Snacks company, Snackible has raised bridge round funding from Mumbai Angels Networks and from other existing investors
“The company plans to use the fund for hiring, brand building and marketing, and to scale up infrastructure to absorb the anticipated growth in the coming quarters,” the statement said.
Speaking on the funding, Aditya Sanghvi, Founder & CEO of Snackible shared, “The health food segment within FMCG has been growing quite rapidly in the last couple of years and with the COVID crisis we have seen a huge consumer behavior shift towards healthier eating habits. We believe Snackible is at the cusp of building a strong health-focused FMCG snack brand.”
“This fundraise will help us invest capital in the right areas to build scale in the coming quarters. Mumbai Angels has been an investor in our business for over 2 years and it is great validation to see them participate in the following rounds as well,” Aditya said.
Commenting on the fundraise, MA Investor Rishabh Dugar remarked “It’s a wonderful thing to see such a positive endeavor to make our lives healthy with bite-sized snacks. The world revolves around munching nibbles not just to eat better but to destress as well. It directly impacts our health. Snackible has taken a significant and prolific challenge: to help us eat better, move better, and live better, one snack at a time.”
Nandini Mansinghka, Co-Promoter, and CEO, “Mumbai Angels Network commented “We have seen an increase in demand from VC funds and the next level strategic players in the companies which are creating an environment where healthier food and beverages options are more affordable, accessible and engaging to young adults. We are delighted to see our portfolio company raising their Pre Series Round A from existing and new investors.”