Mumbai-based snack brand Phab has just raised $2 million in seed funding, with OTP Ventures leading the round. The investment also saw backing from Capri Global, law firm Sim&San, and a handful of angel investors.
Phab plans to channel the new funds into building a stronger team, boosting its manufacturing setup, and widening its footprint across online marketplaces and brick-and-mortar stores.
Launched in 2018 by husband-and-wife duo Ankit and Gayatri Chona, Phab has steadily made a name for itself in India’s booming healthy snacks market. Ankit brings deep experience from the food and beverage world, while Gayatri, a certified nutritionist, crafts products that don’t just promise high protein content but also pack serious flavour.
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“We’ve always wanted people to enjoy healthier snacks without feeling like they’re giving something up,” said Gayatri. “This investment will help us stay true to that mission—growing in a way that’s thoughtful, inventive, and focused on what people actually crave.”
Phab’s lineup includes protein bars, milkshakes, and other protein-rich treats, available on platforms like Amazon, Flipkart, Zepto, and Blinkit. So far, the brand says it has sold over two million units. While its operating revenue dropped by 12% to ₹5 crore in FY24, the company trimmed its net loss slightly to ₹6.8 crore, according to filings sourced via Tofler.
But Phab isn’t just chasing sales numbers. Tackling India’s widespread protein deficiency is also on its agenda. The startup has partnered with schools and NGOs to make affordable, protein-packed nutrition available to underserved communities.
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Looking ahead, Phab plans to roll out new product lines, expand its reach across India through multiple channels, and continue investing in its team and production capabilities to keep pace with shifting consumer habits.
