Vadodara-based Jagdish Farshan, a legacy Gujarati snacks and sweets brand established in 1938, has raised ₹43.5 crore (approximately $4.6 million) in a Series A funding round. The round was led by Sharrp Ventures, the investment office of Marico founder Harsh Mariwala, along with several angel investors. This marks the company’s first institutional capital raise in its 88-year history, announced this week according to inc42.com.
The capital infusion will be used to expand manufacturing capacity and retail distribution, while deepening the company’s presence in quick commerce. Jagdish Farshan currently operates 27 retail outlets mainly in central Gujarat and two in North America, with plans to add 30-40 stores over the next two years. The company is already selling through platforms such as Blinkit, Swiggy Instamart, and BigBasket in Gujarat, Mumbai, and Pune, in addition to its direct-to-consumer website, inc42.com reported.
The quick commerce segment is a growing channel for traditional brands to reach wider markets rapidly. Jagdish Farshan’s digital sales and exports currently contribute about 15% of its revenue, while retail accounts for 85%. The company aims to leverage quick commerce to build a pan-India presence, expanding beyond Gujarat into Maharashtra, Madhya Pradesh, and other states. The funding round led by Sharrp Ventures highlights investor confidence in quick commerce as a growth avenue for heritage brands, according to inc42.com.
Jagdish Farshan’s CEO Aakash Kandoi confirmed the company’s plans to use the funds to scale operations and distribution. The company’s next steps include expanding its retail footprint and increasing quick commerce penetration across multiple Indian states, with a focus on building a national presence, inc42.com stated.