Beyond Snack raises $3.5 million in funding from NABARD-backed Nabventures

economictimes.indiatimes.com:

Beyond Snack has raised $3.5 million in a funding round led by agriculture and food focussed early stage fund Nabventures to accelerate its expansion. Nabventures is backed by the National Bank for Agriculture and Rural Development (NABARD). In a statement, Beyond Snack said it would utilise the fresh funds to expand and enhance its distribution network, supply chain and fund research and development projects.

With the latest funding, the company has raised a total of $4.2 million, according to data sourced from Tracxn. The company secured its initial investment from 100X VC along with other angel investors and networks. It also appeared on reality television show Shark Tank, where it raised angel funding from Boat cofounder Aman Gupta and BharatPe cofounder Ashneer Grover.

“This fresh infusion of funds will allow us to take our brand to new heights and reach a wider audience of snack enthusiasts,” said Manas Madhu, founder of the plant-based savoury snacks brand, highlighting the company’s intent to tap the growing demand for high-quality snacks. Founded in 2020 by Manas Madhu, Jyoti Rajguru and Gautam Raghuraman, Beyond Snack has established an offline retail presence in Maharashtra and sells its products across the country through platforms such as Amazon and Flipkart, in addition to quick commerce platforms Swiggy Instamart, Zepto and Zomato-owned Blinkit. Beyond Snack plans to expand its offline presence across 10 states and 25 cities in the coming year.

This is the latest investment for Nabventures, which had infused Rs 258 crore in 12 startups prior to the Beyond Snack round. Its investment portfolio includes TenderCuts, Unnati, Jai Kisan, TraceX and Eggoz. Nabventures has Rs 598 crore in assets under management,