By
Snacks brand SnackAmor pulls in funding from former Ola adviser
Photo Credit: 123RF.com

Mumbai-based healthy snacks maker SnackAmor said on Friday it has raised funding from Srinivas Chunduru, a former adviser to cab aggregator Ola.

Chunduru invested via his family office VANS Investments and has joined the startup as an adviser, SnackAmor founder Deepak Grover said in a statement. He didn’t disclose the amount Chunduru invested.

The development comes after SnackAmor, operated by Kriska Genesis Ingredients Pvt. Ltd, in March raised funding from a clutch of local and foreign high-net-worth individual (HNI) investors.

Chunduru, the founder of VANS Group, has previously served as a business head and executive director at Piramal Housing Finance. He is also a director at financial technology startup Crowdera and digital financial services company AF Capital.

VANS Group comprises VANS Investments and VANS Skilling & Advisory. The former focusses on investments in pre-IPO, new-age consumer and fintech companies while the latter operates as a boutique advisory firm that helps companies to scale.

“His [Chunduru’s] contribution to our next level of growth and design and implementation of the best-in-class HR strategy for us would play an immensely important role,” Grover said.

SnackAmor says it is aiming to disrupt the snacking segment with its range of healthy, all-natural and affordable products. It offers 12 products in gourmet and healthy snacks segments. The company is operational Mumbai, Bengaluru, Delhi NCR, Hyderabad, Chennai and Ahmedabad.

The investment marks the growing interest in health-based snack brands. In May, the children-focussed healthy snacks brand Timios raised capital as part of its pre-Series A round. The exercise was led by Rangsons Technologies LLP, which is part of the Mysore-based NR Group.

In December, venture capital firm Matrix Partners and a clutch of affluent individuals including Paytm founder Vijay Shekhar Sharma invested in healthy snacks startup Open Secret.

In November, Matrix Partners and Sauce.vc provided seed funding to protein bar maker And Nothing Else, a company launched by a former Unilever executive.

Leave Your Comment(s)