Phab Raises $4 Million in Pre-Series A Funding Round

By: Women Entrepreneurs Review Team | Thursday, 4 June 2026

Mumbai-based protein snack brand Phab has raised $4 million in a pre-Series A round led by OTP Ventures and Chona Family Office, with a view to consolidate its operations in India's rapidly expanding health and nutrition segment.

This new investment follows a $2 million seed round investment in April 2025. OTP Ventures was the leading investor in that round, which included Capri Global, Sim&San Law Firm, and a host of angel investors.

The proceeds of the new funding round will go towards scaling the business nationally, building the brand and adding more team members, the company said.

In 2022, Phab, founded by Gayatri Chona, brings together food science and taste, with a variety of high-protein, calorie-efficient products. It has a range of protein milkshakes, energy bars and protein snack products, all aimed at the health-conscious consumer who wants something quick, easy and nutritious.

Key Highlights:

• Phab raised $4 million in a Pre-Series A round led by OTP Ventures and Chona Family Office
• The funding will support national expansion, brand building, and team growth
• Founded in 2022, Phab offers high-protein snacks and drinks for health-conscious consumers

In the past few years, the demand for protein-rich food and functional foods has increased considerably in India with the rising awareness of fitness, wellness and good nutrition. Acknowledging this expanding consumer base, Phab is positioning itself to meet this demand by melding nutrition and flavour innovation.

It has also expanded its distribution network in the offline and online channels. “Almost half of our sales are through our offline channels – modern trade and general trade – because of that our outlets are on the ground,” according to Phab.

Moreover, the brand is witnessing a boost in its presence on fast commerce platforms. It has been developing a chain of dark stores in Tier II and Tier III cities as a result of which it is able to penetrate into markets beyond metros. The company claims that its market share keeps growing in these platforms gradually.

Phab is competing in a competitive space and has competition from a number of established and emerging nutrition brands, such as Super You, Max, Whole Truth and Yoga Bar.

The company is looking to ramp up its growth plans and continue to solidify its market foothold in India's rapidly growing protein and healthy snacking market with the infusion of new capital.

This has made the rise of start-ups in the category appealing to investors in recent years due to an increase in disposable income, expansion of internet access and the emergence of fast commerce companies, which in turn has fueled demand for healthier packaged foods.

Nutrition focused startup Good Monk had recently raised $2 Mn in a Pre-Series A round led by RPSG Capital Ventures, and healthy food brand Salad Days had raised INR 30 Cr in a Series A round of funding, co-led by V3 Ventures and Client Associates Alternate Fund earlier this year.