TABP Snacks And Beverages Raises INR 20 Crore In Pre-Series A Funding The fund raised will be used for new territory expansion, R&D and creating more production capacity
By Teena Jose
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TABP Snacks and Beverages, a beverage and snacks startup from Coimbatore, has raised INR 20 crore in its pre-Series A fundraise. The funding was led by venture fund 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. The funds raised will be used for new territory expansion, R&D and creating more production capacity.
"It's been some really exciting years of growth for TABP. After coming back from COVID-related slowdown, we have shown tremendous growth. In Q3 of 2022-23, we grew 172% compared to Q3 of the previous year. We feel we have not even scratched the surface and just getting started. This year we are planning to expand into the east and west geographies of India," said Prabhu Gandhikumar, founder of TABP.
TABP is on target to clock INR 100 crore GMV in FY23, within 4 years of starting operations. TABP predominantly sells beverages priced at INR 10 and snacks at INR 5 targeting the bottom of the pyramid consumers in India. TABP has operations in the states of Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra and Odisha, claimed by the company in a statement.
"TABP is poised to become a leader in India's beverage and snack space with its strong growth in Tier 2 and 3 markets," said Ashish Chand, founding partner, LC Nueva AIF.
