Slurrp Farm has secured $2 million in its Series A funding round from Fireside Ventures, a multi-stage venture fund.
The health snack maker landed $1 million in a pre-Series A round in June 2018. This funding was raised from investors including Sanjeev Bikhchandani of Info Edge, Ashish Dhawan of Central Square Foundation, and Aditya Ghosh, Board Member of Fabindia and OYO.
Slurrp Farm said in a statement, “The company will deploy the funds raised for product innovation, marketing, and increasing inventory to cater to increasing demand. It will also look to strengthen its team and fortify its direct-to-consumer channel.”
Incorporated in 2016, Slurrp Farm’s annual recurring revenue (ARR) increased 300 percent during the last six months.
“We are looking to grow at the same rate to an ARR of $5-$6 million in the next 12 months,” the statement stated.
Slurrp Farm offers 25 products including porridges and cereals, puffed snacks for children, millet pancakes, millet dosa, and cake mixes. These products are now available in over 600 retail stores and online grocery shopping portals across India, UAE, and Singapore.
Slurrp Farm added, “Our plan is to open new cities within India and expanding geographical footprint in the UAE.”
Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures, said, “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.”