Liquidity Events
Reliance Retail unit to acquire D2C snacks seller TagZ Foods for Rs.28-Cr
Reliance Consumer Products, a wholly-owned subsidiary of Reliance Retail, is acquiring Bengaluru-based D2C (direct-to-consumer) snacking startup TagZ Foods for INR 28 crore (USD 3.5 million).The D2C brand halted production a few months ago. Its products have not been available on e-commerce marketplaces and retail stores for the last few months.Founded in 2019 by Anish Basu Roy and Sagar Bhalotia, TagZ is an omnichannel snacking brand that sells popped potato chips, gourmet dips and cookies across its website, e-commerce platforms, and offline retail stores. The startup reported a net loss of INR 10.7 crore on an operating revenue of INR 9.6 crore in FY23.TagZ had raised about USD 3.2 million across multiple funding rounds (primarily from angel investors).
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