Berco's partners with Japanese food brand to launch 'Bento by EN'

Fast-food chain Wow! Momo has secured Rs 70 crore (around $9 million) in an expanded Series D funding round from Z3 Partners.

With this latest infusion, the company has amassed Rs 480 crore ($51 million) in its Series D funding, comprising Rs 270 crore in primary funding and Rs 210 crore in secondary funding.

According to a report from the media, Indian Angel Network and Lighthouse Funds took part in the secondary acquisition.

In January this year, Wow! Momo secured Rs 350 crore (roughly $42 million) in the initial installment of its Series D funding, spearheaded by Khazanah Nasional Berhad.

 According to startup data intelligence platform TheKredible, the company was valued at more than $300 million.

According to the company, the fresh funds will be allocated towards advancing and expanding the quick-service restaurant brand, enhancing distribution channels, and investing in research and development for its FMCG division.

Wow! Momo ventured into the FMCG sector in July 2021.

Founded by Sagar Daryani and Binod Homagai, the 16-year-old Wow! Momo Foods manages three quick-service restaurant (QSR) brands—Wow Momo, Wow China, and Wow Chicken.

The company asserts a presence of 630 outlets spanning across 38 cities and maintains a direct workforce of 6,000 individuals.

During the current fiscal year (FY25), the company plans to broaden its reach by adding another 200 outlets.

Wow! Momo targets achieving a revenue range of Rs 650-700 crore in the current fiscal year (FY24), compared to Rs 435 crore in FY23.

Although the company has not yet submitted its financial statements for FY23, its operational revenue surged twofold to Rs 220 crore in FY22 from Rs 106 crore in FY21.

Blr Brewing Co. has joined hands with the pet care brand, Heads Up For Tails, to introduce 'Barks & Brews' in celebration of National Pet Day.

This event combines bites for humans, special treats for pets, and interactive activities.

This fusion of culinary delights and pet-friendly entertainment ensures a day filled with flavor and vibrant experiences.

Crafted by culinary experts, dishes like the Butter Garlic Prawns and the creamy Thai Green Curry, complemented by the Pull Me Up Tiramisu dessert paired with flavorful cocktails inspired by various states of India, such as sweet Gin-based Ooty, the coffee-infused Chikmagalur paying homage to the birthplace of Indian Coffee, and the Kollam that transports you to the Malabar Coast.

BLR Brewing Co. serves as proof of the ever-changing craft beer scene, demonstrating that innovation has limitless possibilities.

SGF India (Spice Grill Flame) has recently declared its acquisition of Mom's Kitchen, a renowned Chandigarh-based food chain recognized for its genuine home-cooked tastes and welcoming atmosphere in Indian cuisine.

This strategic takeover marks a fresh phase in the trajectories of both establishments, merging their skills to offer unparalleled culinary journeys.

The brand has achieve the mark of setting up more than 100 outlets nationwide stands as proof of the dedication demonstrated by SGF India and Mom’s Kitchen.

SGF acquired Mom's Kitchen for its dedication to offering nutritious, tasty home-cooked meals tailored to individuals residing away from their homes, such as students and working professionals.

This acquisition has broadened the accessibility of Mom's Kitchen's flavors by leveraging SGF India's network for strategic outlet expansion.

Additionally, it has facilitated the introduction of new marketing strategies, leading to a rise in foot traffic, customer interaction, and revenue generation, showcasing their mutual commitment to delivering outstanding culinary experiences.

"We are thrilled to embark on this exciting journey with Mom's Kitchen, as we share a mutual dedication to providing unparalleled culinary experiences. Our partnership underscores the transformative power of collaboration in the culinary realm. Surpassing the milestone of 100+ outlets is a testament to our unwavering commitment to excellence. Together, we are poised for continued success, driven by innovation and a shared passion for gastronomy". said Kewal Ashwini Ahuja, Founder of SGF India (Spice Grill Flame).

 Moving forward, Mom's Kitchen and SGF India have mapped out extensive plans for growth, encompassing intelligent location choices, the evolution of franchise models, menu enhancements, digital presence, and strategic partnerships.

Established in 2017 by Mr. Mahesh Chopra, Mom's Kitchen specializes in offering wholesome meals, addressing a significant gap in the market.

With more than 20 outlets across the country, Mom's Kitchen's focus on delivering nutritious homemade dishes has resonated with diverse customer segments, rendering it a valuable asset within SGF's collection.

Krispy Kreme said its donuts would be available across McDonald's U.S. restaurants by the end of 2026 as the companies expand a pilot project, sending its shares surging 23% on Tuesday.

The companies were testing the program in 160 McDonald's restaurants in the Lexington and Louisville, Kentucky areas as part of the partnership that began in October 2022.

The phased roll-out of the program will begin in the second half of 2024, the companies said.

Krispy Kreme said it would not supply its donuts to any other quick service restaurant in the U.S. through Dec. 31, 2026, as part of the agreement.

The company has been aiming to open its outlets in at least 75,000 points of access such as quick-service restaurants and grocery stores around the world through a hub-and-spoke model.

Krispy Kreme said in February that it ended 2023 with 2,300 more points of access than 2022.

The company's shares were at an eight-month high, and were headed for their highest percentage rise ever, at current levels.

McDonald's has about 14,000 stores in the U.S., and said in December that it planned to open about 10,000 restaurants globally by 2027.

The company has struggled with weak overseas demand at its restaurants as a result of boycott campaigns against the burger giant in some international markets related to the Israel-Hamas conflict, as well as tough macro economic conditions in China.
 

Subko is an innovative brand specializing in artisanal coffee, handcrafted baked goods, and artisanal chocolate from bean to bar, celebrates a major achievement: the completion of a $10 million fundraising round, spearheaded by Nikhil Kamath.

The company now has a post-funding valuation of around $34 million.

“I am deeply impressed by Subko's commitment to showcasing the finest Indian craftsmanship on a global platform. It is paramount that a distinctive Indian brand like Subko leads the way in delivering our unique, curated experiences to the world. My journey with Subko, transitioning from a customer to an investor, has given me unique insights into the brand's evolution and potential. I am eagerly looking forward to witnessing the brand's narrative unfold and flourish in the coming years.” said Nikhil Kamath, Entrepreneur and Investor.

Gourmet popcorn brand Popcorn & Company secures Rs 75 lakh investment in latest episode of Shark Tank India.

The investment comes from Ms. Namita Thapar, Executive Director of Emcure Pharmaceuticals.

Established in 2020 by Vikas Suri, a seasoned professional in the hospitality industry, Popcorn & Company strives to emerge as India's premier gourmet popcorn brand.

With a commitment to sourcing top-quality ingredients and ensuring uniformity, the brand aims to provide customers with an exceptional popcorn experience.

The brand offers a diverse selection of over 12 types of Butterfly and Mushroom popcorns, alongside a varied array of both international and local flavors, Popcorn & Company caters to a wide range of tastes.

The recent injection of funds into Popcorn & Company will be strategically utilized to bolster stock inventory and strengthen marketing initiatives, paving the way for accelerated expansion and a more robust foothold in the market.

 "Our vision is to revolutionize snacking by crafting flavors inspired by India's diverse culinary traditions. Securing this investment is a monumental milestone for us. It's a vote of confidence in our vision, and our team's relentless effort. With the Sharks now part of our journey, we're geared up to take Popcorn & Company to new heights” said Vikas Suri, CEO and Founder, Popcorn & Company.

Their Movie Night Kit represents a novel approach to enjoying popcorn at home, conveniently prepared either in a microwave or pressure cooker.

Premium craft-rum brand Rock Paper Rum secures investment from Shark Tank judge, Vineeta Singh, Co-founder and CEO of Sugar Cosmetics.

Following the successful acquisition of Seed Funding totaling INR 4.5 crore, spearheaded by Mumbai Angels along with notable investors like GSF, Anay Ventures, Ekcle Ventures, and Faad Network, Good Barrel Distillery, the parent company of Rock Paper Rum, has embarked on an exciting venture to secure strategic funding of INR 50 lakhs on Shark Tank India.

This significant milestone marks an exciting new phase for the premium rum brand, positioning itself for both national and international growth opportunities.

The vision of Lalit and the innovative approach of Rock Paper Rum captured the interest of the Sharks on Shark Tank India, resulting in not only securing funding but also gaining a valuable mentor in Vineeta Singh.

With her expertise in establishing a thriving offline business, she will play a crucial role in guiding the brand through the complexities of the alcohol industry.

"We are thrilled to partner with the marquee investors who have placed their trust in us, our aim is definitely to become one of the leading rum brands for the new age Indian consumer. Our selection of rum caters to the modern drinker who is just beginning their journey into the world of craft liquors, as well as those seasoned drinkers in search of unique and refreshing choices. Shark Tank India was an incredible platform to gain national exposure and showcase our commitment to sustainable growth." said Lalit Kalani, the founder of Rock Paper Rum.

