AgriTech and Foodtech startup SnackExpert have risen an undisclosed amount of Pre-Series A funding from new investors Dipti Ranjan Pattnaik, chairman of Altrade Group, Shobhit Anand Das, Rohit Anand Das and Navnit Krishna and other clutch investors.
The Chennai-based startup was founded in the year 2014 by Arun Murgal, Arun Prakash and Mary Shamla. Snack experts are a team of professionals with their backgrounds in Agriculture and Food processing and Information technology. With the theme of ‘Healthy Snacking Unleashed’, they have ventured to provide nutritious, wholesome and tasty snacking options, right at users doorstep, anywhere in India.
Previously in Febuarary 2015, the startup has raised seed funding of $40K from their previous investors Ajeet Khurana, Taha Nabee, VC Karthic, Ravi Gururaj & Srinivasan have quit the startup. SnackExpert has about 50 employees working at Chennai office. SnackExperts have been approved by Food Safety and Standards Authority of India (FSSAI).
On the investment, Shobhit Anand Das said that “We wanted to invest in a company which has a proven track record in the food and beverage industry. We flew down to Chennai to conduct due diligence. We found that their offline model is more robust and contributes more to their cash flow.”
According to data tracking firm Tracxn, the food-tech sector received barely USD 117.44 million funding from venture capital funds in 2016 as compared to USD 207.25 million in 2015. Apart from the increment of numbers of personal chefs, catering services, box-delivery, pop-up kitchen, on-demand-meals and on-demand-chefs; the total number of 150 food-tech startups have shut down their shutters in 2016.
SnackExpert will utilise their fresh funds in product expansions, improvement of quality, uniformity, packaging and system automation. This will help to fasten the process of reaching more customers. Time will tell how this startup will survive the food-tech startup ecosystem, where news ideas are generated every day. Read more about FoodTech Startup.