- D2C food startup Slurrp Farm raises $2 million from Fireside Ventures.
- The startup will use the funding for product innovation, marketing, increasing inventory to cater to the growing demand.
- In 2018, It had raised $1 million in a pre-Series A funding round.
Gurgaon-based D2C (direct-to-consumer) food startup Slurrp Farm has raised $2 million (or about 14.7 crores) in a Series A funding round led by Fireside Ventures, an early-stage consumer startup focused venture firm.
The startup will use the fresh funding for product innovation, brand marketing, increasing inventory capacity to cater to the growing demand. It is also looking to strengthen its team and strengthen its direct-to-consumer distribution channel.
Fireside Ventures is a Bengaluru-based early-stage consumer-focused venture capital firm. With this investment, Fireside’s founder and managing partner Kanwaljit Singh will be joining Slurrp Farm as a board member.
In June 2018, Slurrp Farm had raised $1 million in a pre-Series A funding round from Sanjeev Bikhchandani, Ashish Dhawan, Aditya Ghosh. To date, It has raised over $3 million in funding, according to reports.
Founded in 2014 by Shauravi Malik and Meghana Narayanan, Slurrp Farm is a children-focused food brand that sells products like Millet Oat, Immunity Booster, Cereals, Sweeteners, etc.
The brand currently has 600 stores and online grocery shopping portals across India, the UAE, and Singapore.
The startup is planning to open new retail stores in other cities in India and expand its presence in UAE (United Arab Emirates), the startup said.
“We wanted to bring onboard institutional investors who truly understand the need for inflection and real change in the health food market. We have been in touch with Fireside since the very inception of our journey and this is the right time in our journey for us to seek growth capital,” said Shauravi Malik and Meghana Narayan, co-founders, Slurrp Farm.
“The desire for healthier, less refined alternatives to wheat has fuelled the rediscovery of ancient grains. Health and wellness have gained an added focus during the pandemic,” said Kanwaljit Singh, founder and managing partner, Fireside Ventures.
The startup claims to have a 300% increase in annual recurring revenue (ARR) during the last six months. It aims to grow at the same rate to an ARR of $5-6 million in the next 12 months, it said.
Slurrp Farm currently sells around 100,000 units to approximately 40,000 customers a month.