With this strategic investment, Rock Paper Rum is poised for rapid expansion. Lalit disclosed, "Our goal is to establish a strong national presence within the upcoming year, extending into pivotal markets such as Goa, Haryana, and Karnataka. Additionally, we have our sights set on international growth, with the ambition of elevating Indian rum onto the global stage."

"Lalit's passion for Rock Paper Rum is contagious! Combined with their delicious flavours and strategic growth plans, I believe this brand is on the right track to reach newer heights in the coming days. " said Shark Tank Judge Vineeta Singh, CEO and Co-Founder of Sugar Cosmetics.

Presently, the brand is committed to utilizing top-quality ingredients and skillfully developing enticing flavor profiles such as Indian Spiced, Coastal White, Zesty Lemon, Roast Coffee, and Tropical Coconut.

This investment will support the doubling of production capacity to meet the increasing demand and bolster the team, while also enabling the implementation of strategic marketing initiatives.

Rock Paper Rum's dedication to innovation extends to venturing into new flavor territories, offering a fresh realm of experiences for rum aficionados.

Third Wave Coffee has announced a significant leadership change. Sushant Goel, the current Chief Executive Officer, will be transitioning to a role on the Board. Meanwhile, Rajat Luthra, previously the CEO of Kentucky Fried Chicken (KFC) India & Nepal under Devyani International Limited, will take over as the new CEO effective from the first quarter of the fiscal year 2024-2025.

Sushant Goel will continue to contribute to the growth and advancement of the rapidly expanding Indian coffee brand, while Rajat Luthra will bring his extensive experience to steer Third Wave Coffee towards its next phase of success.

“As CEO and Co-founder, I have had the privilege of leading the company through its formative years and I am incredibly proud of the journey that we have embarked on. The brand is ready to embark on its next leg of growth. Now, as I transition to the Board, I am excited to continue contributing towards our vision and growth from a different vantage point. Rajat is a veteran in the QSR industry, and I am filled with optimism on what the future holds for Third Wave Coffee under his stewardship.” said Sushant Goel, Co-founder & CEO, Third Wave Coffee.

Since its establishment in 2016, Sushant, alongside co-founders Ayush Bathwal and Anirudh Sharma, has effectively expanded the company to over 100 outlets across India.

Serving as CEO, Sushant played a pivotal role in shaping the company's business strategy and establishing strong connections with investors.

Now, transitioning to a board member role, Goel will persist in directing the company's strategic trajectory and innovating new ventures for Third Wave Coffee.

Rajat Luthra, the recently appointed CEO, brings almost thirty years of substantial experience in the Fast-Moving Consumer Goods (FMCG) and Quick Service Restaurant (QSR) industries.

Over the past decade, he has held the position of CEO at Kentucky Fried Chicken (KFC) India & Nepal, operating under Devyani International Limited.

Since its inception in 2016, Third Wave Coffee has experienced rapid growth, evolving from a single-store roastery in Koramangala to a network of over 100 stores spanning 8 cities throughout India.

Within a brief timeframe, the company has ascended to become one of the foremost coffee brands in India, actively competing with international giants in the market. Notably, Third Wave Coffee recently secured US$ 35 million in Series C funding, with Creaegis and existing investor WestBridge Capital participating in the investment round.

abCoffee has finalized its Series A funding round, amassing $3.4 million USD. Nexus Venture Partners spearheaded the investment, accompanied by ongoing supporter Tanglin Venture Partners.

The capital raised will empower abCoffee to expedite enhancements in its supply chain and technological infrastructure, facilitating the delivery of on-demand coffee beverages at reduced costs and faster turnaround times.

Founded in 2022 by Abhijeet Anand, a graduate of IIT Dhanbad with more than eight years of experience at Schlumberger, a prominent multinational in the oil and gas sector, abCoffee reflects his robust entrepreneurial drive and comprehensive grasp of various business facets. The inception of abCoffee stems from Anand's vision to democratize specialty coffee consumption.

"We are thrilled to partner with Nexus Venture Partners and receive continued support from Tanglin Ventures in our mission to make specialty coffee accessible and enjoyable for everyone in India. We continue to remain extremely capital efficient, leverage supply chain optimization and continue to innovate new products for the masses,” said Abhijeet Anand, Founder & CEO of abCoffee.

“abCoffee's commitment to making specialty coffee accessible to the masses resonated strongly with us. Their innovative tech model, coupled with their focus on high-quality, ethically sourced beans and efficient brewing methods, allows them to offer premium coffee experiences at surprisingly affordable prices. We believe this unique approach has the potential to disrupt the Indian coffee market and make premium coffee beverages a mainstream beverage enjoyed by everyone." said Suvir Sujan, Managing Director at Nexus Venture Partners.

Coffee retains its stature as a global beverage, with the Indian coffee market projected to attain a value of $2.30 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 12.5%.

abCoffee stands out in its ability to leverage this growing demand, presenting premium specialty coffee via its convenient, effective, and pioneering grab-and-go outlets.

Biggies Burger, the leading and rapidly expanding Indian burger chain, has secured Pre-Series A funding at an impressive valuation of Rs 210 Cr.

The majority of the funds will be directed towards strengthening Biggies Burger's team and enhancing its marketing initiatives.

"We are incredibly excited to leverage these resources to further strengthen our brand, build an even more compelling customer experience and accelerate our expansion plans. Our vision is to be the go-to burger destination for every Indian and this pre-series A round brings us one step closer to achieving that dream" said Biraja Rout, Founder of Biggies Burger.

With 130 stores currently in operation and an additional 160 stores in the pipeline, the brand is experiencing rapid growth.

In just 26 months, Biggies Burger has expanded its store count fourfold, from 37 in October 2021 to 130 by December 2023, achieving a noteworthy annual revenue run rate of Rs 103 crore.

United Spirits Ltd, a liquor manufacturer controlled by Diageo, announced a significant 63.5% increase in its consolidated net profit, reaching Rs 350.2 crore for the third quarter concluding in December 2023.

This marks a substantial rise from the Rs 214.2 crore net profit recorded in the corresponding October-December quarter of the previous year, as per the regulatory filing by United Spirits Ltd (USL).

The company's revenue from operations witnessed a 5.32% increase, reaching Rs 6,962.0 crore in the reviewed quarter. In comparison, it stood at Rs 6,609.8 crore during the same period in the preceding fiscal year.

The increase in sales was attributed to the ongoing emphasis on premiumization and the sustained demand from resilient consumers, as stated in the earnings report by USL.

During the December quarter, United Spirits Ltd (USL) saw a marginal 3.6% increase in total expenses, reaching Rs 6,554.7 crore.

USL's overall revenue, encompassing brands such as McDowell's, Royal Challenge, Signature, Johnnie Walker, and Black Dog, saw a growth of 5.77%, reaching Rs 7,014.1 crore.

Hina Nagarajan, the CEO and MD of USL, stated "Despite a challenging macro environment, we have achieved a resilient quarter. Although the demand momentum in the sequential period was somewhat subdued, it is noteworthy that the premiumization trend persists."

The company maintained strong consumer engagement during a series of festivals, the cricket World Cup, and the peak wedding season. The emphasis on ongoing enhancement and efficiency in the value chain is evident in the company's performance, she stated.

Regarding the future prospects, Nagarajan expressed, "As we look forward, we maintain a prudent optimism about growth, supported by consistent investments in our brands, confidence in our innovation and renovation initiatives, and the enduring potential of the Indian consumer over the long term."

United Spirits Ltd shares concluded at Rs 1,107.85 each on the BSE, marking a marginal 0.07% decrease from the previous closing value.

Starbucks India joins forces with Manish Malhotra to unveil an exclusive line of limited-edition lifestyle drinkware, available only in India.

This collection aims to honor Starbucks' commitment to enhancing the everyday coffee-drinking experience, personalized for consumers and infused with the distinctive craftsmanship of the renowned fashion designer.

“My aim was to design something deeply rooted in India while complementing the iconic tradition that Starbucks is renowned for. Kashmir holds a special place in my heart, serving as both a personal connection and a cornerstone of my brands’ identity. In crafting a signature collection for my collaboration with Starbucks, my aim was to seamlessly integrate the beauty and craftsmanship of Kashmir into everyday moments. The decision to use gold as a prominent colour in my designs’ stems from its powerful statement and resonance with my brand’s aesthetic. Gold, much like the intricate art and craft of Kashmir, embodies a sense of opulence and timelessness,” said Manish Malhotra.

Over time, Starbucks has engaged in global collaborations with renowned brands, presenting a range of collectibles that provide consumers with access to international style, glamour, and fashion.

The partnership with Manish Malhotra is set to deliver an unparalleled experience for enthusiasts of coffee, art, design, and fashion alike.

The collection comprises stoneware ceramic mugs, stainless steel tumblers, and reusable cups. Inspired by Kashmiri motifs, the design features traditional floral techniques rooted in the cultural heritage of the region.

