Nutrition-led snacking brand Phab has raised $2 million in a seed funding round led by OTP Ventures, with additional participation from Capri Global, Sim&San law firm, and several angel investors. The funding aims to bolster team expansion, enhance capital expenditure, and accelerate the brand’s footprint in both online and offline markets.
Founded in 2018 by Ankit and Gayatri Chona, the husband-wife duo behind popular food brands like Hocco Ice Cream and Huber & Holly, Phab has quickly established itself in India’s booming healthy snacking space. Drawing from Ankit’s expertise in the food industry and Gayatri’s credentials as a certified nutritionist, the company offers high-protein, flavorful snacks such as protein bars and healthy milkshakes. These are available on platforms including Amazon, Flipkart, Zepto, and Blinkit, with over 2 million units sold to date.
Despite a 12% dip in operating revenue to ₹5 crore in FY24, Phab reduced its net loss by nearly 3% to ₹6.8 crore, as per filings accessed through Tofler.
“This funding will help us scale with quality and innovation,” said Gayatri Chona. “We believe healthy snacking should be joyful, indulgent, and sustainable — not restrictive.”
Ankit Chona added, “This investment helps us go deeper into quick commerce and scale aggressively offline across key markets. We’re thrilled to have long-term partners like OTP and Capri who share our vision.”
Suhail Sameer, founding partner at OTP Venture, expressed confidence in the brand’s trajectory: “Phab is bold, differentiated, and perfectly positioned to tap into India’s growing demand for protein-rich alternatives.”
With India’s food and beverages market projected to hit $68 billion, Phab joins a new wave of D2C brands like Yoga Bar, Beyond Snack, and The Whole Truth, catering to consumers looking for healthier snacking options.
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