Founded in 2020, Beyond Snack makes Kerala banana chips, a popular snacking option in South India
The startup sells via its website, other online channels and has built an offline retail presence in Maharashtra
Beyond Snack has also established its presence in the US, the UAE, Australia, Sweden, Qatar, Nepal, Singapore and Mauritius
Kerala banana chips brand Beyond Snack has secured $3.5 Mn in a funding round led by NABVENTURES Fund. The brand, based out of Alappuzha, Kerala, plans to deploy the incoming funding to expand its distribution network, improve supply chain capabilities and invest in R&D.
Founded by Manas Madhu, with Jyoti Rajguru and Gautam Raghuraman joining as cofounders in 2020, Beyond Snack makes banana chips, a popular snacking option in South India.
Beyond Snack got an initial investment from 100x.VC, some angel investors and angel networks like Faad Network in 2021. The startup also featured on Shark Tank India Season 1, where it secured funding from former BharatPe MD Ashneer Grover and boAt cofounder Aman Gupta.
The startup claims it doesn’t add artificial colours or flavours to its Kerala banana chips. The Beyond Snack banana chips are available in several flavours, including classic salted, peri-peri, salt and black pepper, sour cream onion and parsley. In all, the brand has around 15 SKUs listed on its website. Beyond Snack also sells via other online channels, including Amazon, Flipkart, BigBasket, Blinkit, Swiggy Instamart and Zepto.
While it has expanded its retail presence in Maharashtra recently, the brand has plans to expand to 25 cities in the coming year. Beyond Snack has also established its presence in the US, the UAE, Australia, Sweden, Qatar, Nepal, Singapore and Mauritius.
Manas Madhu, the founder of Beyond Snack, said, “This fresh infusion of funds will allow us to take our brand to new heights and reach a wider audience of snack enthusiasts. With the increasing demand for high-quality snacks, we are well-positioned to transform the snacking industry by offering delicious and guilt-free options.”
Sumeet Seraf, the founder of Equity360, a transaction advisor for the funding, added, “Beyond Snack’s unwavering dedication to excellence, customer satisfaction, and sustainable practices has positioned them as a prominent player in the market. Beyond Snack’s commitment to innovation, coupled with its strong management team, provides a compelling investment opportunity, and we are confident in the brand’s ability to flourish in the ever-evolving consumer landscape.”
The snacking segment is a big market within India’s larger D2C landscape. According to a Research and Markets report, the country’s snack market is expected to reach $23.7 Bn by 2028 at a CAGR of 12%.
Earlier this year, Mondelez India and Huddle initiated a startup engagement programme, the CoLab. A 12-week virtual programme, CoLab will select early stage snacking food startups to provide mentoring and an equity-free grant of $20K.
Recent funding activity in the segment includes TABP Snacks and Beverages securing INR 20 Cr in a funding round and Indian cricketer Shikhar Dhawan investing in TagZ Foods.