Incorporating the signature Kashmiri embroidery from the Manish Malhotra brand, the cups and tumblers showcase intricate patterns with cultural significance.

The color scheme incorporates black, gold, white, and carmine, seamlessly blending traditional craftsmanship with contemporary style.

“At TATA Starbucks, we have always believed in the power of design, art and community in sharing elevated experiences for coffee-lovers across India. From our stores to our packaging – each touchpoint at Starbucks is testament to this thought. As we continue to lead growth in India, we are thrilled to partner with Manish Malhotra. Mr. Malhotra is one of India’s most prominent voices in fashion and has played a pivotal role in the country’s approach to style. We hope this collaboration elevates our consumer’s daily cup of coffee with Manish Malhotra’s inimitable design language,” said Sushant Dash, CEO, TATA Starbucks.

This collaboration emphasizes the artistry and natural influences from Kashmir, enhancing the coffee experience by seamlessly merging global aesthetics with local heritage.

Third Wave Coffee and Ironhill India have teamed up to create a unique and inventive experience for coffee and beer lovers.

With this partnership, the companies will offer customers a blend of high-quality coffee and craft beer.

"Our collaboration with Ironhill represents a convergence of passion and craftsmanship. We set out to create a beverage that transcends boundaries, offering patrons an unparalleled sensory journey. The result is a stout that marries the boldness of quality coffee with the artistry of craft beer, delivering a truly exceptional drinking experience." said Anirudh Sharma, Co-founder, Third Wave Coffee.

Initially accessible in Ironhill Bangalore and subsequently in Hyderabad, this partnership arises from a mutual acknowledgment that the varied tastes of beer enthusiasts warrant a distinctive fusion, uniting the luxurious notes of premium coffee with the artistry of handcrafted beer.

"At Ironhill, we have always strived to push boundaries and create unique offerings for our customers. Teaming up with Third Wave allows us to delve into uncharted territories, introducing a blend of flavors that hasn't been explored before. We are confident that this collaboration will resonate with our patrons who appreciate quality and innovation." said Teja Chekuri, Co-Founder and Managing Partner, Ironhill India.  

The outcome is a menu featuring a carefully chosen array of beers infused with coffee, each meticulously crafted to provide a unique flavor.

This collaboration marks a new chapter in the brewing landscape, where coffee and beer aficionados can come together to savor the best of both worlds.

Wow! Momo Foods achieves a record-breaking Rs 350 crore investment from Khazanah Nasional Berhad, Malaysia's sovereign wealth fund.

The funding will involve a combination of primary capital injection and the acquisition of shares from initial backers, namely Indian Angel Network and Lighthouse Funds.

As part of this funding round, Oaks Asset Management, an existing investor, has further contributed Rs 60 crore to support the company's growth.

The funding round will facilitate the exit of angel investors associated with The Indian Angel Network (IAN) and partially exit the series A investor, Lighthouse Funds.

The company aims to bring about significant changes in the food sector as it moves forward.

Established in August 2008, Wow! Momo manages a network of 630 stores spread across over 35 cities. Approximately one-third of these stores are compact formats or kiosks situated in malls, tech parks, and hypermarkets.

The brand has successfully distinguished itself in a market with limited competition on a national scale, capitalizing on the widespread appeal of its cuisine in India. The company oversees three sub-brands: Wow! Momo, Wow! China, and Wow! Chicken.

The main funding will drive the brand's growth and expansion, enhance distribution channels, and support research and development for the FMCG arm.

This division focuses on selling packaged frozen ready-to-eat momos through retail stores and e-commerce platforms.

Daryani expressed confidence that the chain is on schedule to extend its presence to an additional 100 cities, aiming for a network of more than 1,500 stores within the next three years.

Company executives highlighted that the recent funding round underscores a resurgence in investor interest in the food services sector, despite increased competition and the entry of global brands into the Indian market.

According to Icra, fast-food and quick-service restaurant companies in India are projected to incorporate approximately 2,300 new stores from fiscal year 2023 to fiscal year 2025.

They are expected to allocate an estimated capital expenditure of Rs 5,800 crore, leveraging the growing affordability and heightened consumer demand for fast foods.

Having achieved a post-money valuation exceeding Rs 2,400 crore, the chain has garnered Rs 500 crore in total funding, excluding the ongoing round.

The founders, promoters, and employees collectively own 45% of the ownership stake in the company.

Gurgaon based startup, Radiohead Brands is renowned for its flagship brand Jimmy’s®, has declared the conclusion of its Pre-Series A round, totaling 35 crore.

The funding was spearheaded by Prath Ventures, Capital Ventures, and Illeyrium Ventures, attracting notable participation from angel investors such as Neel Bahl and Sandeep Aggarwal from Droop (formerly associated with ShopClues).

This round also welcomed contributions from existing investors.

“The company’s products under Jimmy's brand have huge customer love and are well accepted by the trade. They have now entered the rapidly expanding market of Energy drinks through the introduction of Hustle Energy drink. We believe the company is set to emerge as a leading premium beverage player in a few years with a diversified portfolio of brands and products.” said Piyush Goenka, Founder, Prath Ventures.

The company recently revealed its evolution into a diversified beverage brand, extending its product range beyond Jimmy’s® Cocktails and Sparkling Mixers.

As a part of this initiative, the company introduced 'Hustle' Energy drink, aiming to revolutionize the rapidly growing Energy Drinks sector.

This strategic expansion of their portfolio mirrors the brand's aspiration to cultivate the premium beverage market in India.

Established in 2019 by Ankur Bhatia & Nitin Bhardwaj, the initial brand, Jimmy’s®, asserts its leadership among startups in its sector, having served more than 12 million drinks in FY’23.

“I want to welcome our new investors and thank our existing investors for their continued faith in us. For this round we had very high interest from prominent VCs ranging from $8M - $10M however we weren’t able to accept that as we do not believe in a high burn high growth business model. We have an eclectic mix of people on our cap table who like us, believe in a sustainable and profitable approach to building our brands.” said Ankur Bhatia, Founder and CEO Radiohead Brands.

In March 2022, Radiohead Brands secured 14 crore in a funding round led by Roots Ventures as an extension of their Pre-Series A funding.

To facilitate the launch of their new Energy Drink, the company expanded their Pre-Series A by an additional 20 crore, conducting this extension in two phases: the initial one occurring in June 2023, followed by the most recent one.

The company aims to venture into various untapped market segments within the beverage industry over the coming years.

The company's goal is to achieve a revenue run-rate of 100 crore by the next year, with a broader ambition of becoming a 1000 crore revenue enterprise within the decade.

Lite Bite Foods has introduced 10 new openings nationwide in December.

This signifies a notable expansion, particularly targeting tier 2 cities like Kochi, Mohali, and Faridabad.

“Our relentless pursuit isn't just about growth; it's a commitment to redefining culinary experiences. Each launch signifies our dedication to pushing boundaries and creating exceptional moments.” said Rohit Aggarwal, Director of Lite Bite Foods Pvt Ltd.

The company has firmly established its presence in major cities such as Delhi NCR, Chennai, Mumbai, Pune, Bengaluru, Kochi, Ahmedabad, Indore, Lucknow, Kanpur, Mohali, and internationally in Singapore, Washington DC, Abu Dhabi, Dubai, and Bangkok.

Currently, they manage 44 Punjab Grill outlets, 17 YouMee outlets, 32 Street Food by Punjab Grill branches, and 27 Asia 7 establishments.

Brand is expanding into crucial markets such as Bangalore, Kochi, and Gurgaon, along with their effective establishment in tier 2 cities, highlights LBF's adaptability and strategic acumen.

YouMee's penetration into tier 2 cities extends the pleasure of Sushi, Dim sums, and Ramen, bringing delight to every nook of those urban regions.

These launches emphasize the company's vision for extensive expansion and meeting customer needs.

Kitchens@ is a cloud kitchen startup, secured $65 million from Finnest, a London-based private equity firm, in its Series C funding round.

Kitchens@ announced in a press release that the raised funds will support the expansion of their hybrid model, Dinerium, which combines offline and online components.

Prior to this funding round, Kitchens@ had secured $17.5 million from investors such as Trifecta, Beenext, DG Ventures, and other contributors.

Kitchens@ is headquartered in Bengaluru, offers comprehensive solutions to F&B brands seeking expansion, providing a range of services from infrastructure and technology to operational support.

Collaborating with various food brands like Domino’s, Subway, Taco Bell, Nando’s, ChicKing, and national chains such as ITC, Mainland China, and Barbeque Nation, it facilitates their growth.

In May 2022, Kitchens@ revealed its integration with Kitchens Centre, a company based in Delhi.

Earlier this year, it completed an acquisition of Swiggy’s Access Kitchens business through a share swap agreement.

