In a groundbreaking move, Slurrp Farm, the renowned children-focused snacking and meal brand, has clinched an impressive Rs 59.9 crore (approximately $7.2 million) in a recent funding round. The Gurugram-based startup, backed by Bollywood luminary Anushka Sharma, has once again captivated investors’ attention after a two-year hiatus.
The latest infusion of capital saw Wholsum Food Private Limited, the parent company of Slurrp Farm, issuing 3,13,691 Series C preference shares at an issue price of Rs 1,909 each. Existing backers Fireside Venture and Raed Capital reaffirmed their commitment with contributions of Rs 12.4 crore and Rs 5.48 crore, respectively. Stepping into the arena as new supporters, Alkemi Ventures and Madhurima International each injected Rs 17.5 crore. Sharrp Ventures, the investment office of the Harsh Mariwala family, also threw its weight behind Slurrp Farm with a contribution of Rs 7 crore.
The fresh funds are earmarked to fortify Slurrp Farm’s financial foundation, reflecting its strategic vision and confidence in its trajectory. Fireside Ventures will maintain a 20.72% stake post this funding round, with Madhurima International, Sharrp Ventures, and Alkemi Ventures holding 3.43%, 1.37%, and 3.43%, respectively.
Anushka Sharma’s involvement as an investor and brand ambassador, initiated after the successful $7 million Series B round in February 2022, has undoubtedly added star power to Slurrp Farm’s journey. The company, founded in 2016, specializes in crafting a diverse range of millet-based snacks and meals explicitly tailored for young children. Boasting over 25 products, including porridges, cereals, puffed snacks, millet pancakes, and dosa mixes, Slurrp Farm has become a household name synonymous with healthy and delicious options for young palates.
Despite the economic challenges, Slurrp Farm’s parent company reported a stellar 2X growth in revenue, reaching Rs 40 crore in FY23, compared to Rs 19.15 crore in FY22. However, the company’s losses also saw a 1.7X increase to Rs 32.20 crore during the same period.
Looking ahead, Slurrp Farm has set ambitious targets to achieve a monumental Rs 500 crore in revenue over the next few years. The company envisions expanding its footprint from the existing 2,000 to an impressive 40,000 stores, signaling a 20-fold increase in market presence. This audacious goal underscores Slurrp Farm’s commitment to revolutionizing children’s nutrition and solidifies its standing as a pivotal player in the competitive children’s snacking and nutrition sector.
The recent funding success validates Slurrp Farm’s innovative approach and sets the stage for the brand’s continued ascent in the market, promising a delectable and nutritious future for the little ones it serves.
