Jagdish Farshan raises Rs 43.5 Cr led by Sharrp Ventures

Jagdish Farshan, a snack brand based in Gujarat, has successfully raised Rs 43.5 crore in its Series A funding round, spearheaded by Sharrp Ventures, the investment arm of Harsh Mariwala, Founder and Chairman of Marico Limited. The investment was also supported by a group of angel investors. The funds will be utilized for geographic expansion, enhancing manufacturing and supply-chain capacity, retail and institutional distribution, as well as technology and digital commerce.

This marks Jagdish Farshan's first institutional capital raised as the company plans to extend its reach beyond Gujarat. Currently, the company operates 27 retail outlets across central Gujarat, along with two outlets in North America. CEO Aakash Kandoi expressed optimism, stating, "This fundraise is about building Jagdish Farshan for the next 100 years.

With a strong foundation of consumer trust, product quality, and deep understanding of the Indian snacks and sweets category, we are now poised to scale our operations across the country, maintaining the qualities that have made the brand relevant for generations."

Established in 1938, Jagdish Farshan offers a diverse range of products including snacks, namkeen, and sweets. The company boasts a portfolio of over 500+ products/SKUs and a multi-market presence, backed by manufacturing capabilities and an expanding distribution network across retail and institutional channels. The investment arrives at a time when established regional food brands are exploring ways to expand beyond their regional markets by venturing into organized manufacturing, wider distribution, and digital-first channels.

Jagdish Farshan aims to leverage its product heritage and regional strength, coupled with a modern operating platform, to deepen its existing markets and venture into new geographical areas.

Divya Gupta, Principal at Sharrp Ventures, commented, "Jagdish Farshan's combination of decades of consumer trust and product heritage with the potential to build a larger organized food business presents a compelling opportunity."