Brewhouse secures $2 million funding from Singapore based firm

Bengaluru based rapid food-delivery startup Swish has bagged USD 2 million seed funding round led by Accel, with participation from angel investors such as Abhiraj Bhal and Varun Khaitan (founders of Urban Company), former Swiggy Instamart head Karthik Gurumurthy and others. 

This funding will enable Swish to expand its operations and scale its unique rapid-delivery model across most areas of Bengaluru, followed by other Tier-1 cities.

“We realized that quick commerce, initially seen as a convenience, has quickly become indispensable as people seek faster solutions to their everyday needs. Despite advancements in other categories, food delivery times still often range from 30-60 minutes, which falls short of meeting the urgency that customers now expect, especially for their craving needs. Swish was born from our desire to meet this demand—not just for ourselves, but for everyone who values that level of convenience. We are extremely happy to have Accel onboard as partners to support our vision,” shared Aniket Shah, CEO and Co-founder, Swish.

India's quick commerce market is booming and projected to reach USD 40 billion by 2030. Founded in 2024 by Aniket Shah , Ujjwal Sukheja, and Saran S, Swish addresses a crucial gap in the food delivery sector by providing a hyperlocal service that caters to spontaneous cravings. Operating optimized and modified cloud kitchens—or "delight centers"—Swish began in HSR Layout, Bengaluru, and has quickly expanded to parts of Bellandur, and is expanding every week to other parts of the city. 

The startup’s end-to-end control over food preparation, packaging, and delivery enables it to ensure hot, fresh, and hygienic food reaches customers within 10 minutes. Swish’s innovative full-stack model and optimized processes allow it to maintain quality and efficiency while safely meeting rapid delivery commitments within a compact 1.5-2 km radius. 

“Customer expectations around delivery times have shifted with the rise of quick commerce. Swish is tackling this challenge with a new approach, rethinking the supply chain to bring the same ultra-fast experience to food delivery through their delight centers. Aniket, Ujjwal, and Saran are set to create significant impact for their customers as they scale Swish to more cities,” added Abhinav Chaturvedi, Partner at Accel.

By March 2025, Swish plans to expand to about 150 delight centers across major areas in Bengaluru, with plans to expand to other Tier-1 cities soon. 

Proost, a domestic beer brand established in 2017 by Tarun Bhargava and Vijay P. Sharma, has raised 30 crores in the Series-A investment round.

Hyderabad Angels, Chennai Angels, and other prominent HNIs participated in the venture, which was spearheaded by Chimes Group and Srinivasan Namala.

Commenting on this achievement, Tarun Bhargava, Co-Founder & CEO of Proost, said, "We are thrilled to announce this new round of funding, which represents a significant step forward in Proost's journey. With these funds, we will focus on expanding into strengthening our production capacity, expanding into a few new markets while also ensuring that we go deeper into our existing ones on the back of brand building.”

He further added, “This is Tranche-1 of our ongoing Series A round and it's great to see 90% of the round size being mopped by our existing investors. Our commitment to delivering value to our stakeholders remains unwavering, and this investment brings us closer to our goal of capturing a substantial share of the Indian beer market by the end of the decade."

The money will strengthen Proost's financial base and play a key role in its growth into new areas. With a significant presence in retail establishments in Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka, Proost, which operates under the Grano69 Beverages banner, has established itself in the beer sector.

By the end of the decade, the brand hopes to have 5% of the Indian beer market thanks to strategic market expansion, customer-focused product development, and innovation.

Kolkata-based Haldiram Bhujiawala Limited, operating under the "Prabhuji" brand, has announced the successful conclusion of its private placement, with Bharat Value Fund (BVF), managed by Pantomath, investing Rs 2350 million for a minority stake. As India’s retail snacks market continues to grow, this sector was valued at Rs 426 billion for FY24 and is projected to reach approximately Rs 955 billion by FY32, growing at a CAGR of 11 percent. Organized players like Haldiram Bhujiawala, with their diverse product offerings and quality standards, are expected to be key contributors to this expansion.

With over 60 years in the snacks and savory industry, Haldiram Bhujiawala has built strong brand recognition across Eastern and North-Eastern India, particularly with its "Prabhuji" products and quick-service restaurant chains in these regions. The brand’s recognition is supported by the endorsement of Bollywood actors Shahrukh Khan and Rashmika Mandanna, along with a modern marketing approach targeting new-age consumers.

The company operates both retail and distribution networks, reaching over 200,000 retailers nationwide through 2,000 distributors. It currently has 19 company-owned retail outlets and 60 franchise stores, and it plans to leverage the new investment to expand manufacturing and market reach beyond Eastern India. With a combined manufacturing capacity of 6,035 Metric Tonnes Per Annum (MTPA) across three facilities, Haldiram Bhujiawala is poised to increase its production and presence in new regions.

Manish Agarwal, MD of Haldiram Bhujiawala stated, “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionizing food habits and tastes of India. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”

Madhu Lunawat, CIO of Bharat Value Fund shared, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”

Bharat Value Fund, known for supporting profitable, growth-stage companies, has made six investments overall, with three in the consumer sector within the past three months. Recent investments include brands such as the personal hygiene company BumTum (Millennium Babycare Limited) and consumer durables company Aniket Metals Pvt Ltd. BVF’s recent partnership with Haldiram Bhujiawala underscores its commitment to fostering long-term growth in India’s retail and consumer goods markets.

One of the confectionery industry's fastest-growing companies, India Sweet House, has raised a substantial sum of money in its pre-IPO investment round, which was headed by Viney Equity Market LLP. For this funding round, IntelliFin Private Limited served as the only advisor. Strong investor trust in the brand's quick growth and creative take on traditional Indian snacks and sweets is shown in this investment. In order to start its first public offering (IPO), the company is currently getting ready to submit its Draft Red Herring Prospectus (DRHP) to the stock exchange.

Rather than seeking private equity or venture money, as is customary for startups, the creators of India Sweet House have decided to go the IPO route. This calculated action demonstrates their long-term goal of developing a lucrative and sustainable company while remaining dedicated to generating wealth for their franchisees, partners, and investors.

Speaking on the investment, Anant Aggarwal, Managing Partner at Viney Equity Market LLP, said, "India Sweet House is an iconic brand that resonates deeply with our vision of backing businesses that reflect the richness and diversity of India. This investment aligns with our broader goal of nurturing small and medium enterprises, enabling them to scale while preserving their authenticity and values. We are excited about the growth prospects of the brand and are proud to be part of this journey."

Shwetha Rajashekar, Vishwanath Murthy and Rajesh Mehta, Co-Founders of India Sweet House expressed their excitement about the latest funding round, “We are thrilled to welcome Viney Equity Market LLP and their team as we embark on the next phase of our growth journey. Chittorgarh Infotech Limited also participated in this round. Opting for the IPO route will enable us to operate the business more profitably and expand our reach to a broader customer base across the country. We remain dedicated to maintaining the highest standards of quality and tradition in all that we do.”

Bengaluru-based food delivery and grocery platform Swiggy on Thursday filed draft red herring prospectus (DRHP) with the markets regulator, SEBI. 

The company is planning to raise Rs 3,750 crore via fresh issue.

