Banana Chips Brand Beyond Snack Raises $8.3 Mn Funding

Kerala-based banana chips brand Beyond Snack has raised $8.3 million in a funding round led by 12 Flags Group, a fund focused on consumer businesses. 

Japanese venture capital firm Enrission India Capital and existing investors like Faad Network and Nab Ventures also participated.

The company plans to use the funds to expand into new markets, drive product innovation, and improve the supply chain infrastructure.

The startup is focusing on growing in India while also exploring new international markets. It currently operates in 12 countries, with key markets including the US, Australia, New Zealand, and Dubai.

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Manas Madhu, founder, Beyond Snack, said, “Last year, we were just starting out with distribution. Now, around 50% of our revenue is coming from retail, which means our distribution has become much stronger than it was a year ago. Moving forward, we will continue to drive our retail growth even further.”

Rakesh Kapoor, founder of 12 Flags Group, said, “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 and sustainability, and bring joy to snack lovers everywhere.”

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

Madhu said the startup works with nearly 200 farmers and plans to build stronger relationships with them while focusing on expansion.

About Beyond Snack

Founded in 2020 by Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack makes banana chips in various flavors. The company claims its chips are made from high-quality ingredients, free from artificial colors and synthetic flavors.

The company appeared on Shark Tank India in 2022 and raised investment from Ashneer Grover, co-founder of Bharat Pe, and Aman Gupta, co-founder and CMO of boAT.

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