TABP, which sells snacks for Rs.5 and drinks for Rs.10, strategies to use their funds for R&D and growth.
Coimbatore-based TABP Snacks and Beverages has received 20 crore in its Pre-Series A funding round.
The venture fund LC Nueva AIF, along with Arun Mukherjee and angel investors, spearheaded the fundraising.
Koushik Chatterjee, CFO of Tata Steel, and Aniruddha Sarkar, Chief Investment Officer of Quest Investment Advisors are among those who have invested in this round.
The cash obtained will be utilised to finance the company’s capacity growth, R&D, and expansion goals.
TABP now operates in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, and Odisha.
The company promises to offer beverages for $10 and snacks at $5 to ‘bottom of the pyramid’ consumers in India.
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