Snackexperts raises Pre series A funding, existing investors exit company

Chennai: Healthy snacking startup Snackexperts received undisclosed Pre Series A funding from Dipti Ranjan Pattnaik, chairman of Altrade Group, Shobhit Anand Das, Rohit Anand Das and Navnit Krishna, who have invested in their individual capacity.

The existing investors Ajeet Khurana, Taha Nabee, VC Karthic, Ravi Gururaj & Srinivasan have exited the company.

Speaking on the investment, Shobhit Anand Das said that the scalability and team’s commitment towards developing the company propelled them towards investing. “We wanted to invest in a company which has a proven track record in the food and beverage industry. We flew down to Chennai to conduct due diligence. We found that their offline model is more robust and contributes more to their cash flow,” he added.

Snackexperts will utilise the funds to consolidate its position. Already we are cash positive and not burning capital, this will act a war chest for any unforeseen emergencies in future. We will continue to do what we are doing and we are planning to invest heavily to improve quality, uniformity, packaging and system automation, to help our scale. This will fasten our process of reaching more customers.

Source: Times of India