TABP Snacks and Beverages, which leads food brand Tanvi Foods, raised INR 20 crore in Pre-Series A led by LC Nueva AIF and angel investor Arun Mukherjee where angel investors including Koushik Chatterjee of Tata Steel, and Aniruddha Sarkar of Quest Investment, among others also participated.
TABP sells a variety of snacks and cold drinks for INR 5 to INR 10. The new capital will be used to expand into new markets, strengthen research and development activities, and increase production capacity. According to a Statista report, the country’s food market is pegged at $963.6 Bn in 2023. The market is expected to grow at a CAGR of 7.23% during 2023-2027.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
