Gurugram-based startup – Slurrp Farm, a health snack maker, has secured $2 million in its Series A financing round from Fireside Ventures.
A statement made by the company said – “The company will deploy the funds raised for product innovation, marketing, and increasing inventory to cater to increasing demand.”
It will also use the fresh funds raised to reinforce its team and strengthen its direct-to-consumer channel.
“We wanted to bring onboard institutional investors who truly understand the need for inflection and real change in the health food market. We have been in touch with Fireside since the very inception of our journey and this is the right time in our journey for us to seek growth capital. They have the DNA, tremendous insight, and proven history to help grow challenger FMCG brands like us.” – said Co-founders, Shauravi Malik and Meghana Narayan.
Speaking on the startup, Kanwaljit Singh, Founder and Managing Partner of Fireside Ventures said – “Slurrp Farm is at the forefront of the healthy grain movement. The desire for healthier, less refined alternatives to wheat has fuelled the rediscovery of ancient grains. Health and wellness have gained an added focus during the pandemic. We are thrilled to invest in an innovative company like Slurrp Farm which is starting this revolution with young children who are always the first agents of change.”
Fireside Ventures is an early-stage investment platform for consumer brands. The venture fund manages a corpus of Rs 3.4 Bn to be invested in consumer brand startups in multiple rounds, from Seed to Series A funding.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.