Kerala-based banana chips brand Beyond Snack has raised $8.3 million in a funding round led by consumer business-focused fund 12 Flags Group a consumer-focused fund founded by former Reckitt Benckiser CEO Rakesh Kapoor. It also saw participation from existing investors including NAB Ventures and Enrission India Capital.
According to the company, the fresh funds will be used for expansion into new territories, product innovation, and strengthening its supply chain infrastructure.
The startup, launched in 2020, aiming to give banana chips a makeover, is the top-selling banana chips brand on e-commerce platforms and has a retail presence in 20,000 outlets across India, according to the company.
“Our investment in Beyond Snack is not just about value creation and growth. It’s also about celebrating and promoting one of India’s homegrown brands. We look forward to seeing how this collaboration will drive innovation, sustainability, and bring joy to snack lovers everywhere,” said Rakesh Kapoor, Founder of 12 Flags Group. It had previously raised $4 million from NAB Ventures, 100X VC, Faad Network, and notable angel investors. “Beyond Snack is currently deepening backend integration and streamlining its supply chain, further enhancing its efficiency and sustainability within the Agri value chain. This strategic move aligns perfectly with NABVENTURES’ vision of driving innovation and fostering a robust and sustainable Agri & Food system,” said Ashish Choudhury, CIO, NAB Ventures. Present in 12 countries, the brand aims to dive deeper into the international market and explore new markets, where it has seen strong demand for its products, the company added.
