This capital will support the Mumbai-based startup in expanding its team, establishing itself as a strong D2C brand, launching new products, and scaling distribution – both in retail and digital/ecommerce, as well as internationally.
Mumbai-based food startup has raised an undisclosed amount of funding in a pre-Series A round from investors like Sanchit Agarwal (MD, Accenture), Sujan Sinha (ex-MD and CEO, Shriram Housing and Finance), Michael Cooke (VP Sustainability, Jabil Group Switzerland), and few other international investors and HNIs.
This investment would be utilised to expand the direct to consumer (D2C) and ecommerce business, expanding the team, international business expansion, and new category and product development.
“We are delighted to welcome on board our new investors and thank our existing investors who have participated in this investment round. We are going through a very exciting phase in our journey as we aim to build a global business of ‘Made in India’ products,” said Founder and CEO Deepak Grover.
“This new round of investment would take us closer to our mission to become a household brand and contribute to a healthier India. Digital is at the core of our growth strategy. We will leverage the power of digital and ecommerce to build a direct to consumer (D2C) brand that would be easily accessible at affordable prices across the country”! Deepak added.
Started in 2017, Snack Amor offers a combination of tasty, healthy, and immunity-building products. The startup has a growing presence in over 500+ stores across Mumbai, Delhi-NCR, Ahmedabad, Baroda, Surat, Chandigarh, Haridwar, Kolkata, Punjab, and Bengaluru, and is now looking to expand to Hyderabad, Chennai, Cochin, Pune, Indore, Jaipur, and Haryana, and other Tier-I and II cities.
Digital and ecommerce is a strong focus area for Snack Amor. It's already present on leading platforms like Amazon, Big Basket, Jio Mart, Qtrove etc and is looking to ramp up its presence.
Snack Amor plans to raise an additional $1 million during this year for establishing itself as a strong D2C brand and also expand internationally.
Lead investor Sanchit Agarwal (MD, Accenture) said,
“Deepak and the Snack Amor team’s vision to change the 4pm snacking culture in India is really encouraging! Given the urban lifestyles and ever increasing focus on good health and eating right, there is an increasing demand for more responsible and authentic brands who are able to juxtapose taste and nutrition. What the team has been able to achieve in a short span is to build a D2C business is commendable.”
Other lead investor, Sujan Sinha (ex MD and CEO, Shriram Housing and Finance), added,
“Snack Amor’s mission to contribute to a healthier India is quite close to my heart. Great quality of products, passionate founder and the team with an established product to market fit and plans to scale the business leveraging digital tech are some of the key drivers that will contribute to business growth and success.”
To read this full article visit - https://yourstory.com/2021/08/funding-alert-food-startup-snack-amor-pre-series-a-round/amp