Healthy snacking startup Phab has raised $4 million in a Pre-Series A funding round led by OTP Ventures and Chona Family Office, the company announced. The Mumbai-based direct-to-consumer brand plans to use the fresh capital to build its brand, expand its geographic footprint, and strengthen its leadership team as it scales across online and offline channels, according to inc42.com.
The funding round follows a $2 million seed round raised a little over a year ago, also led by OTP Ventures, with participation from Capri Global, Sim & San Law Firm, and a group of angel investors. Founded in 2018 by husband-wife duo Ankit and Gayatri Chona, Phab offers protein bars, milkshakes, and other high-protein snacks. The startup leverages Ankit Chona’s food industry experience and Gayatri Chona’s nutritionist background to cater to growing consumer demand for healthier food options in India.
Phab sells its products through ecommerce and quick commerce platforms such as Amazon, Flipkart, Blinkit, and Zepto, alongside modern trade and general trade outlets. Unlike many D2C food brands that rely heavily on online sales, nearly half of Phab’s business comes from offline channels. The healthy snacking segment is among the fastest-growing categories in India, driven by rising consumer awareness about protein intake, fitness, and preventive healthcare.
Phab’s latest $4 million Pre-Series A round will support its efforts to scale its presence across both online and offline channels. The company aims to expand distribution and enhance its leadership team as it targets growth in the healthy snacking market, which continues to attract investor interest.