Mumbai: TagZ, India’s first popped chips maker and a premium GenZ snack brand, has announced that it has raised $2 million in funding in a pre-series round led by nine unicorns, Dexter Angels, Agility Ventures, Venture Catalysts, Klub, Indifi and Rannvijay Singha.
Prior to the current funding round, TagZ had raised a total of $1.2 million in seed funding from a group of angel investors in 2020. The company was a participant in the show Shark Tank India’s first season and had raised undisclosed funding from Namita Thapar and Ashneer Grover.
TagZ will use the funds to accelerate the growth of the company, enter new markets, expand its manufacturing capacity, strengthen operations and launch new products. The funding will also be used to enhance the company's technology platform, strengthen its logistics network, and increase its marketing and brand awareness efforts.
Founded by Anish Basu Roy and Sagar Bhalotia in 2019, TagZ Foods manufactures popped potato chips with 50 per cent less fat, international gourmet dips and a range of centre-filled cookies. The startup leverages food technology to make potato chips that claim to have no cholesterol, no transfat, no artificial colours, or preservatives.
TagZ founder and CEO Anish Basu Roy said, “that the new funding will enable the company to pursue its goal of becoming the fastest growing food D2C brand ."We are thrilled to have such strong support from our investors In our journey of creating a fitter snack brand for the younger generation. We plan to double down on your efforts to grow 4X this year”.
With this, the Bengaluru-based new-age snacking brand TagZ has also announced that Rannvijay Singha, the popular actor, and television personality, has invested in this round and shall be endorsing the brand as well. Rannvijay is known for his entrepreneurial spirit and his passion for new-age and disruptive brands. His association with TagZ is expected to give the company a significant boost in terms of brand awareness and customer engagement.
TagZ, Rannvijay said, “I am excited to partner with TagZ, a company that is at the forefront of the D2C revolution in India. I love the fact that TagZ as a snack brand revolves around travel, sports and the outdoors. I believe that TagZ has the potential to become a major player in the industry, and I am looking forward to being a part of this journey”.
Dexter Angel's partner Tushar Agarwal, one of the lead investors in the round said, “ Tagz has garnered significant consumer love as a brand in a short period of time. Since our investment in their previous round, they have demonstrated impressive scalability and growth over the past 18 months, while still maintaining a steadfast focus on profitability. As we continue to partner with Tagz, we are thrilled to double down and support their next phase of growth”.
TagZ has registered a 30x increase in volumes in the last 18 months. It focuses on the top 30-40 million households of the country through an omnichannel strategy that includes a network of 5000 retail stores, and availability in over 30 e-commerce platforms such as Swiggy Instamart, Zepto, Blinkit amongst others serving consumers across 22 cities. TagZ products are now also available in international markets like Kuwait, Dubai, Maldives and Australia.