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Snack brand phab raises $2 Mn in seed round led by OTP Ventures

EntrackrEntrackr · 2m ago
Snack brand phab raises $2 Mn in seed round led by OTP Ventures
Medial

phab, a nutritionist-led snacking brand, has raised $2 million in a seed funding round led by OTP Ventures along with participation from Capri Global, Sim&San law firm, and other angel investors. The proceeds will be utilized for growth capital, capex investments, team expansion, and strengthening both its online and offline presence across India, phab said in a press release. Co-founded in 2022 by Gayatri and Ankit Chona, phab offers high-protein and high-flavour snacks that bring together indulgence and real nutrition. The brand focuses on creating healthy and tasty protein supplements and nutrition snacks. According to the Mumbai based company, it offers a variety of products like protein milkshakes, protein powders, and energy bars, aiming to provide convenient and delicious options for consumers looking to boost their protein intake. Phab states that it emphasizes a science-backed approach to food, with nutritionists, scientists, and chefs collaborating to create products that meet nutritional needs. The brand plans to build pan-India presence through a multi-channel strategy across digital, quick commerce, general and modern trade, expand the team and production capabilities, and launch new product categories. Phab claims to have sold over two million bars, bombs and bottles. The brand aspires to bridge the gap of protein deficiency in the country and it ties up with schools and organisations working with marginalised groups to help reach those who need protein the most but have the least access to it.

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Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others

EntrackrEntrackr · 1y ago
Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others
Medial

Premium skincare brand Asaya has raised Rs 12 crore ($ 1.5 million) in Seed funding round led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The funds will be allocated towards melanin-centric research and developing more products that cater to melanin-specific needs, the company said in a press release. Part of the funding will also be utilised to enhance market reach. Launched in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly expanded its sales and customer base, retailing through its website and online retail platforms like Nykaa, Amazon, Flipkart, and Myntra. Currently, it claims to have more than 11 products and 23 SKUs. According to Biyani, this funding will help us go from 20,000 to over 250,000 consumers in the next 12 months. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June. The firm recently led $1 million round in CirclePe.

Beyond Snack raises $8.3 Mn in Series A round

EntrackrEntrackr · 6m ago
Beyond Snack raises $8.3 Mn in Series A round
Medial

Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its 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. Existing investor NAB Ventures also participated in this round, increasing its stake in the company. Japanese VC firm Enrission India Capital and other existing investors, including Faad Network, also joined. Earlier in July 2023, the brand had raised $3.5 million in a pre-Series A round from the NABVENTURES Fund. The proceeds will be used to drive Beyond Snack’s expansion into new territories, add product innovation, and strengthen its supply chain infrastructure. Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack is a plant-based savory snacks brand that produces its banana chips with no artificial colors or flavors. Beyond Snack claims to have expanded its global footprint. Currently available in 12 countries, the brand is exploring new international markets, where it has seen strong demand for its products.

CirclePe raises close to $1 Mn in pre-seed round

EntrackrEntrackr · 1y ago
CirclePe raises close to $1 Mn in pre-seed round
Medial

Fintech startup CirclePe has raised close to $1 million in its pre-seed round led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and others. Led by Navan Jaiswal and Ankur Yadav, CirclePe’s ‘Smart Renting’ solution allows credit-worthy tenants to opt for a zero security-deposit move-in, enjoying the luxury of paying only their monthly rent without any extra charges. By partnering with major proptechs, CirclePe is enabling the smart renting feature for independent retail landlords and co-living operators, providing an easy and hassle-free rental experience. By eliminating the need for heavy security deposits paid by tenants and unlocking capital for landlords and co-living operators, CirclePe aims to disrupt the traditional rental value chain. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June.

Cleevo raises $1 Mn in seed round led by Eternal Capital

EntrackrEntrackr · 1m ago
Cleevo raises $1 Mn in seed round led by Eternal Capital
Medial

Home hygiene startup Cleevo has raised $1 million in its seed funding round led by Eternal Capital. The round also saw participation from Zeca Capital, DeVC, Utsav Somani (iSeed), Suhail Sameer (OTP Ventures), Sumit Jalan, Ajay Kumar (Action Tesa Group), Alok Mittal (Indifi), and members of the Venture Garage Network. The proceeds will be used in R&D, and grow across digital, B2B, and select international channels. Founded by Mayank Jain and Karan Shah, Cleevo develops concentrate-based cleaning products aimed at reducing packaging waste, shipping costs, and emissions. The brand offers non-toxic formulations produced at its in-house R&D and manufacturing facility. Its products are distributed through platforms including Zepto, Amazon, Flipkart, and the company’s D2C website. Jain has positioned Cleevo as a brand focused on low-waste formats and affordability. Cleevo’s floor cleaner concentrate is priced at Rs 350 for 5 litres, compared to Rs 800 for conventional products of similar volume.

Clean Fanatics raises $2 Mn in seed round led by Inflection Point Ventures

EntrackrEntrackr · 6d ago
Clean Fanatics raises $2 Mn in seed round led by Inflection Point Ventures
Medial

Clean Fanatics raises $2 Mn in seed round led by Inflection Point Ventures Clean Fanatics, a premium platform offering home services, has raised Rs 17 crore ($2 million) in a seed funding round led by Inflection Point Ventures (IPV). The round also saw participation from Blume Founders Fund, Let’s Venture (now LVX), Trica, TiE Angels, and several prominent angel investors. The proceeds will be used to expand the team, upgrade the technology infrastructure, and scale new service verticals including civil construction and home renovation. Founded by BJ Arun, Clean Fanatics specializes in services such as deep cleaning, painting, marble polishing, and home renovation. The firm claims that it is currently generating a monthly recurring revenue (MRR) of Rs 2 crore in Bengaluru alone, servicing over 2,500 homes every month. Over the last 24 months, Clean Fanatics has grown its revenue by 8x, backed by strong customer referrals and operational efficiency.

Snack brand Let’s Try raises $2.5 Mn led by SWC Global

EntrackrEntrackr · 3m ago
Snack brand Let’s Try raises $2.5 Mn led by SWC Global
Medial

Snack brand Let’s Try raises $2.5 Mn led by SWC Global Snack brand Let’s Try has raised $2.5 million in its latest funding round led by Singapore-based SWC Global. The existing investors are Wipro Consumer, 100Unicorns, Venture Catalysts, and boAt Lifestyle founder Aman Gupta. Prior to this, the company had secured $1.56 million from its existing investors. The proceeds will be channeled towards expanding distribution across Tier 1, 2, and 3 cities, strengthening its supply chain and backend operations, launching a diverse range of health-forward snacking options, and investing in digital and offline brand-building initiatives, Let’s Try said in a press release. Launched in 2021 by Nitin Kalra, Let’s Try aims to make delicious, high-quality snacks accessible to every Indian household. The brand offers a wide range of premium yet affordable snacks, including namkeens, wafers, cookies, cakes, and sweets, all made with top-quality ingredients. It was also featured on Shark Tank India. According to the Delhi-based company, it plans to introduce several new SKUs in modern trade and regional formats to appeal to a wider consumer base while deepening its presence across e-commerce platforms and D2C channels. As per market research, the snack market is estimated at Rs 50,000 crore, growing annually at 12%. In three years, Let’s Try claims that it has scaled its revenue from Rs 1 crore to Rs 120 crore in ARR and has set a target of crossing Rs 1,000 crore in revenue by 2028.

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