[Funding alert] Ex-Ola Advisor Srinivas Chunduru invests in Mumbai startup SnackAmor
Mumbai-based SnackAmor on Thursday said it has secured a second round of undisclosed funding from Srinivas Chunduru, Founder of VANS Group. Earlier, Srinivas served as a senior advisor at OLA and was the CXO at the Piramal Group.
With this investment, Srinivas will be inducted into SnackAmor's Board of Directors.
This is VANS Investments', a part of the VANS Group's, second round of investment in the Mumbai startup. It had concluded a first round of funding in July last year.
Started in 2017, Mumbai-based SnackAmor is a healthy snack startup founded by Deepak Grover.
According to an official statement, the startup is raising around $1 million in pre-Series funding from various investors. It plans to utilise the funds to expand its team, new product launches, and scale distribution in retail and digital/ecommerce.
Other investors in SnackAmor include Michael Cooke (VP - Jabil Group), Simmarpal Singh (CEO India - Cofco International), Tarek Sadi (MD - Endeavour Middle East), and Marc Deschamps (Former CEO - Jebsen and Jessen).
Speaking about the investment, Deepak Grover, Founder, SnackAmor, said,
"SnackAmor has received a big endorsement from its existing investors like Dr Srinivas Chunduru, who has infused additional capital in the company to support its growth plan. This capital will support SnackAmor’s expansion plans."
“Chunduru will play an instrumental role in chartering a robust five-year strategic planning and tactical execution plan, and put in place systems and best practices to achieve the growth plan,” Grover added.
Speaking about his association with SnackAmor, Srinivas said,
"It is our endeavour to invest in interesting scalable startups with a passionate founder. This is our second round of funding in SnackAmor. We are confident about its growth story, and want to support SnackAmor's growth plans."
So far, VANS Investments has made investments of over $1.5 million in five startups in the fintech, foodtech, mobility, and ecommerce sectors.
Edited by Suman Singh