Healthy snacks company Happilo has raised $25 million from Motilal Oswal Private Equity (MOPE) to build a direct-to-consumer healthy snacks business that includes dry fruits, trail mixes, nut protein bars and muesli, the company said in a statement on Monday. Deloitte was the advisor to Happilo on the transaction.
The firm had earlier raised $12 million from A91 Partners in February 2021.
Established in 2016 by Vikas Nahar, Happilo is a digital first, omni-channel healthy snacking brand. The company claims to have grown its business by four times in the last 24 months.
“Partnering with MOPE will help accelerate our growth plans and significantly scale the business from current levels. Their prior experience of investing and working with category leaders within the food and beverages segment will add significant value. The investment would be used for significant product expansion across healthy snacking categories, acquisition of synergistic food brands, brand building, capacity expansion and deepening the distribution infrastructure. This will help us serve our customers better and help us achieve our ₹2,000 crore revenue target in the next 4 years,” said Vikas Nahar, promoter and CEO of Happilo.
Vishal Tulsyan, managing director and CEO of MOPE added that as the country increasingly moves online, they believe the digital channels will be a strong enabler for consumer businesses to scale at a rapid pace. “Our investment in Happilo marks our entry into the tech enabled consumer franchisees who have the first mover advantage in large unorganized categories,” he added.
Source: Mint