Happilo Fund Raise
Healthy snack maker Happilo raises INR 100 cr from A91 Partners. Venture Garage was the exclusive financial advisor to this transaction.
Happilo, a leading brand in dried fruits and nuts and healthy snacks, has raised INR 100cr from A91 Partners. This investment is in continuation of the growth that D2C (direct-to-consumer) brands, which have carved a niche for themselves in the crowded Indian market, are seeing in the last few years.
Happilo was founded in 2016 by Vikas Nahar. Vikas saw the opportunity to create a trusted brand in a segment and leveraged the online sales opportunity to become a market leader in a short span of time. Selling directly to consumers has helped the company understand consumer preferences and launch new value-added products. The company has been bootstrapped so far and this is the first institutional capital raised by them. With limited capital, the company has scaled to INR 180cr of revenue run rate with profitability. The capital raised will be used to expand the product range and strengthen the brand and offline distribution capabilities.
“The capital raised will be used for capital expenditure, for automation and to expand marketing and distribution capabilities,” said Vikas Nahar, Founder-Director at Happilo. “We are well capitalised for another 12-18 months, post which we might again hit the market for capital raising.”
“Happilo’s progress without any external capital is very impressive. Now they have a unique opportunity to leverage their Omni-channel capabilities to lead a large and important category in India towards getting organised,” said Abhay Pandey of A91 Partners.
“Our 2 and half year journey with Happilo has possibly been our most rewarding journey so far. This brand is all set for an IPO. Keep tracking this brand” – Vivek & Vineet, Partners at Venture Garage
Founded in 2018, A91 Partners is an investment firm investing in high growth businesses being built across the consumer, technology, financial services, and healthcare sectors in India. A91 partners with entrepreneurs building enduring businesses for tomorrow’s India. Current investments include Digit General Insurance, Sugar Cosmetics, Aye Finance, La Renon, Atomberg Technologies, Hector Beverages, Pushp Masala, and Exotel.
About Venture Garage
We work with 1000+ VCs, Angel & Strategic Investors in India and overseas to help them find curated investment opportunities upto INR 100Cr. We also manage a network of 30,000 entrepreneurs, accelerators, incubators & startup ecosystem enablers. We screen about 1200-1500 startups a year and work with 35-40 promising ones to help them scale and raise capital. Some portfolio companies include Flyrobe, Wobot Intelligence, Lendbox, Jadooz, Unlu, Design X, Edugorilla, Intents Mobi and Superpro.ai.