Kerala-based banana chips maker Beyond Snack has raised $8.3 million in a Series A funding round led by 12 Flags Group, a consumer-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser. The funding round also saw participation from NAB Ventures, Enrission India Capital, Faad Network, and other investors. This latest investment values the four-year-old company at approximately ₹300 crore, according to sources familiar with the deal.
Plant-Based Snack Innovator
Founded by CEO Manas Madhu, Beyond Snack specializes in plant-based savory snacks, known for being free of artificial colors and flavors. The brand first gained national attention during Shark Tank India Season 1, where it secured investments from Ashneer Grover and Aman Gupta. Beyond Snack&rsquo;s modern take on banana chips, a traditional Indian favorite, has helped it carve a niche in the highly competitive savory snack market.
Retail Presence and Growth Plans
Currently, Beyond Snack&rsquo;s products are available in 20,000 retail outlets, with 50% of sales generated through offline channels. The company aims to double its retail presence to 40,000 outlets by the end of fiscal 2026, with a focus on expanding in southern states like Karnataka and Tamil Nadu. The company is already operational in 18 cities across India and exports to 12 international markets, where demand for healthier snacking options has been promising.
Strengthening Supply Chain and Innovation
The new funding will be utilized to strengthen Beyond Snack&rsquo;s supply chain, launch new product lines, and enhance backend integration. The company is focused on tapping into untapped markets, particularly in India&rsquo;s southern regions. Madhu emphasized the need for innovation in the banana chip category, which he believes is underrepresented in the broader snack market.
Expanding the Indian Snack Market
India&rsquo;s savory snack market grew from ₹500 billion in 2015 to ₹751 billion in 2022, as per a 2024 report by Anand Rathi. The organized and branded segment, worth ₹423 billion, is led by established players like Haldiram, PepsiCo (Lay&rsquo;s), ITC (Bingo), Balaji Wafers, and Bikaji Foods International. Beyond Snack aims to differentiate itself by offering branded banana chips as an alternative to the unbranded, loose packs commonly available in the market.
Backing from Investors
This latest round brings Beyond Snack&rsquo;s total funding to nearly ₹192 crore ($25 million), with previous investments from NAB Ventures, 100X.VC, Faad Network, and angel investors. Kapoor&rsquo;s 12 Flags Group, which launched its $100 million India Consumer Fund in 2023, has also backed brands like Blue Tokai Coffee. Kapoor expressed confidence in Beyond Snack&rsquo;s potential to combine growth and value creation while celebrating India&rsquo;s snack heritage.
NAB Ventures, an existing investor, highlighted the company&rsquo;s commitment to sustainable sourcing and its strategic role in the agri-value chain. Ashish Choudhury, Chief Investment Officer at NAB Ventures, praised Beyond Snack for enhancing efficiency while addressing strong consumer demand.
Looking Ahead
With this infusion of capital, Beyond Snack aims to solidify its position as a leader in the banana chip category, both in India and internationally. Madhu believes the company&rsquo;s technology-driven approach and dedication to innovation will help it become a household name, bridging the gap between traditional flavors and modern snacking preferences.
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Source : Indian Startup News

Kerala-based banana chips maker Beyond Snack has raised $8.3 million in a Series A funding round led by 12 Flags Group, a consumer-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser

Beyond Snack Secures $8.3 Million in Series A Funding to Boost Expansion Plans