Total amount raised
$17.3 Millions
Latest funding date
1/1/2024
Location
Slurrp Farm has successfully raised $7.2 million in its latest Series C funding round, attracting a diverse group of 15 investors. The company specializes in millet-based packaged food products for children, aiming to provide healthier snack options.
Keep reading to explore the intricacies of Slurrp Farm's fundraising journey and the investors backing this innovative platform.
What Is Slurrp Farm?
Slurrp Farm, founded in 2016, is based in Gurgaon, Haryana, India. The company was established by Meghana Narayan, Shauravi Malik, and Umang Bhattacharyya.
Specializing in millet-based packaged food products for children, Slurrp Farm aims to offer healthier snack options. Their product range includes cereals, noodles, pancakes, snacks, milk mixes, natural sweeteners, and superfoods.
With a team of 101-250 employees, Slurrp Farm continues to grow, driven by a commitment to providing nutritious and tasty food options for kids.
How Much Funding Has Slurrp Farm Raised?
- Seed Round
- Amount Raised: $1M
- Date: June 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Series A
- Amount Raised: $2M
- Date: December 2020
- Lead Investors: Fireside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and increase market presence.
- Grant
- Amount Raised: $100K
- Date: August 2021
- Lead Investors: Propel Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Series B
- Amount Raised: ₹520M (approx. $7M)
- Date: February 2022
- Lead Investors: Investment Corporation of Dubai (ICD)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance brand visibility.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Anushka Sharma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
- Series C
- Amount Raised: ₹599M (approx. $7.2M)
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: $62M
- Motivation Behind the Round: To bolster long-term financial resources and expand market reach.
Total amount raised: $17.3M. Current valuation: $62M.
Key Investors
- Fireside Ventures
- Details: Fireside Ventures is a venture capital firm specializing in early-stage investments in consumer brands. They have a significant presence in the Indian market.
- Investment Focus Areas: Consumer brands, direct-to-consumer (D2C) startups, food and beverage.
- Notable Investments: Slurrp Farm, Mamaearth, Boat.
- Alkemi Growth Capital
- Details: Alkemi Growth Capital is an investment firm focused on early-stage healthcare and consumption-focused investments. They aim to support companies that have a positive impact on society.
- Investment Focus Areas: Healthcare, consumer goods, wellness.
- Notable Investments: Slurrp Farm, HealthKart, MedGenome.
- Raed Ventures
- Details: Raed Ventures is a venture capital firm based in Saudi Arabia, focusing on early-stage investments in the Middle East and North Africa (MENA) region. They support innovative startups with growth potential.
- Investment Focus Areas: Technology, consumer goods, fintech.
- Notable Investments: Slurrp Farm, Nana Direct, Sary.
- Madhurima International
- Details: Madhurima International is the family office of Narotam Sekhsaria, focusing on philanthropic and strategic investments. They aim to support ventures that contribute to societal well-being.
- Investment Focus Areas: Healthcare, education, consumer goods.
- Notable Investments: Slurrp Farm, Ambuja Cement Foundation, Narotam Sekhsaria Foundation.
- Sharrp Ventures
- Details: Sharrp Ventures is the investment vehicle of the Mariwala family, known for their ownership of Marico. They focus on strategic investments in high-growth potential companies.
- Investment Focus Areas: Consumer goods, wellness, food and beverage.
- Notable Investments: Slurrp Farm, Nykaa, Beardo.
What's Next for Slurrp Farm?
Slurrp Farm is poised to capitalize on the growing demand for healthy, millet-based snacks. With plans to expand its retail presence from 2,000 to 40,000 stores, the company aims to reach Rs 500 crore in revenue. Leveraging celebrity endorsements and increasing consumer awareness, the brand is well-positioned for significant market growth.
Future fundraising opportunities are likely, given the company's ambitious goals and strong investor interest. Strategic partnerships and potential acquisitions could further enhance its market reach and product offerings. However, Slurrp Farm will need to navigate intense competition, maintain product quality, and manage supply chain complexities as it scales.
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