According to Kitchens@ CEO Junaiz Kizhakkayil, this acquisition will aid in the company's expansion across four cities, encompassing 52 locations and over 700 kitchens.

The company mentioned that the acquisition would result in a combined yearly Gross Merchandise Value (GMV) of $65 million (approximately Rs 520 crore) for Kitchens@.

Additionally, Kitchens@ is striving to achieve a revenue target of $100 million (around Rs 800 crore) within the upcoming six months.

Although Kitchens@ hasn't submitted its annual financial report for the fiscal year 2022-2023, it documented a revenue of Rs 37.37 crore in the preceding fiscal year. However, it incurred a loss of Rs 43.15 crore during the same period.

This funding round marks a significant milestone for a cloud kitchen brand in 2023. In April, Curefoods secured $36.5 million, with primary backing from Three State Ventures, spearheaded by Binny Bansal. Notably, Rebel Foods emerged as the dominant contender in this sector, achieving unicorn status following a $175 million funding round in October 2021.

Finnest, the primary investor, is a growth investment firm led by Biswanath Patnaik, known for supporting early-stage investments.

The firm directs its investments towards startups concentrated in banking, healthcare, consumer products, fintech, and renewable sectors.

CLEAR Premium Water declares its acquisition of a majority share in KELZAI Volcanic Water, renowned for its unique natural mineral water derived from volcanic springs.

This acquisition signifies a significant achievement for CLEAR Premium Water as it sets its direction to broaden its range of products and lead innovation within the bottled water sector.

“Our association with KELZAI Volcanic Water underscores our dedication to meeting the increasing demand for natural mineral water. With the strategic plant location, we aim to reach a broader audience, leveraging Clear's expertise, extensive network, and KELZAI’s established brand identity. This alliance is set to transform KELZAI’s market presence, ensuring remarkable growth and establishing dominance in the luxury water segment. This partnership enhances our natural mineral water offerings, positioning us to deliver exceptional value and impeccable service to our customers.” said Nayan Shah, the visionary Founder & CEO of CLEAR Premium Water.

The rise of upscale dining and the emergence of unique culinary adventures have increased the desire for natural mineral water.

KELZAI is ready to enhance the dining experience in these exclusive venues while catering to a wider luxury clientele across cafes, restaurants, institutions, multiplexes, hotels, and similar settings.

As per the acquisition agreement, CLEAR Premium Water's parent company, Energy Beverages Private Limited, will exclusively handle the distribution and marketing of KELZAI Volcanic Water.

Leveraging its strong network and nationwide reach across India, this partnership emphasizes a joint commitment to providing top-tier natural mineral water.

It pledges outstanding service and aims to boost market presence for both CLEAR Premium Water and KELZAI Volcanic Water.

The collaboration between CLEAR Premium Water and KELZAI Volcanic Water marks a significant shift in the industry, offering a powerful blend of skill, creativity, and steadfast dedication to sustainability and excellence.

This partnership aims to enthrall the market and strengthen CLEAR Premium Water's standing as a leading force in the bottled water sector.

KELZAI Volcanic Water can be found in environmentally friendly PET bottles of 200ml, 500ml, and 1 liter sizes, as well as in glass bottles of 300ml, 500ml, and 750ml (available in Still & Sparkling varieties).

Hogr, an innovative social platform facilitating restaurant and food exploration, secured Rs. 10 Crores in seed funding, spearheaded by Curefoods, a major player in India's food industry housing renowned brands like EatFit and Cakezone.

This investment will drive Hogr's growth, supporting its app expansion, feature enhancements, and the introduction of updates for an elevated user journey.

"We've noticed that HOGR addresses and streamlines the challenge of discovering new dishes and restaurants, as well as forms a food community via peer-to-peer recommendations. This aspect intrigued us and motivated our decision to invest in this app." said Ankit Nagori, Founder of Curefoods India.

Hogr allows users to explore fresh dining experiences by receiving personalized suggestions from their network comprising contacts, family, friends, and fellow food enthusiasts who share similar taste preferences.

The platform provides customized recommendations, empowering users to make informed dining decisions and expand their food network effortlessly through a user-friendly recommendation system.

"We see HOGR as more than just an app. We strive to create a community where food enthusiasts come together to share the joy of discovering new dishes and places to eat, fostering social connections through this platform.  We are elated to have found synergies with Curefood to partner with in our growth journey.” said Jugul Thachery, Founder and CEO, HOGR.

Bangalore based brand, HOGR seeks to revolutionize the conventional method of finding new restaurants and dishes.

The app streamlines the exploration of novel culinary experiences, making it easier for individuals to discover and share recommendations within a social circle of food enthusiasts.

Coca-Cola India is expanding into the alcohol beverage sector.

The company has initiated trial runs of Lemon-Dou, a global alcoholic ready-to-drink beverage, in regions including Goa and parts of Maharashtra.

Coca-Cola India, the division of The Coca-Cola Company operating within India, is exploring the alcohol beverage market.

They've initiated trial runs of Lemon-Dou, the multinational company's worldwide alcoholic ready-to-drink beverage, in select areas of Goa and Maharashtra.

Lemon-Dou, known as 'Chuhai,' is an alcoholic cocktail with roots originating from Japan. During its initial test launch, it's being sold at Rs 230 for a 250 ml can.

According to a media report, Lemon-Dou, introduced in Japan in 2018, served as Coca-Cola's inaugural ready-to-drink alcoholic beverage, aligning with its focus as a beverage company.

Besides Japan and India, Lemon-Duo is set to be accessible in China and the Philippines.

In October this year, Coca-Cola teamed up with Pernod Ricard, a global spirits producer, in a worldwide partnership to introduce Absolut vodka and Sprite as a ready-to-drink pre-mixed cocktail by 2024.

The rollout will commence in the UK, Netherlands, Spain, and Germany initially. Referred to as Absolut & Sprite, the product will consist of Pernod's Absolut high-quality vodka combined with Coca-Cola's lemon-lime soft drinks, Sprite and Sprite Zero Sugar, as emphasized in a report.

Flower Aura has introduced its cake collection on Swiggy and Zomato.

The partnership between Flower Aura and these platforms is geared towards making their diverse range of cakes more accessible to customers, aiming to improve convenience and reach.

Through this collaboration, Flower Aura aims to simplify the ordering process for a variety of treats like Red Velvet Jar Cake, Vanilla Blueberry Cake, and Black Forest Mini Cake, among others.

“Through this alliance, we've exponentially expanded our reach, connecting with a broader customer base to cater to every celebration. Our latest collaboration with Zomato and Swiggy perfectly aligns with our dedication to making our sweet indulgences more accessible. Now, anyone can conveniently order their favourite desserts from the comfort of home, at any time they desire. This strategic partnership promises not just to broaden our clientele but also to revolutionize our business operations, marking a remarkable milestone in our journey.” said Shrey Sehgal, Founder & CEO, Flower Aura.

Flower Aura recently inaugurated a 26,000-square-foot central kitchen in Delhi NCR, a significant step to meet the rising demand from Swiggy/Zomato users.

Flower Aura excels in creating luxurious cakes and desserts. Their alliance with two prominent food delivery platforms is poised to enhance convenience by ensuring prompt doorstep delivery of their exquisite range within a swift 30-minute timeframe.

This partnership seamlessly aligns with their recent efforts to make their diverse product range more accessible.

Rajasthan Royals, a franchise under Royals Sports Group, has unveiled a comprehensive digital-focused alliance with Curefoods, a prominent F&B brand collective in India specializing in healthy food.

This partnership designates Curefoods as the official partner of the Royals, heralding the start of a strategic venture aimed at transforming fan and consumer involvement throughout the 2024 season.

"We are excited to announce this unique partnership with Curefoods which will unlock the power of digital platforms and help us connect with our fans and their consumers at a deeper level. This digital-first partnership will create customer delight at scale through unique experiences for our fans by leveraging our shared values of innovation and technology." said Jake Lush McCrum, Chief Executive Officer, Rajasthan Royals.

Curefoods is renowned for its dedication to advocating healthy lifestyles, perfectly matches Rajasthan Royals' holistic approach to well-being.

The collaboration intends to motivate supporters to embrace healthier living practices and make educated decisions, encompassing both dietary preferences and physical activities.

“We are thrilled to be associating with Rajasthan Royals for the 2024 season. With this association, we want to promote the importance on healthy eating using the brilliant platform which Rajasthan Royals provides. This partnership will help us reach out to millions of potential consumers who are looking to start their health journey.” said Ankit Nagori, Founder, Curefoods.

During the 2024 season, Rajasthan Royals and Curefoods will team up for various ventures, encompassing unique digital content, engaging fan interactions, and health-focused campaigns.

Through the utilization of technology and digital mediums, both entities aim to creatively connect with fans, elevating overall fan involvement and interaction.

QSR Chain KFC has achieved a significant milestone by reaching its 1,000th restaurant in India.