The IPO is a combination of fresh issue and offer-for-sale of 185,286,265 shares by existing investors. 

Many investors including Accel, Tencent, Elevation Capital, Norwest Venture are selling some of their shares.

Reports also suggests that Swiggy may take a decision to upsize the fresh issue component by another Rs 5,000 crore. Taking the total fresh issue component up to Rs 11,600 crore. The company will take this decision in an EGM expected to be held in the first week of October.

According to the DRHP the proceeds of the IPO will be used for investment in its subsidiary Scootsy, for expansion of its dark store network for its quick commerce segment, setting up dark stores, investment in technology and cloud infrastructure and funding its inorganic growth.

The company has reached a milestone of 112.7 million transacted users as of June 2024. It’s average monthly order frequency for the three months ended June 30, 2024 and 2023, and in financial years 2024, 2023 and 2022 was 4.50 times, 4.42 times, 4.48 times, 4.34 times and 4.14 times respectively.

Cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, filmmaker Karan Johar, and actor-entrepreneur Ashish Chowdhry are among the notable investors who have acquired Swiggy shares, Economic Times reported.

Swiggy’s consolidated operating revenue for FY24 was at Rs 11,247.4 crore, which grew 36 per cent YoY. While losses have halved during the same period. Q1FY25 consolidated B2C gross order value (GOV) was at Rs 10,189.5 crore.
Net loss declined by 46 per cent to Rs 2,256 crore in FY24. Net loss for FY23 was at Rs 4,192 crore. The food delivery business reported Q1FY25 consolidated B2C GOV at Rs 10,189.58 crore.

Its food delivery services are available in 681 cities, Instamart (quick commerce) in 32 cities, Dineout in 52 cities and Genie in 69 cities.
 

Verlinvest, a global, family-backed evergreen investment firm, has led a significant investment of US$35 million in Blue Tokai, India’s leading specialty coffee and bakery brand. 

This strategic partnership will empower Blue Tokai to deepen its presence in existing metro markets and expand into new Tier I & II cities in India over next three years.  

“With this latest funding, we have the opportunity to bring our passion for coffee to even more people.  We will utilize these funds to accelerate our expansion across all channels – from our own cafes to B2B and B2C platforms,” shared Matt Chitharanjan, Co-founder and CEO, Blue Tokai.

The Series C funding round also saw participation from existing investors Anicut Capital and A91 Partners.

Founded in 2013, Blue Tokai is pioneering India’s specialty coffee movement. Led by co-founders Matt Chitharanjan, Namrata Asthana and Shivam Shahi, Blue Tokai has more than doubled its store count in the last year to 130 outlets currently, delivering a range of specialty coffee products and artisanal bakery goods. 

The newly acquired funds will be used to expand to over 350 locations in the next 30-36 months, drive new product innovation, and expand to new channels.

“We are thrilled to partner with Blue Tokai in their mission to bring specialty coffee to millions across India. Matt, Namrata, and Shivam have brilliantly crafted a cult brand known for its exceptional products and customer experience. Together, we are committed to elevating Blue Tokai to new heights, creating India’s leading coffee chain and delighting consumers with unparalleled quality and service,” pointed Arjun Anand, Managing Director & Head of Asia, Verlinvest.

With this funding, Blue Tokai becomes the the most valued new age Indian coffee company at nearly INR 1500 crore valuation.

“This investment arrives at a strategic time, enabling us to accelerate our expansion and drive profitability while maintaining our commitment to coffee quality. We are experiencing a significant surge in demand for quality coffee and bakery products, and this funding round further validates our hypothesis regarding market growth. We have been steadily adding five cafes each month for over a year, and this capital equips us to meet our three-year target of 350+ cafes in India,” added Shivam Shahi, the Co-founder and COO of Blue Tokai Coffee Roasters.

Verlinvest has a proven track record of successfully scaling consumer brands in India, including Lahori, Epigamia, Heads Up For Tails and Wakefit. The firm’s investment in Blue Tokai demonstrates the ongoing commitment to the Indian market, which presents strong growth opportunities in the consumer ecosystem. This partnership is also further illustrative of Verlinvest’s focus on supporting high-quality F&B brands globally, including notable investments with Insomnia Cookies and Tony’s Chocolonely. 
 

99 Pancakes, a leading QSR chain in India, has raised Rs 200 million in a Series A funding round. The investment, secured from a family office, will support the company’s pan-India expansion strategy, focusing on broadening its presence in Tier l cities and beyond.

With this infusion of capital, 99 Pancakes plans to significantly scale its operations nationwide. The company aims to open 50 new outlets by the end of the year and expand to 200 outlets by December 2025. The expansion will target 50 cities across India, enhancing the brand's recognition and reach. The company will open new outlets both through company-owned stores and partnerships with master franchisees.

In August, 99 Pancakes launched four new outlets, and the expansion momentum is set to continue with eight additional outlets planned for September. Current efforts are concentrated in Gujarat, with new locations in Ahmedabad, Vadodara, Anand, Surat, and Vapi.

Vikesh Shah, Founder of 99 Pancakes said, “With the support and trust of our team, we embark on this exciting phase of growth. This funding will enable us to enhance our operations and accelerate our expansion plans, bringing the unique pancake experience to more cities and more customers across India and become a household name.”

99 Pancakes is committed to expanding its offerings and delivering exceptional dining experiences as it continues to grow within the Indian café sector.

Mumbai-based restaurant chain Burma Burma Restaurant and Tea Room has raised $2 million (approximately Rs 16.8 crore) from several family offices, including existing investor Negen Capital. This funding will support the restaurant's expansion plans, aiming to triple its number of outlets over the next three years.

"We are not only looking to penetrate deeper into existing markets such as Bengaluru, NCR, and Mumbai but also in newer cities such as Chennai, Chandigarh, and Jaipur," said Ankit Gupta, Founder, Burma Burma .

Founded in 2014 by Ankit Gupta and Chirag Chhajer, Burma Burma specializes in Burmese cuisine. The chain currently operates 13 restaurants and delivery kitchens in key cities including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. The restaurant chain has doubled its footprint over the past year.

In July, the company's EBITDA stood at over 13 percent, with a target to achieve an EBITDA of over 15 percent by FY25. This recent funding round follows the restaurant chain's $2 million seed round in November 2022, led by Negen Capital with participation from Bbigplas Poly and other angel investors.

The investment in Burma Burma comes amidst a broader trend of restaurant chains raising funds. Last month, Charcoal Eats secured Rs 45 crore ($5.3 million) in a round led by Girish Patel, founder of healthcare company Paras Pharma. Additionally, quick service restaurant (QSR) chain BIGGUYS raised $2 million in bridge funding from a group of non-resident Indians (NRIs) through a mix of equity and other instruments.

The surge in investments is driven by the growing food service market in India. According to a report by Mordor Intelligence, India's food service market is projected to grow at a CAGR of over 10 percent, reaching a size of $125.06 billion by 2029 from the current $77.54 billion.

House of Biryan has raised $2m from Al Siraj Holdings, single family office from middle east, Angel Star Ventures, US based fund out of PA, and accredited HNISs from the US. 

With this round, $3 million has been raised in total; the majority of that money is being used to support growth in Mumbai & Delhi-NCR.

