[Funding Alert] TABP Snacks and Beverages Bags Rs 20 cr in Pre-Series A Funding
[Funding Alert] TABP Snacks and Beverages Bags Rs 20 cr in Pre-Series A Funding

TABP Snacks and Beverages, a beverage and snacks startup based in Coimbatore, has raised Rs 20 crore in its pre-Series A Fundraise. The funding was led by venture fund LC Nueva AIF, along with Arun Mukherjee and angel investors. Some of the notable angels who have invested in this round include Koushik Chatterjee, CFO of Tata Steel, and Aniruddha Sarkar, Chief Investment officer of Quest Investment Advisors, among others. 

TABP Snacks and Beverages is one of the fastest-growing startups in the food and beverage space in India. TABP is on target to clock Rs 100 crore GMV in FY23, within 4 years of starting operations. The brand predominantly sells beverages priced at Rs 10 and snacks at Rs 5 targeting the bottom of the pyramid consumers in India. TABP has operations in the states of Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, and Odisha.

The funds raised will be used for new territory expansion, R&D, and creating more production capacity.

Prabhu Gandhikumar Founder, TABP said, “It's been some exciting years of growth for TABP. After coming back from the COVID-related slowdown, we have shown tremendous growth. In Q3 of 2022-23, we grew 172 percent as compared to Q3 of the previous year. We feel that 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 ll and lll markets.

Arun Mukherjee mentioned, “We are proud of what Prabhu and his team have accomplished in such a short period. The way TABP handled the pandemic for the consecutive years, and still grew handsomely, showcases the robust foundation of the company. With tailwinds on the TABP side now, the company is set to pen a rich scripture of its own.

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