The brand made its debut in the country back in 1995. KFC operates in India through franchise partnerships with Devyani International Ltd and Sapphire Foods India Ltd.

In the upcoming phase of its operations in India, KFC is positive about contributing to the country's economy by creating more than 100,000 jobs, bolstering the nation's growth prospects," stated the company on Tuesday.

Moksh Chopra, General Manager of KFC India & Partner Countries, expressed pride in KFC's role in India's progress alongside franchise partners. He highlighted KFC's global identity with a strong local connection, emphasizing the commitment to growing hand in hand with the nation. Chopra commended the restaurant teams, particularly those comprising specially abled individuals, for their crucial role in KFC's journey.

Scandalous Foods is an all-in-one destination focused on establishing a new market for post-meal impulse purchases of Indian sweets in the restaurant and catering sector, has secured Rs 1.6 Crore in its ongoing pre-seed funding phase.

The backing comes from Anthill Angel Fund, EvolveX, Value360, and Sapphireink Ventures, with angel investors like Sagar Daryani, the founder of Wow! Momo, Kamnaa Aggrawal, Vikas Aggarwal, the Co-founder of We Founder Circle and former executive of IndiaMart, and the renowned Chef Harpal Singh Sokhi.

The firm intends to allocate a substantial sum towards enlarging its Nasik production facility and implementing automation.

Additionally, the funding will support expanding its current 250 touchpoints to 2000 within a year.

Their strategy includes broadening institutional sales across more than five cities and intensifying operations in Mumbai, Thane, and Nasik. Moreover, they aim to invest in product innovation, creating additional Indian desserts with extended shelf life and delectable flavors.

As a B2B enterprise, Scandalous Foods aims to target the HoReCa industry.

Utilizing its range of classic Indian sweets, Scandalous Foods has entered a $20 Billion market niche focused on post-meal impulse purchases for traditional mithais.

Expanding further, the brand has introduced individual servings of mithais in restaurants and hotels. Their future direction involves venturing into ethnic bars, cookies, cupcakes, and ultimately, single-serve mithai sachets.

 “We have embarked on an exciting journey to revolutionize the culinary landscape. With a fresh infusion of funds, we will expand our production facility and embrace automation for efficiency. Our commitment to innovation is showcased in new product development, catering to diverse tastes. We're planning to break new ground by entering wedding and corporate catering channels, extending our reach to smaller QSRs. Fueled by B2B2C aspirations, we're piloting a 'wholesale sweet shop' under our brand. This funding empowers us to sweeten moments, one delectable venture at a time." said Sanket S, CEO & CPO, Scandalous Foods.

Within a year of establishment, Scandalous Foods accomplished an impressive feat by selling close to 1.4 million pieces of sweets.

They debunk the notion that frozen food compromises taste, highlighting that when handled properly, frozen items maintain 97% of their freshness, texture, and flavor, presenting a secure option. Catering to the HoReCa industry, the company tackles persistent issues of wastage and theft by offering sweets with an extensive shelf life of six months.

Acknowledging the untapped potential of desserts on restaurant menus hindered by the need for skilled labor, Scandalous Foods provides a seamless solution. Their sweets, designed for zero wastage, only require thawing and serving to customers, eliminating extra capital and operational costs.

With competitive pricing, restaurants can markup by 3x, ensuring substantial gross margins. The company's success unfolds through consistent month-over-month growth, witnessing a remarkable 10x surge in both customer base and monthly orders across three quarters.

Jubilant FoodWorks Limited), India’s leading foodservice company, declares the effective enforcement of India’s inaugural "No Antibiotics Ever" (NAE) policy in 2023 for managing the health of poultry birds.

This pioneering initiative underscores JFL's dedication to food safety, animal well-being, and seeks to tackle worldwide apprehensions regarding Antimicrobial Resistance (AMR).

Since November 2017, the company has been earnestly involved in formulating an antibiotics policy aimed at combating the inappropriate use of antibiotics in poultry procurement.

The effective execution of the three outlined stages has prioritized ethical standards, confining antibiotic usage to therapeutic intents supervised by veterinarians, thereby eradicating non-therapeutic utilization for promoting growth.

“‘Jubilant for All’ represents the Company’s commitment to creating long-lasting value that delights not only our customers but all those involved in the process. As the pioneer of instituting an NAE policy in the world of QSR, moving beyond antibiotics isn't just a policy; it's a resounding affirmation of our values and an essential step towards delivering high-quality, safe, and ethically sourced products to our discerning consumers.” said  Avinash Kant Kumar, President – Value Chain Engineering, Hong’s Kitchen, International Business and CSR- of Jubilant FoodWorks Limited.

In order to reach the "No Antibiotics Ever", the company has established a rigorous Surveillance and Oversight System that extends across farms, slaughterhouses, and processing facilities.

This thorough system, managed by qualified veterinarians, ensures stringent compliance with the antibiotic usage policy. Additionally, the company has accomplished the exceptional aspect of 'Farm Traceability,' affirming its dedication to conscientious sourcing and vigilant product monitoring.

Prosus, Swiggy's major investor, revealed that in the first half of Financial Year 2023-24 (H1 FY24), Swiggy experienced a 17% growth in its food delivery segment, achieving a gross merchandise value (GMV) of $1.43 billion.

Prosus, highlighted in its yearly financial report, attributed Swiggy's success to an increase in active users, which fueled a double-digit surge in orders along with a rise in the average order value due to inflation.

The Netherlands-based global assets division of the South African conglomerate Naspers holds a 32.7% share in Swiggy.

In its financial results for H1 FY24, Zomato, a Gurugram-based competitor of Swiggy, reported a gross merchandise value (GMV) of approximately $1.84 billion, surpassing Swiggy's performance in the same period.

Swiggy's gross merchandise value (GMV) continues to exhibit growth at 28%, supported by improving operational metrics.

During H1 FY24, the food delivery platform's trading loss decreased to $208 million, a notable improvement from the $321 million reported in the corresponding period last year.

Prosus stated that during the first half of 2024, the fundamental EBITDA losses in food delivery significantly decreased by 89%. This reduction primarily stemmed from enhancements in contribution margins and operational efficiencies. Overall, this reflects a customer inclination to pay for convenience and restaurants' eagerness to promote for expansion, as per Prosus' interpretation regarding earnings before interest, taxes, depreciation, and amortization (EBITDA).

Instamart, Swiggy's fast delivery service operating in 25 Indian cities, experienced significant advancements as a result of customer-driven order growth.

The size of purchases notably increased well above the rate of inflation. By June 2023, Instamart expanded its store presence by 19%, thereby significantly contributing to a 63% growth in its gross merchandise value (GMV).

In the first half of the fiscal year 2023-24, Instamart experienced a substantial 75% reduction in losses due to its increased scale and enhanced profitability.

Prosus highlighted that a wider range of products, a more concentrated store network, and quicker delivery times have consistently supported the acquisition and retention of customers.

Earlier this year, Swiggy's CEO, Sriharsha Majety, mentioned that the food delivery segment achieved profitability during the March quarter, factoring in corporate expenses and excluding employee stock options.

In October, Invesco, a U.S. fund manager, raised the Bengaluru-based company's valuation to $7.85 billion (around Rs 65,000 crore).

This revision followed two decreases earlier in 2023, marking Invesco as the second investor this year to increase the valuation, marking a surge of almost 43% from the previous $5.5 billion valuation provided by Invesco as of July 31.

In August, Baron Capital, a US-based asset management firm, increased the food aggregator's valuation by 33.9% to $8.54 billion.

On the other hand, Zomato achieved its first profits of Rs 2 crore in Q1 FY24. Subsequently, the company recorded its second consecutive quarter of consolidated net profit, reaching Rs 36 crore in Q2 FY24.

Radiohead Brands is a rapidly expanding premium beverage startup, has made a move by entering the rapidly expanding market of "Energy Drinks" through the introduction of Hustle Drink.

Hustle Energy Drink will debut in a sole traditional flavor, offered at a rate of Rs 60 for a 250 ml high-quality can.

Drink is currently produced in Dubai, the product has identical composition, impact, and flavor to top global energy drink brands retailing at over Rs 110.

During the launch's initial stage, Hustle Energy Drink can be found at prominent retail stores in the top 8 metropolitan cities.

Radiohead Brands' energy drink is poised for direct competition with Red Bull and Monster, yet it is priced lower, ranging from Rs 110 to Rs 125, in contrast to Hustle Energy Drink.

“We have already established ourselves as the market leader in the new Mixers Space with our first brand Jimmy’s. With Hustle now we intend to expand our distribution footprint to get a foothold in one of India’s fastest growing beverage category.” said Ankur Bhatia, CEO Radiohead Brands.

As per Euromonitor International, a research firm, the energy drinks sector expanded by 12.6% in overall value from 2021 to 2022, reaching Rs 16,488.6 million last year.