HOB is run by Mikhail & Mohammed, Michelin trained chefs with 15 years of running various kitchens & is supported by successful private equity investors who together own more than 20% of the company led by Mohit Goyal who has 12 years of experience with Carlyle and CVC capital.

Currently, the company has 12 kitchens between Mumbai and Delhi and will add another 30. The platform aims to serve 100k orders every month, crossing the 100 cr ARR mark by Dec’25. Revenue per store for the company in the biryani category is 30-50% higher on per store level compared to the accomplished biryani players. This is expected to improve further as the company will launch curries in the next 3 months.

"GenZ values taste, freshness, ease, and predictability. Our ability to fulfil an order (from origin to rider) in 11 minutes guarantees that the majority of our current 30,000 monthly orders arrive within 30 minutes. Our success lies in keeping things simple by delivering a yummy & addictive biryani within 30 minutes,” shared Mohammed.

Biryani is the most ordered dish as per marketplace reports; however, it is a complicated category and tricky to scale. Unlike Pizza and Burger, replicability across different zones in the country doesn’t guarantee success.

“I participated in a personal capacity in their previous round and worked closely to witness the consumer love along with solid unit economics. This got us excited to participate with Mohammed and Mikhail, making HOB our first formal bet on India's growth story,” added Abhineet Singh, CIO – Al Siraj.

HOB distinguishes itself by allowing customers to customize their biryani, emphasizing a "great, desi, tasty, addictive product." Its success is based on freshness, consistency, and its capacity to create new flavours. "Chicken Tikka Kepsa biryani is our best-selling dish, and we have a separate section for galoutis, which is unique and a significant differentiator" says Mikhail, who leads product and operations.

“The notion with Cloud kitchen QSR bets has been that they are difficult to profit from, but what drew me to HOB was their per-kitchen stats. Coming from a private equity experience, I bet HOB has all the ingredients for significant growth while remaining profitable,” pointed Mohit.

The current ARR is 25 crore over 6 businesses that have been open for more than six months, with 6 kitchens that are only a month old on average. The current burn rate is -2% EBIT and will break even by September 24, with single-digit profitability by December 24. With a 700+ average order value and a high repeat rate, the stats make the aim attainable.

Sweet brand Scandalous Foods that’s catering to the restaurant and catering sectors, is excited to announce its ambitious goal of raising $12 million in the coming months. 

This move comes on the heels of a successful pre-seed funding round in February 2024, where the company secured ₹3 crore from various esteemed angel investors.

The pre-seed round, completed with the backing of seasoned investors, including KRS Jamwal, Mrunal Jhaveri, Arjun Vaidya of V3 Ventures, Ajay Mariwala, MD of VKL and FSIPL, and celebrity Chef Harpal Singh marked a significant milestone for Scandalous Foods. 

These funds have already catalyzed growth, enabling the company to expand its production capabilities and establish a larger facility.

“Our recent pre-seed funding has laid a strong foundation for our growth. The additional ₹3 crore has allowed us to enhance our production and cater to a broader clientele. As we prepare to raise $12 million, we are more committed than ever to revolutionizing the Indian sweets landscape. Our vision is to blend tradition with innovation, creating sweets that resonate with both contemporary and traditional palates,” shared Sanket S., Co-Founder of Scandalous Foods.

Scandalous Foods has demonstrated robust growth, with a 22% year-over-year increase in FY24. Notably, the company saw a remarkable 75% growth in the last quarter (January–March 2024) compared to the previous quarter (October-December 2023). 

The company aims to leverage this enhanced capacity to strengthen its presence in key markets, including Mumbai and Nasik, and build a robust HoReCa base. 

As Scandalous Foods embarks on its next phase, it remains focused on delivering exceptional Indian sweets that cater to evolving consumer tastes. 

The upcoming funding round will enable the company to introduce innovative products, launch its Mithai parlors expand its offerings, and become a category leader in the industry.

Founded in August 2022 and led by Sanket S, and Pravesh Amin, it is a pioneering venture aiming to revolutionize the sweets industry for the restaurant sector. 
 

Charcoal Eats, a quick service restaurant (QSR) chain specializing in Indian cuisine, has secured Rs 45 crore in funding from investors led by Paras Pharma founder Girish Patel, among others. This investment values the company at an estimated Rs 200-250 crore. Additional investors include Anil Sanghvi, chairman of Sanghvi Erectors, Ajinkya Firodia, MD of Kinetic Group, and former banker Rajiv Jain.

Founded nine years ago, Charcoal Eats operates 40 locations, primarily cloud kitchens in Mumbai, Pune, and Delhi-NCR, competing in the Rs 6,000 crore biryani market with brands like Biryani by Kilo and Behrouz Biryani. Despite being the most ordered dish on Swiggy and Zomato for several years, the biryani market remains fragmented and unorganized.

"The capital will be used for distribution expansion, brand building, technology, and international expansions. The funds will help widen our reach to over 100 multi-format stores in the current fiscal, as well as expand globally, especially in the US," said Charcoal Eats co-founder Krishnakant Thakur. The company did not comment on the specific deal size.

Charcoal Eats was founded in 2015 by Krishnakant Thakur and Anurag Mehrotra, both former finance executives. The company operates two brands—Charcoal Eats for biryani and B Burger in the gourmet burger segment. Mehrotra has held leadership roles at Edelweiss Capital, Kotak, and Quant Capital, and also seeded Coverfox Insurance Broking. Thakur has a background in financial services as a research analyst.

The company aims to achieve an annualized run rate of Rs 150 crore by the end of the fiscal year and reach break-even. "We expect revenues to grow five times over the next two years fueled by brand building, expansion in cloud kitchens, and various other formats like corporate parks and international markets. A capex and opex-light model helps the company achieve exponential growth in a very capital-efficient manner," Thakur added.

The organized foodservice market was valued at $27.1 billion in 2023, with the chained category projected to grow at a CAGR of 12 percent between 2020 and 2026, driven by increased penetration and growth from non-metro cities, according to Wazir Advisors. The QSR segment remains the fastest-growing category in the organized sector, with an expected growth rate of 18 percent during 2023-26 as urbanization and modern lifestyles continue to expand in India.

Nitin Mathur, Founder of Tavaga and an early investor in Charcoal Eats said, "Consumer behavior is changing rapidly and putting pressure on companies to be more agile, as seen in the recent shift to quick commerce. Challenger brands like Charcoal Eats are rightly placed on the cusp of these mega consumer trends. This highlights how rapid changes challenge big companies, while new, innovative brands can quickly adapt and potentially create new market categories."

Last year, competitor Biryani By Kilo (BBK) raised $35 million in its series B funding round led by Falcon Edge venture capital arm Alpha Wave Ventures, while Rebel Foods, owner of Behrouz Biryani, secured $13.2 million in debt from Alteria and InnoVen Capital.

"This milestone is a testament to the unwavering grit and resilience of founding entrepreneurs, who have navigated the challenges of the pandemic with remarkable tenacity and vision. Their leadership continues to drive the commitment towards operational excellence and customer delight in the QSR landscape," said Girish Patel.

BIGGUYS, India's fastest-growing homegrown chicken QSR chain, has secured a significant investment of $2 million (over Rs. 16.62 crore). 

