- Gujarat-born Jagdish Farshan raises ₹43.5 crore in Series A led by Sharrp Ventures and angel investors
- The 1938-founded snacks and sweets brand secures its first institutional capital as it prepares for a pan-India expansion
- Funds to fuel new markets, manufacturing capacity, supply chain, distribution, technology and digital commerce
- With 27 outlets across central Gujarat and two in North America, the brand eyes the next leg of its growth journey
- CEO Aakash Kandoi says the mission is to build Jagdish Farshan “for the next 100 years” without compromising its legacy
NE ECONOMIC BUREAU
AHMEDABAD, AUG 31
When a 1938-born Gujarati farsan brand raises ₹43.5 crore nearly nine decades after its journey began, it is not merely raising capital—it is attempting to turn generations of consumer trust into a scalable food business.
Jagdish Farshan Pvt Ltd, the Gujarat-born brand known for its namkeens, traditional snacks and sweets, has raised ₹43.5 crore in Series A funding, led by Sharrp Ventures, the investment office of Harsh Mariwala, Founder and Chairman of Marico Ltd, along with a group of angel investors.
The fundraise marks the first institutional capital raise for Jagdish Farshan and comes at an inflection point for the company as it seeks to transform its strong Gujarat footprint into a broader national and, eventually, global food brand.
Founded in 1938, the company currently operates 27 retail outlets across central Gujarat, besides two outlets in North America.
The new capital is expected to provide the financial muscle for the next phase of that expansion.
₹43.5 crore to power the next leap
Jagdish Farshan plans to deploy the funds across several growth engines, including geographic expansion, manufacturing and supply-chain capacity, retail and institutional distribution, technology and digital commerce.
The company also intends to widen its portfolio across traditional snacks, namkeen and sweets while strengthening the systems required to maintain consistent quality as volumes and geographical reach increase.
For a legacy food business, that transition is critical.
What works at a handful of familiar outlets in a home market must be transformed into a repeatable operating model capable of serving consumers thousands of kilometres away—without losing the taste and identity that created the brand in the first place.
“Building Jagdish Farshan for the next 100 years”
Aakash Kandoi, CEO, Jagdish Farshan Pvt Ltd, said the fundraise represents a new chapter rather than a departure from the brand’s roots.
“This fundraise is about building Jagdish Farshan for the next 100 years.”
He said the company enters its expansion phase with a strong foundation of consumer trust, product quality and deep knowledge of India’s snacks and sweets market.
“We are now at a point where we can take what we have built in Gujarat and scale it across the country, without compromising on the qualities that have made the brand relevant for generations.”
The fresh capital, he said, would strengthen manufacturing, supply chain, distribution, technology and people while supporting continued product innovation.
Kandoi added: “Our ambition is to take our Gujarat roots to consumers across India and, eventually, to global markets.”
That ambition places Jagdish Farshan within a broader transformation underway in India’s food market, where traditional regional brands are increasingly seeking organised scale while retaining their local identity.
Sharrp sees a larger organised-food opportunity
For Sharrp Ventures, the investment represents a bet not merely on one established food brand but on the growth potential of regional Indian food businesses.
Divya Gupta, Principal, Sharrp Ventures, said: “Jagdish Farshan combines decades of consumer trust and product heritage with the opportunity to build a much larger organised food business.”
She said Sharrp was particularly interested in the long-term potential of regional brands.
“We believe Gujarati snacks/Farsan is a category with significant headroom for growth.”
According to Gupta, Jagdish Farshan’s brand equity, consumer connect and category position give it an opportunity to capture that growth.
“Aakash and the team have a clear vision for scaling the brand beyond its traditional markets.”
She described the investment firm as a long-term capital provider for the next chapter of the business.
From farsan to a national food platform
The investment comes at a time when India’s traditional food businesses are increasingly looking beyond their home markets.
Regional food brands possess one advantage that newer consumer businesses often spend years attempting to build: consumer familiarity and trust.
The challenge is converting that heritage into scale.
For Jagdish Farshan, the roadmap involves a combination of physical retail expansion, institutional distribution and digital-first commerce, supported by stronger manufacturing and supply-chain infrastructure.
Its existing presence in North America also provides an early international foothold as the company considers a longer-term global opportunity.
The strategic question will be whether the company can preserve the authenticity of its Gujarati food heritage while adapting its products, distribution and operating model for consumers across diverse Indian markets.
The capital behind the expansion
The Series A transaction was advised by Karnametic Partners LLP, which acted as exclusive investment banker, while Badaya Law Partners served as legal counsel.
With institutional capital now entering the business for the first time, Jagdish Farshan has moved from a largely organic growth trajectory into a more ambitious phase of expansion.
The investment gives the company an opportunity to accelerate capacity creation, strengthen distribution and build technology-enabled channels while continuing to expand its product range.
A 1938 legacy meets a 2026 growth play
The bigger story behind the ₹43.5-crore fundraise is the changing economics of India’s regional food brands.
For decades, names rooted in a particular city, community or culinary tradition were often constrained by geography. Today, organised manufacturing, modern logistics, e-commerce, digital marketing and institutional distribution are making it possible for such brands to travel far beyond their original markets.
Jagdish Farshan is now attempting exactly that.
Its immediate challenge is Gujarat.
Its next target is India.
And its longer-term ambition is global.
For a brand born in 1938, the Series A round therefore represents an intriguing reversal of time: the past is supplying the credibility, while fresh capital is being deployed to build the future.
As Kandoi puts it, the objective is not simply to make Jagdish Farshan bigger.
It is to make the brand relevant for the next 100 years.
