Beyond Snack raises $8.3 million in series A round for expansion efforts

Packaged snack manufacturer, Beyond Snack, raised $8.3 million in a Series A funding round led by 12 Flags Group, a consumer-focused fund founded by former Reckitt Benckiser CEO Rakesh Kapoor. It also saw participation from existing investors including NAB Ventures and Enrission India Capital.

 

According to the company, the fresh funds will be used for expansion into new territories, product innovation, and strengthening its supply chain infrastructure.

 

The startup, launched in 2020, aiming to give banana chips a makeover, is the top-selling banana chips brand on e-commerce platforms and has a retail presence in 20,000 outlets across India, according to the company.

 

 

It states that its products are free from artificial colours and flavours, catering to health-conscious consumers with options like Peri Peri and Sour Cream & Onion, alongside traditional salted chips.

 

“Banana chips have often been underrated due to lack of innovation and right technology, but in reality, they are one of the most delightful snacks out there. Hence we decided to drive that innovation and bring the latest technology in banana chips," said Manas Madhu, founder, Beyond Snack.

 

“This new investment empowers us to bring the unique taste of Beyond Snack banana chips to even more snack enthusiasts across the country, elevating their snacking moments to a whole new level,” Madhu said.

 

It had previously raised $4 Million from NAB Ventures, 100X VC, Faad Network, and other angel investors.

 

Beyond Snack gained recognition after its appearance on Shark Tank India, which helped accelerate its growth. With this new funding, the company aims to further its vision of making banana chips a globally recognised snack.

 

“Beyond Snack is currently deepening backend integration and streamlining its supply chain, further enhancing its efficiency and sustainability within the Agri value chain,” said Ashish Choudhury, CIO, NAB Ventures.

 

The brand operates in 12 countries and is evaluating strategic expansion in high-potential markets. “Our presence in 12 countries is just the beginning. The global savory snack industry is experiencing a surge, and we are eager to expand further to capitalise on this growing demand. We believe Beyond Snack’s offering has the potential to resonate with consumers worldwide,” said Madhu.