This investment saw a mix of equity and other instruments that comes entirely from a group of Non-Resident Indians (NRIs).

The influx of NRI investment reflects a growing appeal of India's QSR space among investors seeking high-growth opportunities in India. 

“We are thrilled to see such a huge interest from NRIs who want to invest into Indian homegrown QSRs. Their belief in our vision and commitment to the Indian market is incredibly validating.  This investment will be instrumental in fueling our ambitious expansion plans and solidifying our position as a leader in the Indian QSR space,” shared Biraja Rout, CEO of BIGGUYS.

BIGGUYS has experienced explosive growth since its inception, signing up an impressive 120 stores within just one year after its launch. This rapid expansion is fueled by their focus on innovative, high-quality chicken options and a deep understanding of the Indian palate. 

This NRI investment will allow BIGGUYS to accelerate its expansion plans across South India, targeting key cities like Bangalore, Chennai, Odisha, and Andhra Pradesh.  

The brand aims to cater to Tier 1, Tier 2, and Tier 3 cities with innovative strategies, making BIGGUYS a household name across the region.

BIGGUYs, brainchild of Biggies Burger founder Biraja Rout, is rapidly expanding with a clear vision to become the "KFC of India." They're achieving this by prioritizing excellence in sourcing, offering unique flavor options, and securing partnerships for a massive 120-store rollout across the country.

BanyanTree Growth Capital, a seasoned private equity firm renowned for its savvy investments in the Food & Beverage sector, is excited to announce its strategic investment in Bizibean, the celebrated café chain renowned for its specialty coffee and tea offerings in Gurgaon and New Delhi. 

This partnership enhances the consumer experience under the iconic brands Nirula’s and "Angels in my Kitchen", creating a powerhouse trio in India’s café and casual dining landscape.

Nirula’s, a beloved name among Delhiites, is synonymous with a rich heritage of culinary delights including its Hot Chocolate Fudge, Ice Creams, Big Boy Burgers, and Pizzas. "Angels in my Kitchen", also under the patronage of BanyanTree Growth Capital, is known for its exquisite range of baked goods and desserts. Together, these brands form a complementary blend of offerings that cater to a wide array of tastes and preferences.

With the introduction of Bizibean, the portfolio now expands into the realm of fine coffees and teas, bringing an enriched café experience to customers. Bizibean, which began as a humble kiosk in Gurgaon’s South Point Mall, has grown into a prominent name in the coffee industry, known for its exceptional espresso and a variety of brewing methods including Espresso, Pourover, Aeropress, and French Press. 

“We are thrilled to welcome Bizibean into our family of premium brands,” said Sanjiv Singhal, Founder at BanyanTree Growth Capital. “This partnership not only enhances our food and beverage offerings but also aligns with our vision of creating exceptional dining experiences. We believe that the integration of Bizibean’s specialty coffees and teas will complement and elevate the culinary journey at Nirula’s and Angels in my Kitchen, offering our customers an even richer and more diverse array of choices,” he added.

BanyanTree Growth Capital is confident that this partnership will redefine the café experience in India, offering an unmatched variety and quality of food and beverage options under one roof.
 

Boba Bhai, a category leader of the bubble tea market in India, and a Quick-Service Restaurant (QSR) chain, has received seed funding round, raising a total of INR 12.5 crores. 

This marks the first institutional fundraising round since its inception in October 2023. In just six months, the company has reached a remarkable milestone, processing over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities - Delhi, Gurugram, Udaipur, Bangalore, Mumbai, Hyderabad, and Chennai.\

The funding round saw participation from a diverse group of investors, including Titan Capital, Global Growth Capital UK (Harsh Patel), Arjun Vaidya, Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo and other high profile angel investors. 

Titan Capital and Global Growth Capital UK led the round, underscoring their confidence in Boba Bhai's vision and growth potential.

“As a result of our concerted efforts to drive wider adoption of bubble tea consumption India, we have witnessed significant growth of both the category and Boba Bhai in a short span of time. We have already expanded rapidly in India, and with this fresh fund, we will expand to 100 stores across the country by December 2025,” said Dhruv Kohli, Founder, Boba Bhai.

The brand aims to capture 75-80 percent market share in India in FY24. 

"We are impressed with Dhruv`s vision and sharp execution with intense clarity in introducing and building 'Bubble Tea based Korean cuisine food brand in India', starting with Bangalore and now expanding to Delhi-NCR and other cities. The team's commitment to tailor-make a range of bubble teas to cater to the varied palates and preferences of Indian consumers has helped it gain immense popularity in a short span of time. We are pleased to partner with a brand with a vision to build a large food brand in India with solid taste, demand, and frugal distribution." shared, Bipan Shah, Partner, Titan Capital.

Harsh Patel, Managing Partner, Global Growth Capital, said “Bubble tea is a very exciting market category globally, and is gaining popularity in India at a rapid pace. In a very short span, Boba Bhai has dominated the India market, and has shown the headroom for long-term growth. We are excited to partner with Dhruv on this journey and truly help create a global brand from India”.

Arjun Vaidya, Co-founder, V3 Ventures & Founder of Dr Vaidya’s (Acquired), said “Since the first time I met Dhruv I was intrigued by Boba Bhai. It perfectly blends together the rising K wave with Indian flavours. They have shown exponential growth already and I am excited to see what the future holds!”.  

India being a Gen Z country, Boba Bhai aims to leverage the funding to bolster its research and development efforts, scale its operations, and introduce exciting new products to cater to evolving consumer preferences.

Cold-pressed juice start-up The Fresh Press has raised an undisclosed amount in pre-Series A funding round from Gruhas Collective Consumer Fund (GCCF), a fund floated by Zerodha cofounder Nikhil Kamath and Abhijit Pai’s VC fund Gruhas in partnership with Collective Artists Network.

With this fundraise, the Mumbai-based startup is now a part of the first cohort of Gruhas Gusto, a six-month accelerator programme aimed at boosting early stage food-tech startups, shared the release.

The programme is backed by Gruhas, Jubilant Bhartia and DLF family offices as well as Anthill Ventures.

As per the release, the company will use the funds to expand into Hyderabad, Bangalore, and Chennai, while also targeting key regions like Gujarat, Rajasthan and Delhi. 

“With the support of GCCF and Gusto Accelerators, we envision expanding our footprint nationwide, revolutionising the way people perceive and consume nutritious beverages. We anticipate that the current funding will definitely help in building a little bigger team since expansion is a major part of this fundraise. We aim to utilise it as effectively as possible and maximise results for smoother operations,” shared Dino Morea, Co-founder & Investor.

Founded by Mithil Lodha and Rahul Jain in 2018, Dino Morea came on board as both an investor and co-founder later.

The startup sells four fruit juices (mango, avocado, strawberry and fresh lime) in 350 ml bottles out of 36 stores in Mumbai, Delhi, Pune and Bhopal.

It is also available in stores of Nature’s Basket, PVR Cinemas, Carnival Cinemas, Grovel, Biz Bazaar, FreshPik, Jio World Mall and Reliance Retails.

The start-up also aims to establish 1,000 quick-service restaurants across all the Indian cities. 

