D2C snacks brand Happilo raises $25 mn from Motilal Oswal Private Equity

Aims to scale business to Rs 2,000 crore in revenue over the next 4 years

Snacks brand Happilo has raised $25 million from Motilal Oswal Private Equity to build its D2C business, which includes dry fruits, trail mixes, nut protein bars and muesli. Happilo had earlier raised $12 million from A91 Partners in February 2021.

Established in 2016 by Vikas Nahar, Happilo is an omni-channel healthy snacking brand. Happilo said it is profitable and has grown its business by 4x in the past 24 months.  

“Partnering with MOPE will help accelerate our growth plans and significantly scale the business from current levels. This will help us serve our customers better and help us achieve our Rs 2,000 crore revenue target in the next 4 years,” said Vikas Nahar, Promoter and CEO of Happilo.

“We are thrilled at the progress made by Happilo in building a digital first snacking brand in the past year. Covid has emphasized the importance of healthy eating and nutritious food in the mind of every customer. The MOPE investment will help the company accelerate its plans across – brand, product and distribution,” said V T Bharadwaj of A91 Partners.

MOPE’s third private equity fund, IBEF III, was launched in 2018 and has a Rs 2,300 crore ($320 million) corpus. It has committed around 97 per cent of its capital across ten portfolio companies, with Happilo being the tenth investment. Further, MOPE has recently launched IBEF IV with a target corpus of Rs 4,500 crore ($600 million) and has achieved its first close at Rs 2,660 crore ($350 million) last November.