Phab Raises $2 Million Seed Funding To Boost Healthy Snacking Despite a 12 per cent dip in operating revenue to INR 5 crore FY24, the company managed to trim its net loss by nearly 3 per cent to INR 6.8 crore
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Nutrition-led snacking brand Phab has secured $2 million in its seed funding round led by OTP Ventures, as reported by Inc42. The round also saw participation from Capri Global, Sim&San law firm, and several angel investors. The fresh capital will be deployed to expand the team, invest in capex, and strengthen Phab's growing presence across online and offline channels.
Founded by Ankit and Gayatri Chona, the husband-wife team known for popular brands like Hocco Ice Cream and Huber & Holly, Phab has carved a niche in India's booming healthy snacking space. Launched in 2018, the brand leverages Ankit's experience in the food industry and Gayatri's background as a certified nutritionist to craft products that are high in protein and bold in flavor.
"We have always believed that healthy snacking should feel joyful, indulgent, and sustainable — not restrictive," said Gayatri Chona. "This funding will help us scale with quality and innovation, building snacks that people actually want to eat."
Currently selling protein bars and healthy milkshakes through platforms like Amazon, Flipkart, Zepto, and Blinkit, Phab claims to have sold over 2 million units to date. Despite a 12 per cent dip in operating revenue to INR 5 crore FY24, the company managed to trim its net loss by nearly 3 per cent to INR 6.8 crore, according to filings accessed via Tofler.
"This investment helps us lay the foundation to go deeper in quick commerce and digital, while also aggressively scaling offline across key markets," added Ankit Chona. "We're excited to have investors like OTP and Capri who believe deeply in our vision and are here to support us for the long run."
The country's food and beverages market, projected to touch $68 billion, has become fertile ground for D2C brands like Phab, Yoga Bar, Beyond Snack, and The Whole Truth, with Indian consumers are seeking out healthier, protein-rich alternatives
Suhail Sameer, founding partner at OTP Venture, highlighted the brand's promise: "We are big believers of the Indian consumer story, and Phab is exactly the kind of brand we love backing. It's bold, it's differentiated. We are thrilled to be a part of this journey."
