Jagdish Farshan Raises Rs 43.5 Crore in Series A Funding
Jagdish Farshan Pvt Ltd has raised Rs 43.5 crore in Series A funding, the Gujarat-based snacks and sweets startup's first institutional capital raise.
The round was led by Sharrp Ventures, the investment office of the Harsh Mariwala family. Harsh Mariwala is the founder and chairman of consumer goods company Marico Limited. A group of angel investors also participated.
Founded in Vadodara, Gujarat, in 1938, the company has developed a retail presence in India and North America, alongside manufacturing and distribution operations.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
The capital will fund expansion into new markets across India, increased manufacturing and supply-chain capacity, and strengthened retail and institutional distribution networks. The company also plans to invest in technology and digital commerce.
"This fundraise is about building Jagdish Farshan for the next 100 years," said CEO Aakash Kandoi. "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."
Divya Gupta, Principal at Sharrp Ventures, said: "Jagdish Farshan combines decades of consumer trust and product heritage with the opportunity to build a much larger organised food business. We believe Gujarati snacks and farsan is a category with significant headroom for growth."
More in Funding
