Kerala-based banana chips maker Beyond Snack gets $8.3 million in Series A round
Beyond Snack plans to use the funding to drive its expansion into new territories, foster product innovation, and strengthen its supply chain infrastructure, the company said in the statement.
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Beyond Snack, a banana chips brand, has secured $8.3 million in a Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser, according to a company's statement today, January 9.
In the fresh round, existing key investor NAB Ventures, Japanese VC firm Enrission India Capital and other existing investors including Faad Network, also participated.
Beyond Snack plans to use the funding to drive its expansion into new territories, foster product innovation, and strengthen its supply chain infrastructure, the company said in the statement.
"We are incredibly excited about the opportunity to partner with the Beyond Snack team. Our investment in Beyond Snack is not just about value creation and growth. It’s also about celebrating and promoting one of India's homegrown brands. We look forward to seeing how this collaboration will drive innovation, sustainability, and bring joy to snack lovers everywhere," said Rakesh Kapoor, Founder of 12 Flags Group.
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Beyond Snack aims to give banana chips a global makeover and make the brand a household name. The company's banana chips are cholesterol-free, trans fat-free and GMO free with no artificial colours or flavours. Along with the new flavours, they also come in peri peri, salt and black pepper, sour cream onion and parsley flavours and the traditional salted flavour.
"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 of Beyond Snack.
Earlier, Beyond Snack raised $4 million from NAB Ventures, 100X VC, Faad Network, and notable angel investors. The company claims to have 20,000 retail outlets. It also sells its products on e-commerce, and quick commerce platforms.
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