURES, backed by the National Bank for Agriculture and Rural Development (NABARD), focuses on investments in the food, agritech, and rural fintech sectors. So far, the fund has invested Rs 258 crore in 12 startups, including Jai Kisan, Unnati, Satyukt, KBCols, Vilcart, TenderCuts, KrishiTantra, TraceX, and Eggoz, apart from Beyond Snack.
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