TABP Snacks and Beverages, a Coimbatore-based beverage and snacks startup has raised INR 20 crore pre-Series A funding led by LC Nueva AIF along with Arun Mukherjee and angel investors.
Some of the notable angels who have invested in this round include Koushik Chatterjee, CFO of Tata Steel, and Aniruddha Sarkar, Chief investment officer of Quest Investment Advisors among others.
With the funds raised in this round, TABP intends to expand into new territories, invest in research and development, and increase its production capacity. This investment will help TABP grow and achieve its goals of reaching a larger customer base and becoming a leading player in the food and beverage industry in India.
TABP Snacks and Beverages is a rapidly growing food and beverage start-up in India and is projected to reach INR 100 crore in Gross Merchandise Value (GMV) in the financial year 2023, which is a remarkable achievement given that the company has only been operating for four years.
TABP targets lower-income consumers in India and primarily sells beverages for INR 10 and snacks for INR 5. The start-up has a presence in several states across India, including Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, and Odisha.
Prabhu Gandhikumar, Founder of TABP, said, “It’s been some really exciting years of growth for TABP. After coming back from the COVID-related slowdown, we have shown tremendous growth. In Q3 of 2022-23, we grew 172 per cent compared to Q3 of the previous year. We feel we have not even scratched the surface and are just getting started. This year we are planning to expand into the east and west geographies of India.”
Ashish Chand, Founding Partner at LC Nueva AIF, said, “TABP is poised to become a leader in India’s beverage and snack space with its strong growth in tier-2 and 3 markets.”