Snacking brand Beyond Snack has raised $8.3 million in Series A funding, led by 12 Flags Group, a consumer-focused fund founded by former Reckitt Benckiser CEO Rakesh Kapoor. Other participants include existing investor NAB Ventures, Japanese VC firm Enrission India Capital, and Faad Network.
Valuation and Expansion Plans
The Kerala-based company, now valued at ₹300 crore, plans to expand its reach significantly. Founder Manas Madhu revealed that Beyond Snack aims to double its offline distribution to 40,000 outlets and enter more cities, particularly in southern India, by fiscal 2026.
Growth and Past Investments
Having already raised $4 million from investors like NAB Ventures, 100X VC, and Faad Network, Beyond Snack is currently available in 20,000 outlets, with half of its sales coming from offline channels. The brand gained visibility through Shark Tank India Season 1, where it secured funding from Ashneer Grover and Aman Gupta.
Market Insights
India’s savoury snacks industry has grown from ₹500 billion in FY15 to ₹751 billion in FY22, with ₹423 billion attributed to organized and branded products. Major players include Haldiram, Pepsico (Lay’s), ITC (Bingo), and Bikaji Foods. Beyond Snack differentiates itself by focusing on banana chips, which founder Madhu believes have been underrated due to a lack of innovation and technology.
Regional and Global Presence
Currently operating in 18 cities across west and north India, Beyond Snack plans to deepen its presence in these markets while expanding to Karnataka and Tamil Nadu. The brand is also present in 12 international markets, capitalizing on the growing global demand for savoury snacks.
Investor Support and Future Vision
12 Flags Group, which launched a $100 million India-focused fund in 2023, sees its investment in Beyond Snack as a celebration of homegrown brands. Beyond Snack is also enhancing its supply chain to boost efficiency and sustainability in the agri-value chain, said Ashish Choudhury, CIO of NAB Ventures.
