Vikas D Nahar’s journey in the business world began with limited resources. He launched ‘Happilo’, a brand focused on dry fruits and healthy snacks, in 2016 with an initial investment of Rs 10,000 and a small team of two employees. Nearly a decade later, the brand has reportedly reached a valuation of approximately Rs 700 crore, as per Tracxn data from January 2026. However, this venture was not Nahar’s first foray into entrepreneurship.

Raised in Sakleshpur, Karnataka, in a family engaged in coffee and pepper cultivation, Nahar gained invaluable insights into the food industry from a young age. He pursued a degree in Computer Applications at Bangalore University before completing an MBA in Marketing at Symbiosis Centre for Management and Human Resource Development (SCMHRD) in Pune.

His educational background laid the groundwork for his future business ventures. Nahar’s career commenced in the trading sector, where he worked with the Jain Group, acquiring experience in international spice trading. His overseas trips introduced him to various packaged food products and convenience stores, which later influenced his entrepreneurial decisions.

Identifying Market Opportunities with ‘Happilo’

Before founding ‘Happilo’, Nahar had already established a gourmet retail venture named Satvikk Speciality Foods in 2011, offering products like chocolates and sugar-free items. However, he left this business in 2015, having realised the potential in the health snack market. His experience in gourmet retail allowed him to identify a gap in India’s market for branded dry fruits and packaged healthy snacks, which were not as readily available at that time.

In September 2016, Nahar officially launched ‘Happilo’, initially as a proprietorship, before incorporating the company in 2018. The brand started with a modest capital of Rs 10,000, but to scale operations effectively, he sought additional funding. Nahar secured a Rs 75 lakh collateral-free loan through a government-backed credit guarantee programme, which facilitated the establishment of processing facilities, automation, packaging, and supplier expansion.

An important milestone for ‘Happilo’ was securing a listing on BigBasket, which enabled the brand to reach customers in six major cities. Following this, Happilo expanded its presence to other online marketplaces, including Amazon and Flipkart, as well as physical retail outlets, significantly increasing its market reach.

Challenges and Recognition in the Industry

In 2023, Nahar gained further recognition by appearing as a guest investor on ‘Shark Tank India 2’, where he evaluated other entrepreneurs. In his introductory video, he disclosed that prior to the success of ‘Happilo’, he faced rejection from approximately 20 investors, highlighting the challenges he encountered in securing initial funding.

Despite its impressive valuation, the financial trajectory of ‘Happilo’ reveals complexities. The brand’s valuation peaked at around Rs 1,600 crore in January 2022 but fell to approximately Rs 700 crore by January 2026. Additionally, the company’s revenue declined by 15 per cent to Rs 282.57 crore for the financial year ending March 2025, which resulted in a net loss of Rs 9.55 crore.

The narrative of ‘Happilo’ extends beyond the transformation of a small initial investment into a recognised snack brand. It encapsulates the essence of identifying market opportunities, learning from previous business experiences, and navigating the challenges of growth without relinquishing equity too early.

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