Kerala-based banana chips brand Beyond Snack Thursday announced that it has raised $3.5 million in fresh funding from the NABVENTURES Fund to accelerate its expansion plans.
NABVENTURES is a venture growth equity fund that invests in agriculture, food, rural businesses and agri/rural financial services at the early to mid-stage.
The investment will be used to expand the company’s distribution network, supply chain capabilities and R&D, the startup said in a statement.
Launched in 2020 by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack gained recognition after appearing on Shark Tank India in 2022 and securing investments from industry leaders.
The company claims that its chips are cholesterol-free, trans-fat-free, and GMO-free. The startup has a retail presence in Maharashtra and an online presence nationwide.
“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. Our vision is to place a pack of banana chips next to a pack of potato chips on all the retail shelves of this world,” said Manas Madhu, co-founder of Beyond Snack.
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