The munching habits of Indians while working remotely have altered that has paved the way for snacks. Gone are the days when we used to eat three meals a day and indulge in a few snacks during tea or coffee time in the evening. Be its biscuits, cookies, chips, instant noodles, kachoris, and sweets the snacks have found their place in our tummies to offer convenient distractions like mini work breaks that makes one feel good.
According to a survey conducted by Mondelez International and The Harris Poll Indians are consuming snacks for reasons such as comfort, convenience, and whether a snack is fun to eat. Around 77 percent of the surveyed have said that the social media platforms have inspired them to try a new snack. In the wake of the pandemic, the definition of snacks has evolved to be satiating the emotional and social health over that of a physical one. The survey also found 8 out of 10 Indians looking for bite-sized snacks that can improve their social health.
Looking at the massive potential of snacks consumers, several snacks startups were showcased in Shark Tank India- a reality show where several startups pitch to win investments that have successfully received investments from the investors. Here are the ones.
According to a survey conducted by Mondelez International and The Harris Poll Indians are consuming snacks for reasons such as comfort, convenience, and whether a snack is fun to eat.
4 Homegrown Snacks Startups that wooed the Sharks
Who does not love momos? Bluepine foods a Delhi-based food startup incubated at IIM- Bangalore is the brainchild of Mrs. Aditi Bhutia Madan who sells frozen momos. The idea of selling frozen momos sparked off when she moved to Delhi and was deeply missing the Himalayan cuisine that prompted her to start her venture. Sharks Aman Gupta, Vineeta Singh, and Ashneer Grover collectively invested Rs 75 lakhs for 16 percent equity of her business.
Skipii Ice Pops
This homegrown ice candy brand will take us back to our nostalgic childhood of the 90s where kids bought colourful Pepsi sticks for Re 1 or 2. Skipii Ice Pops based out of Hyderabad produces ice pops that contain no artificial preservatives, sweeteners, flavours, or colours and has interesting flavours of on, cola, orange, and bubblegum. Founders Ravi and Anuja Kabra managed to raise Rs1 crore for 15% equity of their company from all five shark tank judges on the show. What made the sharks feel this to be an investible business was the nostalgia element, which will drive its purchase other than quality and hygiene.
The State Plate
Nothing can match the authentic taste of Rasgullas if you are buying from a city other than Kolkata. People who stay in cities far from their natives sometimes long for their hometown snacks and The State Plate – a Bangalore-based startup understood it very well. The State Plate delivers local and traditional hometown snacks, sweets, spices, pickles, and drinks from across India to your home. Whether it is Ghevar from Rajasthan or bhakarwadi from Maharashtra all the snacks are now available at your fingertips. It received funding from Lenskart founder Peyush Bansal, who gave them a deal for Rs40 lakh for 3% equity and a debt line of Rs 25 lakh.
Evening time tea in India is never without snacks but most snacks are fried with excessive palm oil and salt. Tapping into the country’s chai time and love for snacks Let’s Try, a snack brand that offers tasty namkeen ranging from Bikaneri Bhujia to corn mixture all made through traditional methods using 100 percent pure groundnut oil and is free from preservatives, No artificial flavors, or colors, no trans fats or cholesterol. To increase the nutrient value of snacks it also included flax seeds. The snack brand founded by Nitin Kalra, Chitra Gupta, Neelam Kalra, and Geetanjali raised Rs 45 lakh from Anupam Mittal and Aman Gupta for 12% of their company.