D2C Snacking Brand Eat Better Bags INR 17 Cr From Prath Ventures, Others

D2C snacking brand Eat Better has raised INR 17 Cr (around $2 Mn) in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital, along with other existing investors.

The startup plans to use the fresh capital to expand its product line and scale up business on various quick commerce platforms.

The Jaipur-based startup shot to fame after appearing in Shark Tank’s season this year. It also received a commitment of INR 50 Lakh (around $58K) from Namita Thapar, executive director at Emcure Pharmaceutical.

Founded in 2020 by Vidushi Kanoria, Mridula Kanoria and Shaurya Kanoria, Eat Better sells healthy snacks such as dry fruit ladoos, namkeens and nuts and seeds among others.

The startup claims to fulfill 2 Lakh orders every month.

“When we started, it was just about making great snacks for friends and family. But over the years we realised we were solving a much bigger problem—people wanted delicious, healthy snacks they could trust,” said Mriduala.

The startup competes with the likes of Happilo, Yoga Bar and The Whole Truth in the healthy snacking space.

According to an Inc42 research, the overall food and beverages market in India is set to become a $68 Bn opportunity by 2030.

According to Tofler, the startup’s standalone revenue from operations zoomed almost 3X to INR 14.47 Cr in the financial year ending March 31, 2024 (FY24) from INR 5.33 Cr in the previous fiscal year.

The startup also managed to trim its net loss by 46% to INR 63 Lakh in the period under review from INR 1.18 Cr FY23.

According to Inc42’s Indian Tech Startup Funding Report, 2024, the direct-to-customer startups in India snapped up more than 50% of the total funding in the overall ecommerce sector last year.

With investors being bullish on India’s D2C ecosystem, it accounted for $840 Mn in total funding in more than 1,000 deals in 2024.