Beyond Snack, a Kerala-based banana chips brand, has raised $8.3 million (approx ₹70 crore) in a Series A funding round. The round was led by 12 Flags Group, a consumer business-focused fund founded by Rakesh Kapoor, former global CEO of Reckitt Benckiser. Existing investor NAB Ventures also increased its stake in the company. Other contributors included Japanese VC firm Enrission India Capital and existing backers like Faad Network.
The company plans to use the fresh capital to expand into new markets, explore product innovations, and strengthen its supply chain. Manas Madhu, the founder of Beyond Snack, said, "There is tremendous potential for innovation in the banana chips segment. Advancements in technology can truly transform this traditional snack."
In previous funding rounds, Beyond Snack raised $4 million from NAB Ventures, 100X VC, Faad Network, and several angel investors. The brand gained significant public attention in 2020 when it appeared on the TV show Shark Tank India’s inaugural season. During the show, Ashneer Grover and Aman Gupta invested in the brand.
Beyond Snack’s journey has also earned recognition within the industry. The brand won the Dhanam Retail Startup of the Year award in 2023.
Mr Kapoor, the founder of 12 Flags Group, shared his perspective on Beyond Snack’s offerings. He contrasted them with traditional banana chips, describing the latter as thick and oily. He noted the brand’s focus on crispiness and unique flavours as key differentiators.
