Snacking Brand Let’s Try Bags $2.5 Mn From SWC Global, Others

Delhi NCR-based snacking brand Let’s Try has secured $2.5 Mn (around INR 21.64 Cr) in a Pre-Series A funding round led by SWC Global.

The round also saw participation from existing investors, including Wipro Consumer, 100Unicorns, Venture Catalysts and boAt cofounder Aman Gupta.

The startup plans to use the fresh capital to expand its distribution across Tier I, II and III cities, while also strengthening its supply chain and backend operations.

Apart from this, some proceeds would be deployed for launching new product varieties and building online and offline brand initiatives.

Founded by Nitin Kalra in 2021, Let’s Try offers a variety of healthy snacking products, including namkeens, mixtures, chips, roasted channa and cookies, selling primarily through its digital platform. The company uses in-house manufacturing to ensure quality and innovation.

The brand is planning to launch several new SKUs in modern trade and regional formats to appeal to a wider consumer base while deepening its presence across e-commerce platforms and D2C channels.

Earlier, it raised an undisclosed sum from Wipro Consumer Care – Ventures in exchange for a minority stake, in July last year.

Let’s Try claimed that in just three years, the company scaled up from INR 1 Cr to INR 120 Cr in annualised revenue run rate. It is eyeing to cross INR 1,000 Cr in revenue by 2028.

The development comes at a time when consumer behaviour in the country has shifted towards opting for healthy options of their cravings such as snacks and ice creams.

The snacking industry has thus been seeing the growth of new entrants such as EAT Anytime, The Whole Truth, Naturell India, Soulfull, and Snackible with their innovative healthy snacking alternatives in the market.

In April alone, Jaipur-based Eat Better raised INR 17 Cr and Chennai-based Sweet Karam Coffee raised $8 Mn.

The Indian snacks market reached INR 42,694.9 Cr in 2023 and is projected to grow to INR 95,521.8 Cr by 2032, with a CAGR of 9.08% from 2024 to 2032, as per reports.