Mumbai-based nutrition-led snacking brand Phab raises $2 million in a seed round

Phab, the Mumbai-based nutrition-led snacking brand, has secured $2 million in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and a group of angel investors. 

The startup will utilise the raised capital to expand its team, invest in production capabilities, and strengthen its presence across both online and offline retail channels.

What does Phab do?

Founded in 2018 by husband-wife duo Ankit and Gayatri Chona, Phab has carved a niche in India's growing healthy snacking market. The brand blends Ankit's experience in the food and beverage industry with Gayatri's expertise as a certified nutritionist to create snacks that are high in protein and bold in flavour.

"We have always believed that healthy snacking should feel joyful, indulgent, and sustainable—not restrictive," said Gayatri Chona, co-founder of Phab. "This funding will help us scale with quality and innovation, building snacks that people actually want to eat."

Phab currently retails protein bars, milkshakes, and other high-protein snacks through platforms like Amazon, Flipkart, Zepto, and Blinkit. To date, the brand claims to have sold over two million units. Despite a 12% dip in operating revenue to Rs 5 crore in FY24, Phab managed to reduce its net loss by nearly 3% to Rs 6.8 crore, according to regulatory filings accessed through Tofler.

Addressing protein deficiency

Beyond commercial growth, Phab also aims to address India's persistent protein deficiency. The startup has tied up with schools and organizations working with marginalized communities to help deliver affordable protein nutrition to those who need it most.

Phab’s roadmap includes launching new product categories, expanding its pan-India footprint through a multi-channel strategy, and strengthening its team and production capabilities to keep pace with evolving consumer preferences.