Gurugram-based Slurrp Farm, a start-up offering healthy snacks and mealtime options for young children, raised $2 million in a Series A round from Fireside Ventures, it said Wednesday.
Fireside is a multi-stage venture fund investing across the early growth stages of the business with a focus on consumer brands. Kanwaljit Singh, founder and managing partner, Fireside Ventures has joined Slurrp as board member.
Slurrp Farm plans to deploy the funds raised for product innovation, marketing, and increasing inventory to cater to the increasing demand. The brand is also looking to strengthen its team and fortify direct-to-consumer channel.
“We wanted to bring onboard institutional investors who truly understand the need for inflection and real change in the health food market. We have been in touch with Fireside since the very inception of our journey and this is the right time in our journey for us to seek growth capital. They have the DNA, tremendous insight, and proven history to help grow challenger FMCG brands like us,” said Shauravi Malik and Meghana Narayan, co-founders, Slurrp Farm.
Malik and Narayan, both friends and mothers, started Slurrp Farm four years back when they could not find high-quality packaged food for their own children.
Over 4 years, the startup has built 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 over 600 retail stores and leading online grocery shopping portals across India, UAE, and Singapore.
The pandemic accelerated growth for the start-up as consumers became more health conscious. Slurrp Farm claims to have registered a 3x growth from February 2020 to date. The brand currently sells around 100,000 units to approximately 40,000 customers a month.
Future plans include opening new cities within India and expanding their geographical footprint in the UAE.
Slurrp is also working on product innovation with their R&D team, nutritionists, and pediatricians, to launch 5 more products in the coming months, taking the existing portfolio to 30.
“Slurrp Farm is at the forefront of the healthy grain movement. 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 are thrilled to invest in an innovative company like Slurrp Farm which is starting this revolution with young children who are always the first agents of change,” said Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures.
Slurrp Farm had raised $1 million in a pre-Series A round in June 2018 from a bunch of investors including Sanjeev Bhikchandani of Info Edge, Ashish Dhawan of Central Square Foundation and Aditya Ghosh, Board Member, FabIndia and Oyo.