In the fresh juice category, the startup competes against the likes of Foodaholics, MyGreens, SapFresh and Raw Pressery, among others. 

“Our commitment to The Fresh Press reflects our support for the growing health consciousness among Indian consumers. As people become more mindful about what they eat, I want to support innovative home-grown entrepreneurs who are leading the charge in the health and consumer sectors. It’s time we take control of our own well-being and pay attention to our nutrition intake,” Kamath added.

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.

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.

Bengaluru-based IDC Kitchen (Idli, Dosa, Coffee), a chain of vegetarian South Indian self-service restaurants has successfully secured INR 1.5 Crore debt from Peter Thiel's Valar Ventures-backed financing platform, Velocity.

The funds raised will be used towards marketing initiatives and other inventory-related expenses, enhancing IDC's outreach and sustaining its commitment to delivering an authentic South Indian culinary experience. 

This strategic collaboration with Velocity reinforces IDC's leadership in the Indian Quick service restaurant (QSR) landscape.

"As we embark on the next phase of our journey, IDC Kitchen signifies more than just a culinary service; it's a transformative culinary journey. With the support of Velocity and the unwavering love of our patrons, we are thrilled to bring the essence of South India to doorsteps across the nation," shared Abhishek Baldota, Director of IDC - Idli Dosa Coffee.

Established in 2012, IDC Kitchen currently has 11 locations in Bengaluru, 2 in Mumbai and 1 in Raichur and INR 30 Crore in revenue per annum, extending the diverse flavours of South India to enthusiasts nationwide.

“At Velocity, we are thrilled to contribute to the growth and success of IDC through our recent funding of INR 1.5 Crore. This partnership opens up new avenues in the dynamic landscape of restaurants and QSR chains, and we believe that IDC's commitment to authenticity and innovation aligns seamlessly with our vision. I am confident that this infusion of funds will not only fuel IDC's brand growth but also set new benchmarks in the restaurant and QSR industry. We look forward to witnessing the continued success of IDC as it persistently redefines the culinary experience for patrons across India,” added Atul Khichariya, COO & Co-Founder of Velocity.

In a significant move to bolster its innovation and expansion spree, Scandalous Foods, has announced completion of its pre-seed funding round with an impressive total of Rs 3 crore. 

The most recent infusion of Rs 1.4 crore from the Indian Angel Network (IAN), spearheaded by seasoned investors KRS Jamwal and Mrunal Jhaveri and notable angel investors Arjun Vaidya of V3 Ventures, Ajay Mariwala, MD of VKL and FSIPL, and Sushma Gupta, signals the successful completion of this funding phase.

“This funding round is not just about financial growth but a testament to our belief in our vision to redefine the Indian sweets landscape in the post meal consumption space. With the additional Rs 1.4 crore, we are better equipped than ever to innovate, expand, and cater to the growing demands of our diverse clientele. Our journey from a nascent startup to a trailblazer in the industry has been exhilarating, and this is just the beginning,” shared Sanket S., Founder of Scandalous Foods.

This financial milestone follows the company's strategic use of earlier funds to establish a larger production facility, setting the stage for an ambitious expansion. 

With enhanced production capabilities, Scandalous Foods is now poised to broaden its footprint across the food service industry and build a robust HoReCa base in key markets, including Mumbai and Nasik.

“Scandalous Foods stands out with its unique proposition in the Indian sweets segment, especially in the B2B space. Their approach to combining tradition with innovation is precisely what the industry needs. We are excited to support Scandalous in their journey towards becoming a leader in the food service industry. Their vision aligns with our commitment to backing businesses that have the potential to scale and make a significant impact,” added Mrunal Jhaveri founding partner at Ice.vc and leading the round at Ian with KRS Jamal.

The company's strategic investment in a bigger production unit underscores its commitment to quality and scalability. Scandalous Foods' ambition to revolutionize the Indian sweets scene is supported by its dedication to product excellence and customer satisfaction. By partnering with key accounts across India, the company aims to enhance its offerings and accessibility, further cementing its position in the market.

As Scandalous Foods moves forward, it remains focused on its mission to deliver exceptional Indian sweets that cater to the evolving tastes and preferences of consumers. 

With this completed funding round, the company is set to embark on its next phase of growth, promising to bring more innovative and delightful sweets to tables across India. Scandalous Foods operates with a focus on cloud kitchens and plans to expand to various food service segments like wedding catering, corporate catering, and large-format commissaries. In the near future, the brand is set to introduce mithai bars and sachets, catering to spontaneous indulgence.
 

Renowned Indian television personality and savvy investor Rannvijay Singh recently made a significant financial gain, achieving a 10x return on his partial exit from his investment in the popular burger chain, Burger Singh. 

This exit marks a notable success in Singh's diverse investment portfolio, which spans across various sectors including food and beverage.

Rannvijay Singh's investment in Burger Singh was part of a larger funding round, which was instrumental in the brand's growth trajectory. His contribution, along with other investors, facilitated the expansion of Burger Singh's operations. This growth phase for the company included an increase in the number of their outlets and a strategic focus on enhancing their delivery and takeaway services. Rannvijay Singh's investment decision highlights his acumen in identifying promising ventures in the dynamic Indian market.

The successful partial exit from Burger Singh not only underscores Rannvijay Singh's keen business acumen but also his ability to identify and support high-potential ventures in their growth phase. 

His investment in Burger Singh was part of a broader strategy to support innovative and emerging companies in India, particularly in the consumer space.

Rannvijay Singh's involvement has been more than financial; he has been an active supporter of the brands he invests in, often leveraging his popularity and business savvy to promote and grow these companies. His investment in Burger Singh, for instance, was aligned with the growing trend of functional food and beverages in India, with a focus on innovative products and marketing strategies.

“Investing in Burger Singh was a decision driven by my belief in the brand’s potential and its unique approach to the Indian fast-food market. The impressive growth of the company and the successful partial exit is a testament to the hard work of the Burger Singh team and the solid business model they have established,” he shared.

This exit comes alongside Rannvijay Singh's other notable investments in startups like Rage Coffee, Ultravilotte, Hypd, Noto, Assembly, ABC fitness, Eyewearlabs, Whiskers, Leverage Edu showcasing his role as an influential figure in the startup community and his commitment to nurturing entrepreneurship in India.

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.

The Baker's Dozen (TBD), India’s one of the leading artisanal bakery brand, has announced the closure of an INR 33 Crore Pre-series A Funding round. 

The investment round, spearheaded by industry heavyweights like Wipro Consumer Care - Ventures, Fireside Ventures, Mirabilis Investment Trust, and She Capital, marks a pivotal moment for TBD's future market strategies and product diversification.

This strategic investment will be channeled towards expanding TBD’s presence beyond metros, targeting growing markets in non-metro and Tier-1 cities. 

A key focus will be on enhancing the mass-premium segment of TBD’s product range, reflecting the brand’s commitment to innovation and quality. Another portion of this strategic injection has also been earmarked for robust marketing and brand-building initiatives. This includes a well-balanced blend of online and offline campaigns, aiming to fortify TBD's market position and amplify brand visibility.

With a remarkable 2X growth in ARR post its last funding, TBD is on a fast track to reshape the Indian bakery landscape. The brand sets its sights on becoming a 500 Crore profitable entity within five years, with plans to challenge the status quo in the Indian bakery industry and make headway into the Middle East market.

