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
Bengaluru-based TagZ, a popped chips maker and a premium GenZ snack brand, has raised $2 million in funding in a Pre-Series A round led by 9 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 has claimed to manufacture popped potato chips with 50 per cent less fat, international gourmet dips and a range of centre-filled cookies. The start-up leverages food technology to make potato chips that claim to have no cholesterol, no transfat, no artificial colors, or preservatives.
On the fresh round, Anish Basu Roy, founder and CEO of TagZ, said."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 Singh, actor and television personality, has invested in this round and shall be endorsing the brand as well.
Commenting on his association with 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 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."
Tushar Agarwal, Partner at Dexter Angels, 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 claimed to register a 30x increase in volumes in the last 18 months.
The funds will help the company to strengthen its technology and expand its customer reach globally
Soptle will utilise the fund to fuel the expansion of its retailer-network reach and manufacturing partner footprint across India
According to a report by the Mint, the FIR has been registered against the involved parties under eight sections of serious cognizable criminal offences