Packaged snacks start-up Sattviko aims to leverage on technology to grow its distribution reach at a quicker pace, in a bid to grab a bigger pie of the snacks category.
As part of its product-portfolio expansion, the company is also looking to launch a new range of snack products targeted at kids.
The start-up, known for its healthy snacks products such as Makhanas and Khakhra (wheat) chips, is currently in talks with investors to raise the next round of funding. Prasoon Gupta, Co-founder & Director, Sattviko, said, “In the next two years, we plan to grow our distribution reach to about 20 cities. We expect to close this fiscal with net revenues of about ₹20 crore, which is a growth of nearly five times over the last fiscal.” It currently sells its products across the top ten cities.
AI and distribution
For a quicker scale-up of its distribution, the start-up is banking on its in-house AI-based technology platform called Jigsaw, which has enabled gamification of its sales force.
“We are hoping to grow our distribution reach at a faster pace by leveraging on our in-house AI technology-driven platform. This has helped us achieve sales force gamification. This will enable managing and training sales force more efficient, especially our last-mile sales team,” he added.
The company is also looking to get its distributors and retailers on this platform in the future.
Sattviko focuses on taking traditional recipes and offering them to consumers in healthy modern formats.
The start-up now aims to close FY 19-20, with net revenues of about ₹70 crore, which will be fuelled by expansion of distribution and launch of new products.
It recently launched its new product called the Minute-Namkeen, in a two-in-one snack format, which can either be munched as a dry namkeen or can be consumed as a meal with the addition of hot water.
Kids snacks segment
Talking about future plans, Gupta said, “We are next looking to launch a new range of snacks targeted at kids, as time-pressed parents are increasingly looking to feed healthy snacks to their kids. This will include launch of new variants of Khakra chips that will be fortified with nutrients. We will also launch other new products in this range.”
In the past, Sattviko has raised strategic funding from a clutch of angel investors such as Ashish Gupta (Helion Ventures), Sunil Chandiramani (Former EY India head) and Arvind Uppal (Chairman, Whirlpool India) among others.