Open Secret raises its Series B round of funding led by Ananta Capital
- ByStartupStory | June 29, 2022
Open Secret, a D2C firm selling healthy snacks, obtained a Series B investment with the help of Ananta Capital. Along with Gautam Kumra, Chairman-Asia, Mckinsey & Company, previous investors Sixth Sense Ventures and Matrix Partners India also participated in the round.
The business intends to use the newly injected funds to increase product launches, increase capacity, fortify team members, scale-up IT skills, and increase its omnichannel distribution footprint. Open Secret, which was founded by Ahana Gautam and Udit Kejriwal in 2019, has grown 10X in the last year due to significant consumer demand for its widening range of products.
“There has been a fundamental shift in consumer behaviour India has been a market with limited availability, and with the Open Secret platform, we aim to address that,” said Ahana Gautam, CEO and Co-Founder of Open Secret. By de-junking snacks in India, a $15 billion market, we are on the way to becoming a top destination for munching.
The whole lifetime of the snacking sector is being reimagined. Excited to expand our relationship with Sixth Sense and Matrix while working with Ananta Capital on this next stage of growth.
“We are thrilled to collaborate with Open Secret as they work to deconstruct the Indian snacking market. According to our analysis, consumers’ preferences for healthy snacks have significantly increased since COVID-19, and there is now a significant gap in the market. According to Lovkesh Kapoor, Managing Partner of Ananta Capital, “Open Secret has exhibited swift success in many product categories across various distribution funnels.
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