TagZ Foods, a Bengaluru-based snacks brand, has announced that it has raised undisclosed amount of funding from Ashneer Grover of BharatPe and Namita Thapar, Executive Director of Emcure Pharmaceuticals.
The company was a participant on the start-up pitching show Shark Tank India. While Grover wrote a cheque to the startup on the show, Thapar, who is also one of the Sharks on the show, invested in TagZ Foods immediately outside of the show, the company has announced.
The company had raised $500,000 in pre-Series A funding in April last year from Dexter Angels, Agility Ventures, Venture Catalysts,, Dharamveer Chouhan (Co-Founder, Zostel), Dhruv Toshniwal (Co-Founder, The Pant Project), and Arjun Vaidya (Co-founder, Dr Vaidya’s) among others.
It plans to utilise the funds to expand its product line, production capacity and strengthen its distribution to other cities in the country.
“ I am personally passionate about healthy snacking & through Emcure bring healthcare expertise & networks to any company I associate with. TagZ is a brilliant brand that balances fitter snacking options without compromising on taste & I am excited to help them scale in India & globally,” said Thapar.
Founded by Anish Basu Roy and Sagar Bhalotia in 2019, TagZ Foods manufactures popped potato chips with 50 per cent less fat, international gourmet dips and a range of premium bar snacks. The startup leverages food technology to make potato chips that claim to have no cholesterol, no transfat, no artificial colors, or preservatives.
“We are extremely delighted to have Namita and Ashneer on board as we build a truly international snack brand. It was heartening to see that the Sharks were so keen on partnering with a young brand like TagZ. We are accelerating our new product launches, ramping up capacity and our market presence aggressively. With these plans in place we expect our revenues to grow 8x during the current fiscal,” said Anish Basu Roy, co founder of TagZ;
Prior to TagZ, Roy has cofounded Shotang, a B2B supply chain logistics startup and has worked with brands like Nokia and Coca Cola in various sales and marketing leadership positions across Asia.
TagZ has registered a 30x increase in volumes. It focuses on the top 30-40 million households of the country through an omnichannel strategy that includes over 30 online partners and over 2,000 offline stores. So far it has sold 40 lakh units of products.