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Venture Catalysts leads $500k round in TagZ Foods – an urban, GenZ snack brand
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Monday, 19 April, 2021, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Venture Catalysts - India’s largest integrated incubator and early stage investor, has unveiled its pre-series investment in TagZ Foods, a snacking brand focused on urban GenZ.
The round also saw participation from Dharamveer Chouhan (co-founder, Zostel), Dhruv Toshniwal (co-founder, The Pant Project), Loy Halder (managing director, Goldman Sachs) among others. Shailesh Ghorpade (managing partner – Exfinity Ventures) has been on the board of the company.
Founded in 2019 by Anish Basu Roy and Sagar Bhalotia, the brand aims to craft lip-smacking, innovative and fitter snacking experiences for the young urban consumers in leading a healthier and more active lifestyle. It is the first brand in India to manufacture popped potato chips - that are never fried, never baked - and have 50 per cent less fat. The brand uses cutting-edge food technology, to make these potato chips which have no cholesterol, no transfat, no artificial colours or preservatives.
Speaking on the investment, Anish Basu Roy – TagZ Foods, said, “Our mission is to bring global innovation in food-tech for the Indian GenZ consumers, with our lips-smacking and better-for-you snacking experiences. At the same time, we want to help this future generation beat obesity and truly enjoy active passions such as travel, outdoors and sports. After all, life is much more than mobile games and binge-watching. Also, we are a 100 per cent made-in-India product and have already helped over 2.5 lakh consumers shift to fitter potato chips and quit the fatty fried ones.”
Dr Apoorva Ranjan Sharma, co-founder and managing director – Venture Catalysts, said, “There is, currently, a major tech-led transformation afoot in the Indian snack food industry. TagZ Foods is at the forefront of this disruption with its innovative manufacturing processes and specialised foodtech. We have full faith in the founding team’s vision to craft an Indian GenZ brand and fulfil the growing demand for fitter snacking experiences.”
It is the first brand in the country to indigenously manufacture Popped Potato Chips with 50 per cent less fat. The brand is available on all online platforms including Amazon, Big Basket, Supr Daily, Grofers and others. It also has a strong offline presence with over 1,000 premium retail stores in Bangalore and other cities.
Since its launch, the brand has served more than 2.5 lakh consumers. With the funding, it will now improve its distribution and production capacity in other major cities across the country. Consumers can also expect to see a range of new innovative products being launched by the company, which will disrupt traditional snacking in the country.
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