“As a founder of The Baker's Dozen, I am deeply humbled and energized by our latest funding round. This investment not only validates our mission to revolutionize the Indian bakery industry but also propels us towards our vision of becoming a global leader in artisanal bakery. Our commitment to blending traditional baking methods with modern, health-conscious innovations is at the heart of our growth strategy,” shared Aditi Handa, Co-founder & Head Chef, The Baker’s Dozen.

Sumit Keshan, Managing Partner, Wipro Consumer Care - Ventures said, “We are excited to lead this investment round in The Baker’s Dozen (TBD) and partnering with the company in its next stage of growth journey. We believe that TBD has created a strong franchise for artisanal bakery products which are greatly liked and admired by its consumers. Aditi and Sneh are highly focused on what they bring to the consumers and we are truly happy to partner with them in their journey. This is the 11th investment from our VC fund and first in the food space.”

Prayag Mohanty, Principal at Fireside Ventures pointed, “The recent funding round for The Baker's Dozen (TBD) amidst uncertain market environment reflects a strong investor belief in the brand's potential to redefine the Indian bakery industry, historically overlooked by significant capital.”

Srinivas Seshadri, Head – Investments at Mirabilis Investment Trust mentioned, “We, at Mirabilis, believe in the inexorable rise of the well-informed Indian consumer who seeks better choices personally and for the planet. TBD has shown that it is possible to build a high quality, clean label artisanal bakery offering at a national scale, while maintaining healthy unit economics. Aditi and Sneh bring in the right mix of expertise and passion to scale this up to the next level and we are delighted to partner with TBD in the next leg of growth.”

“For years, we've watched TBD's growth adventure in the artisanal bread scene with pure admiration. They've filled a gaping need in the industry, and Aditi and Sneh have been nothing short of trailblazers. TBD expertly positions itself between affordability, deliciousness, and health, crafting additive-free treats that Indian families can feel good about bringing home. Now, we're thrilled to join their journey and lend our support to their unwavering upward trajectory and their rock-solid, high-growth path,” added Anisha Singh, Founder, She Capital.

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.

Tech-enabled direct-to-home startup in the healthy farm-fresh dairy & breakfast foods category, Happy Nature, has recently closed a pre series A round of Rs 6 CR.

The brand is an ideation of four founders and ex-IIT / XLRI / AIM alumni: Vishal Rastogi, Vikas Singh, Sahil Chopra and Parth Birendra.

Amol Khanna representing Transaction Square and his team were the financial advisors, while J.Sagar Associates (JSA), comprising Lalit Kumar, Partner, Kumarmanglam Vijay, Partner and Head (Direct Tax), Amandeep Singh Virk, Principal Associate, Shiv Singhal and Pallavi Mall, Associates, was the legal advisor.

“We are at an ARR of 18cr in FY22 and have closed a pre series A round of Rs 6 CR through a family office and angel investors. With a current customer base of over 40,000 with over 6,000 daily orders, we are looking to take this customer base to over 1.5 lakh and daily orders to over 15,000 taking their ARR to 40 CR in the next 12 months” said co-founder Vikas Singh.

“With this round of funding will give us the much-required boost to focus on both mass media as well as tactical digital campaigns by creating a differentiated brand identity through lively packaging, interactive social media presence, and a strong focus on customer delight,” added co-founder Sahil Chopra.

Happy Nature was formed with the vision to serve the purest dairy and breakfast products to discerning customers in a convenient and efficient manner.

Recalling the initial days, co-founder Parth Birendra enthused, “this wasn’t a fancy tech start-up which investors would just lap up by watching a pitch deck. This was a hard core product business which required the hard yards to be put in and results to be shown before an investor would even bat an eye lid”.

In less than 24 months, revenues have grown by 500% and the brand is getting noticed in the market both by customers and investors.

“We did everything by ourselves, right from production to marketing to delivery to solving customer issues. This first-hand experience of doing everything from ground up has given us the confidence to take this brand to the highest level” said co-founder Vishal Rastogi

Beverage start-up Lahori that sells ‘desi’ packaged aerated drinks has raised $15 Mn in funding from Belgium-based Verlinvest.

With this round, Verlinvest has also acquired an undisclosed minor stake in the Punjab based brand.

“We are delighted to partner with Verlinvest in our journey to become a widely loved beverage brand in the country. We want to give Indian consumers beverage options that resonate with their taste palette,” shared Saurabh Munjal, cofounder and CEO of Lahori by adding that the ethnic beverages market in India is underserved, and they have the vision to become a prominent force in this space.

Lahori sells ‘desi’ (local or indigenous) packaged aerated drinks including nimboo (lemon )soda, kacha aam (raw mango) soda, and shikanji (Indian lemonade), mostly in Punjab.

It plans to use the freshly raised capital to expand production capacity and its presence across the country, while also investing in branding and marketing.

“Given the legacy of our Belgian family shareholders, beverages are a core focus area for us. Lahori has become a dominant player in the space in a very short time, creating a product loved by the masses. Among all the beverage companies we have seen so far in India, Lahori stood out for its taste, product innovation and customer pull. We are excited to work with them on their next leg of growth,” added Shagun Tiwary Shah, an investor at Verlinvest.

Verlinvest is a family-owned investment group that is part of AB InBev that has over 400 beer brands under its management. It has also invested in other Indian startups including Veeba, Epigamia to name a few.

Dosa maker iD Fresh Food on Tuesday announced that it has raised Rs 507 crore Series D round of funding from Hong Kong-based private equity firm NewQuest Capital Partners, others.

The funding round also saw participation from existing investor, Premji Invest, with Helion Venture exiting the Bengaluru-based company at 10x returns.

"The fund raise is yet another milestone in our journey but the ride has just begun. In the coming years, we will expand our presence across channels and geographies, strengthen our supply chain practices and introduce innovative products that will redefine the packaged fresh food space not just in India, but across the globe,” shared PC Musthafa, CEO, iD Fresh Food.

The company is planning to expand its presence in Singapore, Malaysia and other markets in the near future. 

Founded by PC Musthafa, Abdul Naser and his brothers in 2005, iD Fresh had secured $5.2 million in Series A funding from Helion Ventures in 2014 and $25 million from Premji Invest in 2017.

“While there is a large opportunity set in the fresh food space, iD has a clear and as a market leader with its deep understanding of consumer preferences and ability to innovate real-time and define industry benchmarks,” said Amit Gupta, Partner, NewQuest Capital.

The Bengaluru-based brand manufactures and sells ready-to-make foods like idli/dosa batter, parotas, vada batter, chapati, paneer, among others.

Kotak Mahindra Capital acted as the exclusive financial advisor to the company and Helion.

The company is also aiming at strengthening its market leadership in the fresh foods business, foster product innovation, build capacities and expand its presence across key markets in India, the UAE and the US.

“We’re well poised for an aggressive phase of growth with plans to launch an IPO in the next few years, creating a billion-dollar enterprise and solidifying our longstanding leadership position in the fresh food category,” added CFO Jaipal Singa.

Chef Service startup OYCHEF has secured Rs.2.5 Cr seed funding from Growth Stories and others.

