A beverage and snack startup from Coimbatore, TABP Snacks and Beverages, has raised INR 20 crore in its pre-Series A fundraise. Along with Arun Mukherjee and angel investors, venture fund LC Nueva AIF led the funding. Koushik Chatterjee, the CFO of Tata Steel, and Aniruddha Sarkar, the chief investment officer of Quest Investment Advisors, among others, are some of the significant angel investors who invested in this round.
TABP Snacks and Beverages is one of India’s fastest-growing startups in the food and beverage space. Within four years of starting operations, TABP will reach INR 100 crore GMV in FY23. Targeting India’s bottom of the pyramid consumers, TABP primarily sells snacks and beverages at INR 5 and INR 10, respectively. TABP operates in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, and Odisha.
The funds raised will be used for R&D, expanding production capacity, and expanding into new territories.
Commenting on the fundraise, Prabhu Gandhikumar, founder of TABP, said, “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 percent 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 LC Nueva AIF, mentioned, “TABP is poised to become a leader in India’s beverage and snack space with its strong growth in tier-2 and 3 markets.”
