Food and beverages company Slurrp Farm witnessed a revenue growth of 2.1X as compared to the previous year’s Rs 19.8 crore. Subsequently its revenue from operations also ballooned from Rs 19.15 crore in FY22 to Rs 40 crore in FY23.
Incorporated in 2016, the Gurugram-based company is a Millet-based food start-up that offers multigrain food and snacks for kids and toddlers. It provides a variety of snacks including pancake, dosa, upma, noodles, pasta, and natural sweeteners among others.
The company saw losses amounting to Rs 32.2 crore in FY23, a 1.7X rise from FY22’s Rs 19 crore. Its EBITDA stood at -72.54% while the ROCE is -121.09%.
It saw expenses rising to Rs 73.9 crore from the previous year’s Rs 38.7 crore. Expenses on advertisement and promotional costs and cost of materials took up the top two spots in the fiscal year ending March 2023. In FY22, the company spent an approximate of Rs 18 crore and close to Rs 6 crore on the two segments respectively.
Slurrp Farm has raised a total of Rs 138.98 crore over 6 funding rounds. Its latest funding was raised on January 8, 2024. The Series C round Raised Rs 59.9 crore with Alkemi Venture and Madhurima International Pvt Ltd as the lead investors.
Post the round, while founders Meghana Narayan and Shauravi Malik holds over 20% of the company shares, the new investors Alkemi Venture and Madhurima International Pvt Ltd holds an equal share of over 3% of the company.
Slurrp Farm competes against the likes of Nutrihub, Troo Good, and Millet Amma.