This surge marked an approximate 35% leap from the figures seen in 2020. Regarding quantities sold, it measured around 33.5 million liters compared to 30.4 million liters in 2021 and 26 million liters in 2020.

 A significant catalyst for this growth is the integration of the category by major cola companies, emphasizing PET bottle packaging and more accessible pricing, bringing the category to the forefront.

Jimmy's Cocktails emerged as a frontrunner in its category, generating Rs 34 crore in Net Revenue during FY2023.

Recently, the company secured Rs 11 crore in funding during a Pre Series A round, spearheaded by Prath Ventures and backed by prominent investors such as Vijay Shekhar Sharma from Paytm.

Radiohead Brands is strategically crafting an array of contemporary beverages priced between Rs 50 to Rs 100, aiming to establish itself as a Rs 1000 crore enterprise within this decade.

The latest venture in Bhuj assures a wide array of top amenities to cater to the guests for varied preferences.

Hotel has 38 beautifully crafted rooms, a round-the-clock restaurant offering diverse cuisines, and the city's indoor event space, this hotel aims to redefine Bhuj's hospitality standards.

“We eagerly anticipate the beginning of our partnership in the historic walled city of India and are confident that our collective journey will be marked by excellence and unparalleled experiences.” said Mr Saurabh Gahoi, VP India, Ramee Group.

The broad vision of Ramee Group stands ready to create significant job openings, energize local economies, and solidify India's position as a leading global destination for premier hospitality and entertainment.

This growth strategy signifies a stride towards crafting a fresh epoch of luxury and hospitality in India's market.

Tilaknagar Industries Limited is a leading Indian Made Foreign Liquor Manufacturer (IMFL) announced the unveiling of Mansion House Chambers Brandy, a premium variant of its flagship brand, Mansion House.

The latest creation from Tilaknagar Industries is one of India’s largest manufacturers of premium brandy that has been made available in Puducherry, India. This will be followed by launch in other key southern markets.

“We are immensely passionate about brandy. Our latest premium offering, Mansion House Chambers, is born out of our unrelenting focus on innovation to diversify our portfolio and revitalize the brandy segment.” said, Mr Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.

In the first six months of the current financial year, Tilaknagar Industries grew 28 per cent, led by brandy as against a 3 to 4 per cent growth for the overall IMFL industry in the same period, Mr Dahanukar added.

The company’s sales volumes increased to 53.6 lakh cases in the half-year ended September 2023 as against 42 lakh cases in the corresponding period a year ago.

“Identifying need-gaps and then introducing superior products has helped us establish price-laddering for brandy, a concept that was non-existent for this category. Mansion House Chambers is a reiteration of our strategy to move up the value chain and shine a spotlight on the brandy segment.” said, Mr Ahmed Rahimtoola, Chief Marketing Officer, Tilaknagar Industries.

Recently, Tilaknagar Industries introduced a host of premium products under its Mansion House brand umbrella.

This included the launch of India’s first premium flavoured brandy (Flandy) and Mansion House Reserve French-Style Brandy.

In September 2023, Tilaknagar Industries’ Mansion House brand sold more than 40 lakh cases.

India happens to be one of the largest markets for brandy, globally. Under the IMFL category, brandy continues to hold its position as the second-largest product segment, accounting for over 20 per cent of the total IMFL sector by volume.

Fudr, the F&B SaaS platform has unveiled a strategic partnership with Barista.

Under this collaboration, Barista is set to introduce a rewards-based food ordering and payment app in the third quarter of 2023.

Fudr has also inked a deal with Massive Restaurants, owned by Zorawar Kalra, which oversees more than 20 well-known brands such as Farzi Cafe, Pa Pa Ya, and Louis Burger, to create a comprehensive super app for all their F&B ventures.

Furthermore, Hyderabad-based Ohris, a renowned F&B chain, has joined forces to launch an app designed for self-pickup, ordering, and loyalty programs tailored to their specialty coffee brand, Qaffiene.

“I am happy to share that we have signed up a mandate with Fudr for developing our loyalty app considering the proactive approach of the team and detailed insights provided during the shortlisting process. We are excited to launch our loyalty app soon with the Fudr team and I am sure this will enable more seamless interactions with our guests and create a more rewarding environment for them as they engage with us across multiple stores.” said Rajat Agrawal, CEO, Barista Coffee.

Fudr, established by a team of technology and marketing experts including Aayush Khandpur, Prem Lokesh, Shobhit Marwah, and Akshat Khandpur, specializes in assisting F&B brands in India in constructing their app ecosystems.

They achieve this through their SaaS-based application builder stack, which seamlessly integrates with point-of-sale (POS) and payment systems.

 “Fudr is not merely an app but an investment in the future of restaurant chains. In this AI-driven era, we believe technologies should focus on direct connection with their customers, rather than going through aggregators. That's why we're creating a Unified Restaurant Interface (URI). It's a hub for all customer interactions and acts as a flywheel, using past data to continually refine and personalise experiences. With our strategic partnership with Barista, we aim to elevate the brand presence and cultivate meaningful connections along with maximising customer satisfaction & loyalty.” said Aayush Khandpur, Co-founder & CEO, Fudr.

Through these partnerships, Fudr aims to establish a robust digital infrastructure tailored for medium and large restaurant brands. Their goal is to assist these brands in implementing advanced technological solutions to launch their own apps, enhancing customer engagement and retention, all while reducing their reliance on the dominant duopoly of food aggregator apps.

Fudr has seen consistent growth in the past year with serving more than 20 restaurant chains across India. Their  plan is to onboard an additional 150 restaurant brands within the next 18 to 24 months.

Fudr intends to expand globally by entering key markets such as South East Asia and the MENA regions, while also diversifying its platform offerings into other rapidly growing sectors like direct-to-consumer (D2C), salons, and wellness within India.

As per industry insights, the Software-as-a-Service (SaaS) market in India is on an impressive growth trajectory, with projections indicating that it will surge to an annual recurring revenue (ARR) of $50 billion by 2030.

This would represent nearly a fourfold increase from its current size. The SaaS ecosystem in India is undeniably evolving and maturing, even in the present market conditions.

This growth offers FUDR a substantial market to capitalize on and develop its presence.

Zomato, the online food delivery platform announced a consolidated profit of Rs 36 crore for the second quarter ending in September 2023, propelled by robust growth in its revenue.

In the same quarter of the previous financial year, the company had posted a loss of Rs 251 crore.

During the current quarter, the revenue from operations amounted to Rs 2,848 crore, marking a significant increase from the Rs 1,661 crore recorded in the corresponding period last year.

As per a regulatory filing, the total expenses for the quarter being reviewed amounted to Rs 3,039 crore, while in the same quarter of the previous year, it was Rs 2,092 crore. Additionally, the company's board has granted approval for the sale of its complete 30% voting rights in ZMT Europe LDA, an associate firm situated in Portugal, for a total sale value of approximately 1.80 lakh euros (equivalent to approximately Rs 1,59,45,300).

In a letter addressed to shareholders, the company also shared that its quick commerce business, Blinkit, has achieved a positive contribution for the first time throughout the entire quarter.

The contribution margin, expressed as a percentage of the gross order value (GOV) in the business, has shown a positive shift from -7.3 percent in Q2FY23 (when the business was acquired) to a current 1.3 percent in Q2FY24.

Deepinder Goyal, Founder and CEO said that the strong growth trend observed in Q1FY24 has persisted into Q2FY24, propelled by robust expansion across all of the company's operations. He also highlighted the company's profitability, mentioning that they achieved their second consecutive profitable quarter, with an Adjusted EBITDA of Rs 41 crore. This represents a substantial improvement compared to the Rs 12 crore profit in the previous quarter (Q1FY24) and a significant turnaround from the loss of Rs 192 crore during the same quarter last year (Q2FY23).

EBITDA, which stands for Earnings Before Interest, Taxes, Depreciation, and Amortization, is a metric employed to evaluate a company's operational efficiency.

Zomato's CFO, Akshant Goyal, expressed that they anticipate a moderate quarter-on-quarter (QoQ) growth in Gross Order Value (GOV) for food delivery in the upcoming quarter, roughly in the high single digits. This growth is expected to result in approximately 25-30 percent year-on-year (YoY) expansion in GOV.

In reference to the recently introduced platform fee, Akshant mentioned that, beginning in Q2FY24, all customers, including Zomato Gold members, are now incurring a modest platform fee, typically ranging from Rs 2 to Rs 5 per order. This fee is implemented to improve the company's long-term economic sustainability while ensuring that their services remain affordable for customers.

Albinder Dhindsa, the founder of Blinkit, mentioned that when comparing year-on-year (YoY) figures, the Gross Order Value (GOV) growth for Blinkit reached 86 percent, aligning with their expectations and past performance. This growth was primarily attributed to increased sales from existing stores, emphasizing their commitment to meeting a wider range of customer needs while maintaining consistent service quality. Additionally, they expanded by 28 new stores during the quarter, resulting in a total of 411 stores by the quarter's end.

