D2C Brand Happilo Raises $13.7 Million From A91 Partners To Expand Growth

• The brand will use the funding to expand its product range and strengthen its offline distribution capabilities.
• Happilo is one of India's leading snacking brands generating an annual revenue run rate of Rs 180 crore.
• The company claims to have more than 40 channel partners across the country.

Bengaluru-based direct-to-consumer (D2C) snacking brand Happilo, on February 1, announced that it has raised Rs 100 crore (or about $13.7 million) from A91 Partners in its first external funding round at an undisclosed valuation.

The company aims to utilize the latest funding to expand its product range, strengthening the brand growth and its offline distribution capabilities.

Founded in 2016 by Vikas D Nahar (former Managing Director of Satvikk Speciality Foods Ltd.), Happilo (Happilo International Pvt. Ltd.) claims to be one of India's leading snacking brands, which primarily deals in dried fruits, nuts, and healthy snacks. The company claims to have an annual revenue run rate of Rs 180 crore (or about $24 million).

Additionally, It also claims to have a presence across all leading modern retail and general stores through a distribution network of more than 40 channel partners.

The company aims to expand its presence in other Asian regions to reach out to more customers and continue developing more amazing products in the coming years.

Commenting on the latest fundraise, Vikas D Nahar, Founder Director of Happilo, said, "We are well-capitalized for another 12-18 months, post which we might again hit the market for capital raising." ET reported.

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Abhay Pandey from A91 Partners said, "Now, Happilo will have a unique opportunity to leverage its omnichannel capabilities to lead a large and important category in India towards getting organized."

According to the reports, About 60% of Happilo sales comes from their online distribution and the rest 40% is from modern and general trade distribution.

The company witnessed almost 3x growth in its business operation during the COVID-19 pandemic, said Vikas D Nahar. While other similar D2C brands also witnessed a similar increase in their business growth.

Happilo currently competes with other similar brands such as Nutty Nuts, DRB Foods, Nuts Original, etc. While Lenskart, Licious, Zivame, Epigamia, Healthkart, Mamaearth, and InCut are the top players in the Indian D2C segment.

Besides Happilo, A91 Partners has also invested in La Renon, Paper Boat, Atomberg, Sugar, etc.

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