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Scandalous Foods raises funds in ongoing Seed round led by New Age India Fund

EntrackrEntrackr · 3m ago
Scandalous Foods raises funds in ongoing Seed round led by New Age India Fund
Medial

Snippets Scandalous Foods raises funds in ongoing Seed round led by New Age India Fund Business-to-business (B2B) Indian sweets brand Scandalous Foods has raised Rs 2 crore in an ongoing seed funding round led by New Age India Fund. The startup has received three term sheets from various investors and a family office which it is evaluating towards closing this round. Prior to this, the company had raised Rs 3 crore in its pre-seed funding round from Indian Angel Network and others back in Feb. 2024. The proceeds will be channeled towards expanding production capacity and strengthening its SME HoReCa (Hotels, Restaurants, and Catering) distribution network, fueling the company’s next phase of growth, Scandalous Foods said in a press release. Co-founded in August 2022 by Sanket S, Scandalous Foods aims to empower the sweets industry for the restaurant sector. With a commitment to quality and innovation, it offers preservative-free sweets with a 6-month shelf life, available in convenient single-serve sizes. Currently a B2B company with aspirations for B2B2C and B2C expansion. Scandalous Foods operates with a focus on cloud kitchens and plans to expand to various food service segments. In the near future, the brand is set to introduce mithai bars and sachets, catering to spontaneous indulgence without the guilt. "At Scandalous Foods, we’re not just selling Indian sweets—we’re working towards becoming the biggest mithaiwala in the unplanned post meal impulse purchase space. This funding is a massive leap forward in our journey to make our sweets a staple in restaurants and catering menus across India. With bigger production, a stronger distribution network, and new products in the pipeline, we’re gearing up to bring our bold, delicious creations to even more people,” said Sanket S, co-founder of Scandalous Foods. Scandalous Foods said that it has experienced 7x growth in calendar year 2024, selling over 2 million cups of Indian sweets across nine cities. The brand has a reach of nearly one million unique consumers through its 27 B2B clients and over 1,500 distribution points. The Nashik-based startup plans to introduce 2-3 new products and expand into new sub-channels within existing markets. Initially focused on key account HoReCa clients, it will now target SME HoReCa and caterers.

Amazon Business corporate gifting store sees 134% growth in festive sale

Economic TimesEconomic Times · 10m ago
Amazon Business corporate gifting store sees 134% growth in festive sale
Medial

- Amazon Business recorded a 134% YoY growth in its corporate gifting store during the first ten days of the Amazon Great Indian Festival 2024. - The period saw a 95% increase in total orders and a 107% rise in customers making a purchase. - Kitchenware, particularly mixer grinders and juicers, showed a significant 5.5x YoY growth and emerged as the most gifted category. - Headphones and speakers were the most popular tech gifting items, while chocolates, dry fruit, and tea-coffee hampers were favored in the snacks and sweets category. - The growth in the corporate gifting store reflects the rapid adoption of e-procurement across India and the evolving needs of modern businesses. - Amazon Business, launched in 2017, serves various institutions and offers over 8,500 GST-enabled products and corporate gifting options.

Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 4m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

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