Business
Chand Family Office Yukti invests in Tamil Nadu based snacks and beverages firm
Coimbatore/IBNS: Tamil Nadu based TABP Snacks and Beverages recently raised a pre series A round of rupees six crore from the Chand Family Office Yukti.
Yukti has invested in over thirty consumer facing businesses, valuable structuring and advisory services llp, and a mix of angel investors, in the past.
The funding round was led by Probhus Ventures.
TABP is engaged in the manufacture of beverages and snacks which target the bottom of the pyramid market, predominantly the Rs 10 market.
TABP’s Gullp and Plunge in the beverage section and Tanvi in the snacks section are popular in the southern markets.
The company plans to use the funds for territory expansion, investments in salesforce and new product development.
Said Founder and Director Prabhu Gandhikumar, “We have grown three times year on year since inception before COVID-19 hit. In spite of Covid when we lost the first quarter of the year, we will still end up growing more than 35 per cent this year. TABP does all sales on advance payments with no debtors.”
Co-founder and Director Brindha Vijayakumar said, “Today most of our products are in the fun category. We also want to explore some products in the good to have category. Due to COVID-19, the D2C market has expanded a lot. We are launching the Millet Might brand, which will target this segment.”
The company’s distribution channel is spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana and Odisha.
The company said they plan to add Maharashtra and Goa to their network this year.
The company said it operates on an asset light model having third party units manufacture their products.
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