Jagdish Farshan raises Rs 43.5 Cr led by Sharrp Ventures
This Gujarat based regional snack brand will use this capital for expansion related activities
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. We have a strong foundation of consumer trust, product quality and a deep understanding of the Indian snacks and sweets category. We are now at a point where we can take what we have built in Gujarat and scale it across the country, without compromising on the qualities that have made the brand relevant for generations.”
Established in 1938, the range of products by Jagdish Farshan include snacks, namkeen and sweets. It has a portfolio of 500+ products/SKUs and a presence across multiple markets, supported by manufacturing capabilities and an expanding distribution network across retail and institutional channels.
The statement said the investment has come at a time when established regional food brands are seeking to move beyond regional markets by investing in organised manufacturing, wider distribution and digital-first channels. In this market, Jagdish Farshan aims to combine its product heritage and regional strength with a modern operating platform to deepen existing markets and expand into new geographies.
Divya Gupta, Principal, Sharrp Ventures, said: “Jagdish Farshan combines decades of consumer trust and product heritage with the opportunity to build a much larger organised food business.”