Akshant also commented on Blinkit, highlighting that quick commerce experienced more robust growth during festivals compared to food delivery. With major festivals like Navratri, Dussehra, Diwali, and others scheduled for the December quarter, they anticipate another quarter of substantial growth for Blinkit.

Costa Coffee, the coffee brand under Coca-Cola has announced its annual Diwali campaign, #CostaWaliDiwali, in partnership with the baker and content creator, Shivesh Bhatia.

Their combined effort introduces a Diwali-themed menu for coffee that blends with the Diwali traditions with Costa Coffee's contemporary and inventive approach. 

Costa Coffee has introduced the Blisstachio Rose beverage series like the Blisstachio Rose Hot Latte, the invigorating Blisstachio Rose Iced Cappuccino and the tempting Blisstachio Rose Boba Frappe that draws inspiration from classic Indian sweets.

“At Costa Coffee, we are dedicated to embracing and celebrating cultural richness through our coffee. This Diwali, our collaboration with Shivesh Bhatia for the launch of Blisstachio Rose collection showcases our commitment to crafting unique experiences for our consumers. The skilful fusion of tradition with contemporary creativity builds a symphony of flavour that celebrates the richness of Diwali in every cup.”

Costa Coffee has partnered with the highly skilled graphic design student, Shamon Sachdeva, hailing from Anant National University, to design stunning Diwali-themed coffee cups.

Shamon's talent weaves compelling visual stories, turning traditional diya flames into coffee beans, paying homage to Costa Coffee.

I am thrilled to be joining hands with Costa Coffee for an exciting festive range of beverages. Creating this range using flavours that hold a special place in my heart that I have enjoyed growing up has truly been a fulfilling experience. From brainstorming ideas to conducting trials and finally witnessing the Blisstachio Range launch, it has been an absolute joyride to spread festive cheer among people with the best of drinks.”

Costa Coffee has unveiled its 150th store in New Delhi. As part of its continuous growth strategy, Costa Coffee aims to establish additional establishments in the top 8-10 major Indian cities, to expand and enhance its footprint throughout the nation.

IHG Hotels & Resorts, a global hotel company has inked a management contract with NK Sharma Hospitality Pvt Ltd to establish two fresh hotels in the Chandigarh tri-city vicinity Crowne Plaza Chandigarh Zirakpur catering to the premium market, and Holiday Inn & Suites Chandigarh Zirakpur, part of the essentials collection.

These hotels are currently in the construction phase and are set to welcome guests in January 2027.

“We are thrilled to expand our mainstream offering with another Holiday Inn hotel in Punjab in the vibrant locale of Zirakpur, and to introduce Crowne Plaza Chandigarh Zirakpur, alongside our longstanding partners NK Sharma Hospitality Pvt Ltd. The hotels’ strategic location along the NH22 and their easy accessibility to popular leisure destinations like Shimla and Kasauli will undoubtedly prove to be a significant draw for travelers across segments, both leisure and business.” said Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts.

Enhancing IHG's presence alongside Holiday Inn Chandigarh Panchkula and Holiday Inn Chandigarh Zirakpur, this double agreement will bolster the company's offerings in Punjab, introducing more than 350 rooms to its state portfolio.

It is situated in Zirakpur and forming a cluster, these upcoming hotels will be strategically positioned next to National Highway 22, which is one of India's busiest highways, drawing in travelers from nearby urban centers.

Upon their opening, both Crowne Plaza Chandigarh Zirakpur and Holiday Inn & Suites Chandigarh Zirakpur will be strategically positioned to offer extensive banquet facilities around 100,000 square feet of meeting space.

“We are delighted to further strengthen our partnership with IHG Hotels & Resorts through the expansion of Holiday Inn & Suites and to debut Crowne Plaza in Punjab. Building upon the success of Holiday Inn Chandigarh Panchkula, we have confidence that our partnership will prove to be fruitful, dedicated to providing top-quality hospitality to our guests. We look forward to harnessing the benefits of IHG’s global systems and robust loyalty program to maximize our mutual success.” said NK Sharma, Managing Director at NK Sharma Hospitality Pvt Ltd.

This positions them well to cater to the substantial demand for hosting weddings, conferences, and events from Zirakpur, Chandigarh, Mohali, Panchkula, and Dera Bassi. Moreover, being in proximity to Himachal Pradesh, Haryana, and Uttarakhand, the hotels will attract travelers seeking convenient stopovers during their leisure journeys.

Burgrill is partnering with the celebrated Chef Saransh Goila, the brain behind Goila Butter Chicken.

Together, they are introducing two offerings that infuse the beloved flavors of butter chicken and butter paneer into the realm of burgers.

"We are excited to join forces with Chef Saransh Goila to bring something truly unique to our customers, The Goila Butter Chicken and Butter Paneer Burgers are a testament to the fusion of flavors and culinary innovation. We can't wait for our customers to experience the magic of these creations." said Ankur Madan, Co-Founder, Burgrill India.

Chef Saransh Goila's Makhani Gravy and Burgrill's burger combine forces to craft a fusion that is priced at just Rs. 299.

Goila Butter Chicken Burger is a crispy seasoned patty infused with a secret tandoori marinade that's both creamy and smoky, topped with zesty masala onions, all neatly nestled within fresh buns.

"Joining forces with Burgrill to create the Goila Butter Chicken and Butter Paneer Burgers has been an incredible journey. It's a perfect blend of flavors and innovation that brings a piece of India to the world of burgers. We can't wait for everyone to experience this unique fusion of culinary delights." said Chef Saransh Goila.

The Goila Butter Chicken and Goila Butter Paneer Burgers are available at all Burgrill locations starting October 25th.

Curefoods, with support from Accel and Chiratae Ventures has successfully finalized the purchase of Yumlane Pizza, a cloud kitchen brand known for its unique pizza technology.

While the exact transaction amount remains undisclosed, this acquisition enables Curefoods to harness Yumlane's pizza technology throughout its range of brands.

This strategic step is anticipated to aid Curefoods, which owns well-known brands like EatFit, Nomad Pizza, and CakeZone, in broadening its market reach and distribution network by utilizing Yumlane's extensive network of cloud kitchens.

Curefoods, headquartered in Bengaluru, initially obtained the cloud kitchen franchise rights for the southern Indian market and subsequently acquired a 10% ownership stake in the foodtech company.

Hitesh Ahuja, one of the co-founders and the CEO of Yumlane Pizza, conveyed his contentment regarding the collaboration with Curefoods. He appreciated Curefoods' acknowledgment of the pizza category's value that Yumlane had developed. He is confident that Curefoods, with its operational and marketing proficiency and its capacity to expand food brands, is in an excellent position to elevate and expand Yumlane into a dominant force within the pizza industry.

Yumlane Pizza, founded in March 2016 by Hitesh Ahuja, Rueben Ghosh, and Rahul Kumar, developed an advanced technology infrastructure specifically tailored for pizza production.

Later on, the company entered the cloud kitchen sector under the Yumlane Pizza brand and diversified into the business-to-business (B2B) segment.

Yumlane's B2B distribution network has since extended its reach to more than 15 cities and has provided services to various notable brands, including Barbeque Nation, Frozen Bottle, and the joint venture of Reliance Retail and 7-11.

Gokul Kandhi, the Chief Business Officer of Curefoods, commended Yumlane for its inventive use of proprietary technology in pizza production, underscoring its track record of consistently delivering top-notch products. He views the synergy between Yumlane's broad B2B client base and its reputation as a value-driven leader in the pizza segment as a strategically advantageous addition to Curefoods' brand lineup. He is enthusiastic about the prospects of harnessing Yumlane's potential to elevate the pizza category.

Yumlane Pizza has garnered investments from prominent supporters, including Binny Bansal, co-founder of Flipkart, Anupam Mittal of Shaadi.com, Orios Ventures, and RB Investments. Meanwhile, Curefoods recently secured Rs 200 crore (approximately $36 million) in a funding round that combined both debt and equity, with substantial involvement from Binny Bansal's venture capital firm, Three State Ventures.

This funding round also saw additional investments from IronPillar, Chiratae Ventures, ASK Finance, and Winter Capital.

Godrej Yummiez, a frozen ready-to-cook product brand under Godrej Tyson Foods Limited (GTFL), has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC) to introduce millet patties on passenger trains.

Launched earlier this year, the Godrej Yummiez Millet Patty has received a response from households, with people appreciating its nutritious and delicious qualities, crafted from millets such as Jowar (Sorghum) and Bajra (Pearl Millet).

The collaboration between Godrej Yummiez and IRCTC has led to the inclusion of millet patties as part of the breakfast menu on Rajdhani and August Kranti trains traveling between Mumbai and Delhi, enhancing the millet patty's availability to passengers.

Godrej Yummiez introduced the millet patty as a creative snack choice. These snacks are crafted using Individual Quick Freeze (IQF) technology, ensuring their freshness without the need for preservatives.

