Jagdish Farshan, the Gujarat based snack brand has raised Rs 43.5 crore in a Series A round of funding led by Sharrp Ventures, the investment office of Harsh Mariwala, Founder and Chairman of Marico Limited, alongside a group of angel investors.
Jagdish Farshan will deploy this capital towards geographic expansion, manufacturing and supply-chain capacity, retail and institutional distribution, technology and digital commerce.
This is the first institutional capital raised by Jagdish Farshan as the company looks to expand beyond the state of Gujarat.
It currently operates 27 retail outlets across central Gujarat, alongside two outlets in North America.
On the funding raised, Jagdish Farshan CEO Aakash Kandoi said, “This fundraise is about building Jagdish Farshan for the next 100 years.
