Slurrp Farm, a snack and meal brand catering to kids, has raised Rs 59.9 crore (roughly $7.2 million) in a new funding round from both new and returning investors. The Gurugram-based startup has raised funds after a hiatus of almost two years.
Investors Exhibit Confidence
Slurrp Farm's parent company, Wholsum Food Private Limited, has approved a special resolution to issue 3,13,691 Series C preference shares to raise Rs 59.9 crore. Existing investors Fireside Venture and Raed Capital contributed Rs 12.4 crore and Rs 5.48 crore, respectively, while new investors Madhurima International and Alkemi Ventures contributed Rs 17.5 crore.
Utilizing the Investment
The company intends to bolster its long-term financial resources with the additional investment amount, per the filing. Following this round, Madhurima International, Sharrp Ventures, and Alkemi Ventures will hold 3.43%, 1.37%, and 3.43% of the company, respectively, with Fireside Ventures holding 20.72% of the company.
Post-Funding Assessment and Distribution of Stakes
TheKredible approximations The startup data intelligence platform Slurrp Farm has raised $7 million in a Series B round led by Investment Corporation of Dubai, valuing the company at Rs 510 crore, or $62 million. Anushka Sharma, a Bollywood actress, became an investor and brand ambassador for the company.
Overview of the Company and Growth Indicators
More than 25 products, such as cake mixes, millet pancakes, and puffed snacks, are available from Slurrp Farm. Revenue rose by two times to Rs 40 crore in FY23, while losses increased by one and a half times to Rs 32.20 crore. In the coming years, the company wants to grow to 40,000 locations and generate Rs 500 crore in sales.
In summary
Investor confidence in Slurrp Farm's vision and products is demonstrated by the company's recent funding success. With a strong expansion strategy and a dedication to producing high-quality snacks for kids, the business appears to be well-positioned for significant success in the years to come.
Image credits: Slurrp.com
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