Phab: Innovative Protein Snack Brand Secures Funding
Protein snack brand Phab has successfully raised $4 million in a pre-Series A funding round, co-led by OTP Ventures and Chona Family Office. Previously, this Mumbai-based startup obtained $2 million in a seed funding round, also led by OTP Ventures, with contributions from Capri Global, Sim&San law firm, and other angel investors in April of last year.
The newly acquired funds will be directed towards brand development, expanding geographically, and reinforcing the team, as indicated by Phab in a press release.
Founded in 2022 by Gayatri Chona, Phab is dedicated to merging food science with taste, creating high-protein, calorie-efficient snacks that include protein milkshakes, energy bars, and protein-infused treats.
Phab reports having established a 50% offline presence in both modern trade and general trade sectors. Additionally, in the quick commerce space, the brand has expanded its presence in dark stores across tier II and III cities, with its market share steadily increasing across various platforms.
In this competitive market, Phab stands alongside other prominent brands such as Super You, Max, Whole Truth, and Yoga Bar.