It is a Hyderabad based mobile app startup that delivers private chef at home service with a fine dining restaurant and quality cuisine experience.

“What made us commit to OYCHEF is their sustainable business model and the road map to create the largest Personal Chef marketplace on the web and to decentralize the culinary industry, make it accessible to all, help professional chefs grow, and reduce their financial dependence on restaurants.” GrowthStories Co-founders Vinay Kotra, and Sainath Goud Malkapuram who have joined OYCHEF board stated. Manoj Yadav, James Johnson, and Deepthi Dullur are the other directors on board for OYCHEF & Growth Stories.

Shri. Jayesh Ranjan, the Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT), Government of Telangana, formally launched OYCHEF, a private chef on demand app in Hyderabad, which will be available for download in Google Play Store and the App Store.

At present, it has on-boarded 45 chefs and is planning to add an additional 350 Chefs and 1000 freelancer chefs.

The brand is also planning to expand to Bangalore and Goa by 2022.

This expansion will be followed by entry into Mumbai, Pune and Delhi by 2023.

The company is also in talks with investors to raise another Rs. 10 Crores to fuel OYCHEF’s future growth plans which include adding 1000 freelancers to the platform.

 “Every idea starts with a problem. Having first-hand knowledge of the hurdles faced by chefs at various levels in finding employment and sensing a unique opportunity from this experience, I pitched the idea to GrowthStories. With their enormous experience in developing ideas, they quickly understood the need to bridge this unaddressed gap and came on board.” Shruthi Reddy, Early-stage founder and ideator of OYCHEF app service added.

OYCHEF Service connects foodies and chefs of their choice that is affordable, accessible & easy to book for home and parties wherever you are. The startup follows a rigorous Chef onboarding process, and thoroughly checks the background of each chef, as the chef will directly be in touch with the women in the family and deep-down kitchen. OYCHEF Chefs brings South, North, West, East Indian as well as Inter-Continental Cuisines experience to its clients.

Bangalore-based coffee brand Hatti Kaapi has raised Rs100 million (Rs.10 crores) in a 'Pre A series' round funding led by BlueWolf Capital, Investribe, Kochi Holdings and CreedCap Asia.

“F&B' industry is one of the worst affected sectors because of the ongoing pandemic. Being one of the top performers in our segment also has to bear the brunt of COVID forced shutdowns. Thus, this fresh round of capital infusion through fundraising makes it more special,” shared U S Mahendar, Chairman and Managing Director.

The capital raised will be primarily used to expand the brand's retail and cloud footprint to 200+ stores from the existing 115 outlets.

The fund will also be used to scale up its ready-to-use product portfolio under the 'Six Seconds' line of products on both online and offline channels.

The brand also launched contactless kiosks, which cater to the requirement of the present day. During this period,  they also launched new line of ready-to-use products. It includes Six Seconds-ready-to-use Filter Coffee Decoction for brewing filter coffee instantly, immunity booster drinks like Kashaya (spices mix) and Golden Latte (Turmeric mix) and Ooru (coffee powder brand for the mass market).

Commenting on the funding, Sekhar from Investribe added, "In the course of this decade, authentic & regional brands will need to offer multi-products via an omni-channel strategy to be able to own every stage of the customer experience. As early backers in 2017, we have seen the company grow its stores by 14x and believe this is the right team to scale deeper into tier-2 and 3 India. We have also seen them master product standardization due to adoption of modern packaging and food technology."

Despite the various challenges, the homegrown brand has successfully stuck to its ground and has grown exponentially over the last decade. Started in Bangalore in 2009 by Mahendar and Gowda, the company has slowly evolved as one of India's fastest-growing authentic coffee chains, with an enviable portfolio of multi-format cafes and coffee decoction and powder in the FMCG segment. Currently, the brand is present across nine cities with 115 outlets.

Delhi-based liquor Boutique Spirit Brands has raised Rs 80 crore through a combination of equity and debt.

The funding round saw participation from TradeCred, IIFL Private Equity, Anicut Angel Fund, Kae capital and investors like Narendra Madhusudan Murkumbi and Vikramaditya Mohan Thapar Family Trust, shared the release.

"The investment will help to launch new products, scale-up and expand retail footprint as well services to customers across India," said the statement.

TradeCred, India's largest Alternate Debt platform, came in as a debt partner with Rs 60 crore.

"The investment comes at a time when we have big plans of launching premium spirits all over the country. The funding getting closed in such a short span is the testimony of the fact that the investors see a lot of potential in our company and have faith in our team and belief in our vision of expansion," Boutique Spirit Brands Founder & CEO Rahul Gagerna said.

Started in 2016 by Rahul Gagerna, Boutique Spirit Brands (BSB) is a multi-category spirits brand that specialises in manufacturing branded alcoholic beverages in India.

It had earlier raised Rs 6.8 crore in seed funding from KAE Capital in 2018.

Gurgaon-based coffee startup Blue Tokai Coffee Roasters has raised Rs 17 crore in pre-series B bridge round led by Anicut Angel Fund, the equity arm of Anicut Capital.

The round also saw participation from other new and existing investors.

As per the release, the brand will use the fund to launch new products, execute farm-level interventions to improve quality, expand internationally and for marketing.

“Cafes were an important part of that mission, but like many brands, Covid-19 completely upended the economics of that business. We were fortunate to already have a strong D2C (direct-to-customer) presence and by refocusing our efforts on our online sales channels, we’ve been able to grow our revenue nearly 50 per cent more than our pre-Covid peak. The funding we received demonstrates that we saw the pandemic as an opportunity to build a base for the next leg of our growth and we are grateful to partner with investors who share our vision,” said Matt Chitharanjan, Co-founder, Blue Tokai Coffee Roasters.

Also Read: Blue Tokai Coffee to Open 10 more Stores in India

Started in Gurgaon in 2012 with an aim to serve speciality coffee to the customers, it started selling its coffee online and through B2B partnerships.

At present, it also operates cafes in Delhi, Gurgaon, Kolkata, Mumbai and a newly launched café in Hyderabad.

Started by Matt Chitharanjan, Namrata Asthana and Shivam Shahi, the brand refocused on their online business to reach more customers during covid by making high-quality coffee more accessible to people across the country.

They are also present in ready-to-brew and ready-to-drink products.

“We are privileged and delighted to partner with the entire Blue Tokai team as they march ahead in their mission to introduce people to great-tasting coffee grown in India and set a coffee culture through their cafes and website,” added Ashvin Chadha, Co-founder, Anicut Angel Fund.

Rebel Foods that runs cloud kitchens like Faasos, Oven Story Pizza and Behrouz Biryani, is eyeing a valuation of about $1 billion as it is eyeing a new round of funding of $100-150 million.

Rebel runs more than dozen virtual restaurant brands where it sells directly through its own application besides platforms like Zomato and Swiggy. The new funding follows less than six months after the Mumbai-based company raised its previous round of $125 million, which valued it at $525 million.

The contours of the deal are still being discussed and the numbers could change.

The fresh round could see existing backer Coatue Management — a US-based hedge fund — invest about $50 million, while the remaining capital is raised from other new and existing investors. Financial services major Goldman Sachs and Indonesian ride-hailing giant Gojek were some of the other new investors in Rebel, while its early backers include Sequoia Capital India and Lightbox Ventures.

