Hungry Foal, a Gurugram-based healthy snacks manufacturer, has secured an undisclosed amount of funding in Pre-Series A round led by Madison Capital.
While, Das42 Ventures, Innerchef’s co-founder Rajesh Sawhney, Startupbuddy’s CEO Amit Singhal, and senior corporate executives also participated in this round.
The platform will use the infused funds for product development, scaling the distribution, and building the brand.
Japna Rishi, Co-founder, Hungry Foal, said, “While we need to work on making Hungry Foal a household name in India, there is definitely a growing awareness about the importance of proteins, nutrients, etc., in the general population. However, healthy snacks are being priced in such a way that they remain totally out of reach for the masses – this is where Hungry Foal comes in.”
Hungry Foal was founded by Japna Rishi Kaushik and Vivek Kaushik in 2016. The platform claims to make nutrition tasty, affordable, and accessible to all.
The startup said its proprietary and scale up recipes coupled with latest foodtech, has helped it in achieving high quality and good taste at a reduced cost.
Hungry Foal sells its products across Tier II and Tier III cities.
The company further said that it is targeting $7 billion snacks market in India with healthy, tasty, affordable, and nutritionally rich substitutes.
According to Hungry Foal, its products are developed with a deep understanding of taste preferences and nutritional requirements. Some of its products include energy bars, muffins, nut mixes, etc.
The company also claims to offer similar nutrition profile at almost half of the price in its class and category.
Other startups in the snacks manufacturing industry include DFM Foods, Healthy World.in, Gits, Nilon’s, Bambino and many more.