Combining the nutritional benefits of millets, including their high fiber content and vitamins, with a blend of herbs and spices, these patties offer a flavorful and nutritious snacking option.

“Till recently, the adoption of millets was low due to the perception that they are not tasty and are not easy to cook. This has changed drastically and now every household is embracing the goodness of millets. We supported this adoption by bringing together the nutrition of millets in a ready-to-cook convenient format and launching them in a mass accepted ‘patty’ variant. Godrej Yummiez Millet Patty is a preservative-free snack that symbolizes our commitment to innovation, nutrition, and convenience.” said, Abhay Parnerkar, CEO, Godrej Tyson Foods Limited.

He went on to say, "We are delighted to expand the availability of the delicious Godrej Yummiez millet patty to passengers traveling on Rajdhani and August Kranti trains. IRCTC is a highly esteemed organization known for its extensive railway catering services nationwide. Our exclusive partnership with IRCTC leverages their vast network and expertise in train catering, combined with Godrej Yummiez's culinary excellence, to create an exceptional millet-based food experience."

Rajdhani and August Kranti trains hold a distinguished place in the Indian railway system, renowned for their outstanding service and memorable culinary offerings.

The collaboration between Godrej Yummiez and IRCTC aims to raise awareness about millets, highlighting their importance even within the extensive railway network.

This partnership has already commenced as a pilot program on the Mumbai – Delhi – Mumbai routes of Rajdhani and August Kranti trains, benefiting a multitude of passengers traveling across Maharashtra, Gujarat, Rajasthan, and Delhi.

 “At IRCTC, we always pledge to provide passengers with quality and tasty food spread. Godrej Yummiez Millet patty on Rajdhani and August Kranti trains taken onboard on a pilot basis reinforces IRCTC's dedication to offer passengers interesting and delectable millet-based food options. We are proud to introduce this product as a pilot as it supports the vision of mainstreaming millets through IRCTC’s catering operations across the massive Indian railways’ network. We tried and tested the product before serving it to our passengers. We are anticipating positive acceptance of Godrej Yummiez Millet Patty which is a perfect snack that is nutritious and convenient ready-to-cook item.” said, Rahul Himalian, Group General Manager, Indian Railway Catering and Tourism Corporation (Western Zone).

Presently, Godrej Yummiez offers a diverse range of over 50 vegetarian and non-vegetarian products.

The Godrej Yummiez Millet Patty is easily accessible in supermarkets and major e-commerce platforms throughout India, priced at Rs. 180 for 370-gram packs.

The Yummiez Millet Patty is a convenient ready-to-cook option. It can be prepared by deep-frying, air-frying, or shallow-frying and served hot.

Dharampal Satyapal Group (DS Group), a prominent FMCG with diverse business interests, is gearing up for substantial growth in the hospitality industry.

They plan to invest more than INR 500 crores across their six existing properties.

This investment is expected to propel the DS Group's hospitality segment to achieve a 15% Compound Annual Growth Rate (CAGR) over the next 2-3 years, surpassing industry standards.

In its expansion strategy, DS Group intends to acquire an additional three properties in the next three years, bringing the total number of premium properties under its banner to nine, spread across various regions in India's North and Eastern areas.

DS Group aims to offer a combined total of 1500 rooms across its hospitality properties, solidifying its presence in the hospitality sector.

This growth strategy will encompass a blend of both organic and inorganic approaches.

“DS Group’s strategic growth vision is aligned to the overarching vision of delivering exceptional, meticulously crafted, and memorable guest experiences to leverage the synergies while aiming to capture new market opportunities. With our valued partners, we are very optimistic about our future and aim to create meaningful value for all our stakeholders.” said, Mr. Rajiv Kumar, Vice Chairman, DS Group.

DS Group has been actively involved in the hospitality sector since the year 2000. Currently, their hospitality portfolio comprises six notable properties, including The Manu Maharani in Nainital and Namah in Jim Corbett National Park, both of which are affiliated with Radisson Individuals.

Additionally, they have the Radisson Blu Hotel in Guwahati, Crowne Plaza in Jaipur on Tonk Road, Holiday Inn Express at Kolkata Airport, and the Renaissance Hotel in Bengaluru, managed by Marriott.

Third Wave Coffee, a fast-casual coffee and dining chain, has successfully secured $35 million in a Series C funding round, with Creaegis taking the lead and existing investors also contributing.

The company plans to utilize this capital for nationwide expansion, strengthening its supply chain, improving its operational capabilities, and making strategic investments in technology.

"We are thrilled to have Creaegis lead our Series C fundraise with participation from our existing investor Westbridge Capital and angel investors like SujeetKumar . We believe that the coffee-first QSR industry is one of the fastest growing consumer categories in the country. We have grown 5x through the last year and strategically expanded our footprint across the nation. Going forward, we will continue to double down on technology and product innovation to deliver a superior cafe experience across the country.” said, SushantGoel, Co-founder, and CEO.

Incorporated in 2017 by Ayush Bathwal, Anirudh Sharma, and Sushant Goel, the company has seen substantial growth, now operating a network of over 100 stores in tandem with India's booming coffee and food sector.

“Third Wave Coffee is emerging as one of India’s most loved brands, answering to the country’s aspirations. We are excited to support the management team in their next phase of growth, using a digital first approach to build an iconic Indian company.” said, Prakash Parthasarathy, Managing Partner & CEO and NitishBandi, Partner, Creaegis.

In May 2022, WestBridge Capital took the lead in a $21 million Series B funding round for the company, with participation from prominent angel investors.

"We have been quite impressed with the tremendous traction and customer love that Third Wave Coffee has generated across major cities in India.  We are excited to strengthen our partnership with the company and work towards scaling both the footprint and customer experience manifold." said, Sandeep Singhal, Managing Partner, WestBridge Capital.

Third Wave Coffee has established its presence in numerous key Indian urban centers, encompassing Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh.

The brand has a network of over 100 cafes and recently celebrated its seventh anniversary.

India's specialty coffee chain, abCoffee, disclosed today that it has secured $2 million in seed funding. Leading the investment is Tanglin Venture Partners, with additional support from 100X.VC, Panthera Peak, OTP Venture Partners, and several angel investors.

“This investment will enable us to accelerate our growth and bring our unique coffee experience to more neighborhoods across India. In the coming, 8-12 months, we keep the same momentum of growth; ensuring people are at heart of everything and bring the abCoffee’s specialty coffees to India’s new neighborhoods.” said, Abhijeet Anand, Founder and CEO of abCoffee.

The capital infusion will enable abCoffee to bolster its technological infrastructure, diversify its product offerings, and extend the reach of its budget-friendly specialty coffee through its retail grab-and-go outlets across India.

In 2022, abCoffee was established with the goal of democratizing specialty coffee, aiming to increase its accessibility.

“As the first investors in abCoffee, we are delighted with the rapid growth that abCoffee has been able to achieve. In a burgeoning market, abCoffee has the perfect mix of the right product, strong team and proper positioning to propel them into becoming a leading coffee brand in India in the coming years”, said, Ninad Karpe, Founder & Partner, 100X.VC.

The company provides an extensive selection of freshly brewed coffee options, all reasonably priced, and sourced from top farms in Chikmagalur.

“The initial traction in Mumbai/Delhi across their numerous outlets has been phenomenal and the next 8-12 months promises to be extremely exciting. We are delighted to back abCoffee” said, Nikhil Bhandarkar, Founder & MD Panthera Peak Capital.

The company's main office is located in Mumbai.

Starbucks and The Walt Disney Company Southeast Asia collaborate to craft a distinctive Starbucks Experience, offering a fresh collection of Disney-themed merchandise designed to evoke cherished memories and universal nostalgia for all generations

"Relive the Magic Together" series by Starbucks features beloved Disney characters like Mickey and Friends, Chip 'n Dale, and Dumbo.

This exclusive Starbucks merchandise line showcases charming character artwork and a touch of vintage flair.

It is starting September 19, for a limited duration, this nostalgic collection will be available in handpicked Indian stores.

"Starbucks carries a global legacy of celebrating humanity, nurturing creativity, and spreading joy. Over a decade ago, Tata Starbucks ventured into the Indian market with the commitment to curate unique experiences that transcend the simple act of enjoying a cup of coffee, fostering connections that last a lifetime.” said, Sushant Dash, CEO, TATA Starbucks.

"Relive the Magic Together" merchandise assortment from Starbucks includes a diverse selection of 12 drinkware designs.

This range encompasses mugs, cold cups, and tumblers, catering to individuals who wish to savor their preferred Starbucks drinks, whether it's in a workplace setting or the comfort of their own home.

Each item in this collection showcases whimsical Disney-inspired artwork, infused with the recognizable Starbucks touch

This themed collection, starting at INR 2050, will be accessible in designated Starbucks® outlets throughout India.