Japan’s SoftBank Vision Fund has also recently expressed interest in the company again, though it is not clear if those talks have progressed. SoftBank had also held discussions with Rebel last year.

Online food ordering space is one of the paragons in the internet led business space. Funding in the food tech space has grown by 35x in the last five years, shares a BCG- Google report. Macro trends such as rising internet penetration, increasing ordering frequency, favorable consumer disposition, expanding reach in smaller tiers and expanding network of restaurants on Food Tech platforms pan India, continue to drive momentum in the industry.

Rebel has witnessed tremendous growth over the last few years. The company is expected to close the year ending March 2020 with total revenues of Rs 600-650 crore and is currently doing monthly revenues of Rs 75 crore.

Rebel is currently running over 325 cloud kitchens across India and has also started overseas expansion into Southeast Asia, Middle East and Europe.

LQI, the Gurugram-based beverage startup, has raised an undisclosed amount of funding from singer turned angel investor Sukhbir Singh. This is Singh’s very first investment in India. 

This investment is a part of $2,00,000 seed funding round that LQI is raising from angel investors. The funds will be used by the startup to increase the production capacity and the geographical expansion to newer markets.

Sukhbir said, “LQI’s core differentiator lies within its exceptional product and technology that targets urban youth to upscale lifestyle on a daily basis and parallelly helping restaurants to offer fresh beverages to the masses without any hassle.”

LQI was founded in mid-2016 by Shubham Khanna, Palak Kapoor, and Kapil Kumar. It utilises its proprietary technology for manufacturing smoothies, milkshakes, and fruit water frozen packs made with 100% raw fresh fruit.

Currently, LQI works on a B2B2C and HORECA (Hotel/Restaurant/Cafe) model. The startup has collaborated with around over 100 B2B brands such as Pitapit, Innerchef, Donor & Gyros, IHOP, Burgrill, etc.

Health food startup Evolve Snacks has raised an undisclosed sum from ITI Growth Opportunities Fund, a venture capital firm. The fresh capital will be used by the company to enter the retail space.

Presently, the company sells through its online portal. Moving forward, it will be collaborating with retail brand chains as well as with traditional FMCG distributors.

In 2018, Investment Trust of India (ITI) Group unveiled an early-stage venture capital fund, ITI Growth Opportunities Venture Fund. This is the capital firm’s third investment after backing smart mobility startup Revos and healthcare firm Ten3t.

The food startup was founded by Angad Sehgal. The company raised its first round in 2017 from 50K Ventures, a Hyderabad-based early-stage investment firm.

Mohit Gulati, CIO & Managing Partner, ITI Growth Opportunities Fund, said, “Today's Indian is more evolved and conscious of their food habits. We are excited to see mass adoption to better tasting healthy offerings in the times to come.”

Teamonk Global, the home grown specialty tea brand, has raised $1 million in pre-series A funding round. This round has been led by former McKinsey Chief Rajat Gupta and Roots Ventures.

The fresh capital will be used by the company for scaling up its portfolio of premium teas and for reaching new geographies.

Japan Vyas, Founder, Roots Ventures, said, “We are pleased to invest in Teamonk, since it is an emerging leader in the curated specialty teas space. We see India is an ‘under beverage’ country – with not many beverage brands and choices. However, with promoters like Ashok and Amit and their years of experience across conglomerates in India and overseas, an interesting ecosystem has been built at Teamonk. This has opened up numerous possibilities in the beverages play with strong overseas market. We look forward to working with them as they go about building the business and the brand.”

Amit Dutta, Co-Founder & Executive Director, Teamonk Global, added, “Teamonk Global aims to reposition tea as an exciting and refreshing beverage, fulfilling the deeper consumer need of ‘Looking Good and Feeling Good’. We are very excited with the repeat buying frequency from consumers and their feedback on our product quality being absolutely top notch. We look forward to establishing Teamonk as a global Indian brand.”

Teamonk was founded by Ashok Mittal and Amit Dutta in 2016. The company sells premium specialty tea sourced from the Nilgiri hills in Tamil Nadu and Darjeeling in West Bengal.

Bengaluru-based MilkLane has raised Rs 27 crore in pre-Series A funding round. The funds have been raised from Pioneering Ventures, Schreiber Foods and ultra-high net worth families.

Gaurav Haran, Chief Operating Officer, MilkLane, said, “The funding is utilised in scaling up the procurement platform and cattle feed business. It is also invested in launching and scaling up the MilkLane UHT (ultra-high temperature) product for consumers in Bengaluru.”

The dairy supply chain start-up is looking to connect with more than one lakh dairy farmers by setting up over 1,000 bulk chillers in the next decade. It has a presence in 500+ premium stores in Bengaluru.

“The company’s asset-light model can be replicated across multiple geographies in the country. Currently, active in the southern states (viz. Tamil Nadu, Andhra Pradesh and Karnataka), the dairy start-up can very easily scale up operations in the west and east as well,” Haran stated. 

He further added, “Additionally, the company plans to strengthen its cattle feed business to support the milk quality requirements and achieved a penetration level of over 50 per cent in its network. Further, the plan is to make the products available to farmer beyond the MilkLane’s network.”

Food-on-demand service Faasos has raised Rs 110 crore funding from existing investors Sequoia Capital India, Lightbox Ventures and Evolvence India as part of its Series-D1round.

The investment comes ahead of a $75-100-million funding round for which Rebel Foods ( Faasos) has held talks with investors such as Multiples Alternative Asset Management, Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, as ET had reported in February.

Jaydeep Barman, Chief Executive Officer of Rebel Foods, said, "Rebel Foods was world’s largest delivery-only or internet restaurant company. Its strategy is to run multiple restaurants from the same cloud kitchen. The company that also owns brands such as Berhouz Biryani, OvenStory currently operates 176 cloud kitchens in 15 cities."

"Once a kitchen is built, we can continuously build multiple restaurant brands from that location. In the past 24 months, we have incubated and scaled seven restaurant brands to more than 100 locations, without incurring any additional expense," Barman added.

The new round is expected to value the company at $400 million. “Rebel Foods seems to have stitched together a much larger round at a higher valuation in which existing investors might not want to take part,” said Vivek Durai, co-founder of paper.vc. 

“This round is an upside for existing backers who have increased their stake in the company at a lower valuation,” he said. Rebel Foods is in the market to raise fresh funds at a time when the foodtech sector in India is attracting massive investment.

Zomato, an online restaurant discovery and food delivery platform, has raised about Rs 441 crore in a fresh round of funding led by Delivery Hero, Naspers-backed German food-tech major. This round has also seen participation from Chinese investors Shunwei Capital and Saturn Shine.

The capital infusion is part of the ongoing Series I round of Zomato. This round is likely to value the Gurgaon-headquartered company at about $2 billion. 

Delivery Hero will pick up 2.26% stake in Zomato, for an investment of Rs 350 crore. While Shunwei Capital is putting in Rs 35.06 crore for a 0.23% stake.

Last year, Berlin-based Delivery Hero sold its Foodpanda India business to ride-hailing platform Ola. This marked Ola's maiden foray into the food delivery space.