The startup will use the infuse funds to grow its range of healthy granola bars (called ASAP Bars), strengthen the distribution network of its products as well as onboard senior hires across key functions in the company.
WIMWI Foods said, “The investment from Parle biscuits is validation of the team’s vision of ASAP bars as a brand and product. As strategic investors with immense repute, Parle brings formidable experience to the table, which will go a long way in building ASAP Bars going ahead.”
While, at present, the startup is focussed on building its sales in both the conventional mass-market (mom and pop stores) as well as modern trade channels (ecommerce). The brand plans to reach 50,000 retail points, selling its products by the end of this year.
Mayank Shah, Senior Category Head, Parle Products, stated,”ASAP bars offers a strong value proposition for the young urban segment. By using premium quality ingredients and a focussed channel strategy, ASAP Bars has differentiated itself from similar offerings in the market. The team at ASAP bars is doing a wonderful job in building up the brand, and we would like to help them take the brand to the next level with our expertise.”