The healthy snack maker has affirmed that its annual recurring revenue (ARR) grew 300% during the last six months as the pandemic had induced people towards healthier eating options.
December 24, 2020
Slurrp Farm has raised USD 2 million from multi-stage venture fund Fireside Ventures, in its Series A funding round.
In June 2018, Slurrp Farm had acquired USD 1 million in a pre-Series A round from investors including Sanjeev Bikhchandani of Info Edge, Ashish Dhawan of Central Square Foundation, and Aditya Ghosh, board member of Fabindia and Oyo.
“The company will deploy the funds raised for product innovation, marketing, and increasing inventory to cater to increasing demand,” Slurrp Farm said in a statement.
Gurgaon-based Slurrp Farm, founded in 2016, said annual recurring revenue (ARR) grew 300% during the last six months. The shift to a healthier lifestyle by the consumers has enabled the healthy snack maker to grow by leaps and bounds in the Indian market.
“We are looking to grow at the same rate to an ARR of USD 5-6 million in the next 12 months,” it said.
Slurrp Farm has a portfolio of 25 products, which include porridges and cereals, puffed snacks for children, millet pancakes, millet dosa, and cake mixes which are now available in more than 600 retail stores and online grocery shopping portals across India, UAE, and Singapore.
The company also emphasized its plan to open in new cities within India and expanding its geographical footprint in the UAE. In addition, it will also look to strengthen its team and fortify its direct-to-consumer channel.
Kanwaljit Singh, Founder, and Managing Partner at Fireside Ventures state that: “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.”
“We wanted to bring onboard institutional investors who truly understand the need for inflection and real change in the health food market,” said Shauravi Malik and Meghana Narayan, co-founders, Slurrp Farm.