Happy Jars Food brand receives fresh funding Rs3 Cr in a seed funding round led by IPV

• Happy Jars has acquired fresh funding of Rs3 Cr in a seed funding round driven by Inflection Point Ventures.
• According to the IPV, it is the 8th funding of the firm and by the end of the firm will invest in more than 60 startups.
• The fresh funding will be allocated to the expansion plan.

Delhi Based food startup Happy Jars has acquired fresh funding of Rs3 Cr in a seed funding round driven by Inflection Point Ventures. The company is mainly famous for peanut butter as its main product.

It has got large customer base and gets consistent demand for peanut butter from the audience that is helping the firm to face fierce competition.

It was set up in 2018, by Vikram Sekhar and Surabhi Talwar Sekhar, the idea of Happy Jars began with a personal need. The company’s main target audience is health-conscious people and satisfying the need for protein by delivering them protein-rich peanut butter.

According to the IPV (Inflection Point Ventures), it is the 8th funding of the firm for 2021. Before this year's end, they have set a target of injecting funds in more than 60 startups.

According to the latest press statement, with the fresh funding, the company is intending to increase the product portfolio by adding new flavors of peanut butter in the product line and will scale up the company's operations, enter the new market, increase marketing spending for awareness purpose and join hand with distributors located in Tier 1 and 2 cities, mainly focusing on Mumbai and Bangalore as a significant percentage of target audience resides in those cities.

 Speaking on the investment, Vinay Bansal, Founder, and CEO, Inflection Point Ventures said, “As health and immunity take center stage in our lives, customers are making their choices clear. They want rich nutrition and low-in-sugar food options. Happy Jars is meeting these expectations, and the impact of this trend is showing the way forward for brands who are true to their ethos."

The startup claims to expand its presence across the domestic market and has captured a 1 percent market share of the Indian Peanut Market initially it is very good growth and hoping to grow at a faster rate than the current industry growth rate in the coming days.

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