Nutritionist-led snacking brand Phab has raised USD 2 million (~INR 17 crore) in its seed funding round, in a big move that shows the growing demand for healthy food in India. The round was led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and several prominent angel investors.
The Mumbai-based startup, founded by husband-wife duo Ankit and Gayatri Chona, will use the fresh capital to expand the team, capex, scale online and offline distribution and production. The brand will also go deeper into quick commerce and digital channels and aggressively build offline presence in key Indian markets.
“Healthy snacking should feel joyful, indulgent and sustainable — not restrictive,” said Gayatri Chona, co-founder of Phab and a certified nutritionist. “This funding will help us scale with quality and innovation, build snacks people actually want to eat.”
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Phab’s Rise in a Growing Market
Founded in 2018 (some reports also mention 2022, possibly a relaunch or brand pivot), Phab has quickly found a niche in India’s growing healthy snacking space. The Chonas — known for their successful ventures like Hocco Ice Cream and Huber & Holly — combined Ankit’s decade long experience in the food industry with Gayatri’s nutrition expertise to create a brand focused on high-protein, flavor-forward snacks.
Phab currently offers a range of products including protein bars, protein milkshakes, protein powders and energy bars, with a science-backed approach. Their team of nutritionists, chefs and food scientists work together to ensure every product strikes a balance between nutrition and indulgence.
The startup has sold over 2 million units (bars, bombs and bottles) so far, using platforms like Amazon, Flipkart, Zepto and Blinkit for distribution.
Despite a 12% drop in standalone operating revenue to INR 5 crore in FY24 (from INR 5.7 crore in FY23), Phab managed to reduce its net loss by 3% to INR 6.8 crore. This financial discipline in tough market conditions shows the brand’s resilience and operational efficiency.
India’s food and beverages market, expected to reach USD 68 billion (~INR 5.80 lakh crore), is seeing a rise in health-conscious consumers who are looking for nutritious and protein-rich options. Brands like Yoga Bar, Beyond Snack, The Whole Truth, and now Phab are vying for a share of this growing pie.
Phab’s mission also addresses a national problem: India’s protein deficiency. The brand has partnered with schools and organizations working with underprivileged communities to provide better access to nutrition.
“The Indian consumer story is interesting,” said Suhail Sameer, founding partner at OTP Ventures. “Phab is bold, unique and exactly the kind of brand we want to back. We are excited to be a part of this journey.”
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Future Roadmap
With the new funding, Phab is poised to:
- Expand its omnichannel footprint (e-commerce, quick commerce, modern trade, and general trade)
- Launch new product categories in high-protein nutrition
- Strengthen its team with fresh talent across departments
- Enhance production capabilities to meet growing demand
- Deepen market penetration across Tier-1 and Tier-2 cities
As Indian consumers continue to prioritize health without compromising taste, Phab’s proposition of “joyful and indulgent healthy snacking” is well-positioned to resonate even stronger.
In a landscape brimming with opportunity and competition, Phab’s bold, science-driven approach and strong investor backing could well make it a frontrunner in shaping the future of nutrition in India.