Beyond Snack, a banana chips brand has raised $8.3 million in a Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser.
Existing key investor Nabventures also participated in this round, increasing its stake in the company. Japanese VC firm Enrission India Capital and other existing investors, including Faad Network, also joined.
The fresh funds will be used to drive Beyond Snack’s expansion into new territories, foster product innovation, and strengthen its supply chain infrastructure.
Beyond Snack has previously raised $4 million from NAB Ventures, 100X VC, Faad Network, and notable angel investors.
“Banana chips have often been underrated due to lack of innovation and right technology, but in reality, they are one of the most delightful snacks out there. Hence we decided to drive that innovation and bring the latest technology in banana chips. Our banana chips redefine the snacking experience—delicately thin, irresistibly crispy, and bursting with bold, mouthwatering flavors. They’re more than just a snack; they’re a treat for the senses,” said Manas Madhu, Founder of Beyond Snack.
He added, “This new investment empowers us to bring the unique taste of Beyond Snack banana chips to even more snack enthusiasts across the country, elevating their snacking moments to a whole new level. Our presence in 12 countries is just the beginning. The global savory snack industry is experiencing a surge, and we are eager to expand further to capitalize on this growing demand. We believe Beyond Snack’s unique offering has the potential to resonate with consumers worldwide.”
“I have never really liked traditional banana chips. They are normally thick, oily and get stuck in the teeth. But then I tried Beyond Snack, and I was gobsmacked by how delicious, crispy, and uniquely flavoured they were. They have captured my taste buds, and as it turns out, also the taste buds of millions across India,” said Rakesh Kapoor, Founder of 12 Flags Group.
“We are incredibly excited about the opportunity to partner with the Beyond Snack team. Our investment in Beyond Snack is not just about value creation and growth. It’s also about celebrating and promoting one of India’s homegrown brands. We look forward to seeing how this collaboration will drive innovation, sustainability, and bring joy to snack lovers everywhere,” he added.
“We’re excited to deepen our partnership with Beyond Snack. This Follow-on investment underscores NABVENTURES’ confidence in Beyond Snack’s exceptional performance and its innovative approach to the industry. Beyond Snack is currently deepening backend integration and streamlining its supply chain, further enhancing its efficiency and sustainability within the Agri value chain. This strategic move aligns perfectly with NABVENTURES’ vision of driving innovation and fostering a robust and sustainable Agri & Food system,” said Ashish Choudhury, CIO – Nabventures.
“We’re thrilled to support Beyond Snack on their journey and look forward to seeing their crispy creations win over taste buds everywhere!” said Enrission India Capital CEO, Yusuke Kakimoto.
Founded in 2020 by Manas Madhu, Jyoti Rajguru and Gautam Raghuraman, Beyond Snack is a plant-based savory snacks brand that produces its banana chips with no artificial colors or flavors.
Alongside the classic salted flavor, Beyond Snack offers a range of exciting flavors, including Peri Peri, Salt and Black Pepper, Sour Cream & Onion, and Parsley. The brand recently launched a Kerala banana chip variant cooked in coconut oil.
Beyond Snack claims to be the top-selling banana chips brand across leading e-commerce and quick commerce platforms, with a retail footprint of 20,000 outlets.
Beyond Snack its domestic success, Beyond Snack has rapidly expanded its global footprint. Currently available in 12 countries, the brand is exploring new international markets, where it has seen strong demand for its products.
Beyond Snack gained widespread attention after being featured on the highly acclaimed TV show Shark Tank India Season 1. During the show, Ashneer Grover and Aman Gupta invested in the brand. Since then, Beyond Snack has experienced exceptional growth, tripling its reach within six months of the investment.
