Jagdish Farshan, the Vadodara-based namkeen and sweets business founded in 1938, has raised ₹43.5 crore in its first-ever institutional funding round, led by Sharrp Ventures.
The Story
Jagdish Farshan Pvt Ltd operated for 88 years entirely on family capital before raising ₹43.5 crore in a Series A round led by Sharrp Ventures, Harsh Mariwala's investment office, alongside a group of angel investors.
CEO Aakash Kandoi, who joined the family business in 2014 when it had just two stores, now oversees 27 outlets across central Gujarat and two in North America, with a portfolio spanning 500+ products.
The capital will fund a deliberate expansion: 30-40 new stores over two years, deepening presence in Gujarat before moving into Maharashtra and Madhya Pradesh, alongside stronger manufacturing capacity and a push into quick commerce and digital-first sales channels.
Business Insight
The raise reflects a broader pattern among India's heritage food brands: deep consumer trust and regional dominance, paired with fresh capital, to modernize manufacturing and distribution for national scale — echoing the same institutional-capital shift seen recently at Haldiram's, at a very different scale.
The FundForge Take
Jagdish Farshan's bet is a quieter, smaller-scale version of the same thesis playing out across Indian FMCG: regional heritage brands turning to quick commerce and institutional capital to go national, without losing what made them trusted in the first place.
