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Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium

EntrackrEntrackr · 12h ago
Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium
Medial

Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium South Indian food brand Sweet Karam Coffee (SKC) is set to raise Rs 30 crore ($3.31 million) in its Series A extension round from existing investors Peak XV Partners and Fireside Ventures. The board at Sweet Karam Coffee has passed a resolution to approve the issue of 19,221 Series A1 compulsorily convertible preference shares (CCPS) at an issue price of Rs 15,609 per share to raise the above-mentioned sum, according to a filing with the Registrar of Companies (RoC). Peak XV Partners will lead the round with an investment of Rs 20 crore, while Fireside Venture Investment will participate with Rs 10 crore, taking the total fundraise to Rs 30 crore in this tranche. As per Entrackr’s estimates, the company’s valuation is expected to rise by 85% to Rs 580 crore (about $64 million) post-money, from Rs 313 crore (around $36.7 million) in its previous $8 million round. Since both participants are existing investors, the round could see additional capital coming in soon. According to the filings, the proceeds from the round will be utilised towards the expansion of the company’s business operations. Founded in 2015, SKC offers authentic South Indian sweets, snacks, and filter coffee made without palm oil, preservatives, or maida, along with condiments, pickles, masalas, and ghee. The company sells via its website, e-commerce, and quick commerce platforms, and claims to serve customers across 32 countries. In April 2025, the company raised $8 million in a Series round led by Peak XV Partners, with participation from existing investor Fireside Ventures. Following the allotment of the latest tranche, Peak XV Partners and Fireside Venture will hold 24.89% and 29.10% stake in Sweet Karam Coffee, respectively. The company’s revenue from operations grew over 4X to Rs 46 crore in FY25 from Rs 11.26 crore in FY24, while losses also increased around 3.3X to Rs 24.78 crore from Rs 7.58 crore.

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Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 10m 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.

Exclusive: Pagarbook turns cashflow positive amid steep valuation drop

EntrackrEntrackr · 10m ago
Exclusive: Pagarbook turns cashflow positive amid steep valuation drop
Medial

Exclusive: Pagarbook turns cashflow positive amid steep valuation drop Pagarbook is raising Rs 10 crore (approximately $1.2 million) in its Series A5 round from Peak XV Partners, at a valuation of Rs 163 crore — representing an 85% drop from its previous funding round. In the current funding environment, survival has become the top priority for startups — even if it means raising capital at a steep discount. This appears to be the case for Pratilipi, which recently raised fresh funds at a valuation more than two-thirds lower than before. Similarly, Pagarbook is raising a small round, accepting an 85% drop in its valuation to stay afloat. Importantly, the firm has also turned cashflow positive as of March 2025, signaling a shift toward sustainable growth alongside the valuation cut. The board at Pagarbook passed a special resolution to issue 1,826 Series A5 CCCPS at an issue price of Rs 54,764.5 to raise the aforementioned sum, according to its recent regulatory filing reviewed by Entrackr. Pagarbook plans to use the fresh capital to support its expansion and growth, as per filings. Entrackr estimates that the company’s valuation has dropped by approximately 85%, from Rs 1,084 crore ($127 million) in its Series A4 round to Rs 163 crore ($19 million) in this round. The round appears to be ongoing, and the Bengaluru-based company is likely to raise additional capital as part of its Series A5 round. Founded in 2019, PagarBook is a staff management platform that helps SMEs streamline HR processes by simplifying attendance tracking, speeding up payment cycles, reducing disputes, eliminating human errors in wage calculations, and facilitating salary payments — all through its flagship workforce management app. It pivoted in 2022 from financial service to software as a service solution provider for Indian SMEs. According to co-founder Rupesh Mishra, Pagarbook currently has an average revenue run rate (ARR) of Rs 60 crore. “We turned cash flow positive in March 2025,” he said. As per the startup data intelligence platform TheKredible, Pagarbook has raised nearly $22 million to date. Following the allotment, Peak XV Partners will have a 21.62% stake in the company. For the fiscal year ending March 2024, the Bengaluru-based company reported an operating revenue of Rs 13 crore and a loss of Rs 70.4 crore, which includes an exceptional item expense of Rs 36.4 crore. Looking at the numbers, two things are obvious. One, that Pagarbook has struggled in the quicksand that is monetising from the Indian SME sector. The sector, for all its numbers in the millions, remains hopelessly disorganised, and plagued by off book transactions. Two, in the course of its struggles and the burn down of an impressive amount of funding, Pagarbook might have discovered something of value or promise to manage a little more funding to test that thesis. It is not the first, or the last firm where this has happened. When you back a bunch of smart people on breaking open an opportunity, even if they fail, they will usually come out with valuable learnings, and sometimes, a different opportunity. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21%

EntrackrEntrackr · 2m ago
Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21%
Medial

Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21% Speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. India’s coffee culture continues to deepen and evolve, even as the market becomes increasingly crowded with new-age brands and speciality chains entering the space. Amid this intensifying competition, speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. According to the company’s consolidated financial statements accessed from the Registrar of Companies (RoC), its revenue from operations rose to Rs 325 crore in FY25, up from Rs 216 crore in FY24. The sale of coffee and related products remained the sole source of revenue for Blue Tokai in the last fiscal year. As per the company’s website, it now operates over 100 stores across India. On the cost front, the company spent Rs 113 crore on the procurement of products against sales of Rs 325 crore during the year. Employee benefit expenses also rose 24% year-on-year to Rs 94 crore in FY25. Meanwhile, expenses related to rent, logistics, marketing, and other overheads pushed total expenditure up by 35.3% to Rs 385 crore in FY25, compared with Rs 284.5 crore in the previous fiscal year. Despite this rise, tighter cost controls and operating leverage from higher revenues helped improve the company’s overall financial efficiency. As a result, Blue Tokai reduced its losses by 20.6% to Rs 50 crore in FY25, from Rs 63 crore in FY24. Key profitability metrics also showed improvement, with ROCE improving to -14.4% and EBITDA margin narrowing to -3.69%. On a unit economics level, the company spent Rs 1.18 to earn every rupee of revenue during the year. The improved scale and operational discipline appear to have reinforced investor confidence. During the year, Blue Tokai raised $25 million in a bridge round from its existing investors, taking its total funding raised to over $110 million to date. While some early coffee brands have exited over the years, new startups continue to enter India’s crowded specialty coffee market. Recently, Toffee Coffee, Notting Coffee and Sweet Karam Coffee raised pre Series A funding, while Chelbess Coffee, First Coffee and Subko Coffee also secured fresh capital from investors. The recent funding activity shows that investors continue to believe in India’s growing coffee market, even as brands focus not just on growth, but also on standing out, managing costs, and moving closer to profitability.

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium

EntrackrEntrackr · 20d ago
Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium
Medial

Exclusive: Good Monk to top up pre-Series A at 2.7X valuation premium Good Monk, the flagship brand of Superfoods Valley, is set to top up its pre-Series A round with Rs 25 crore ($2.7 Mn) in funding, led by existing investor RPSG Capital Ventures, with participation from Sharrp Ventures and others. This will be an extension of the company’s pre-Series A round, following its $2 million raise in April last year led by RPSG Ventures, with participation from Multiply Ventures, Sharrp Ventures, and ThinKuvate. The Good Monk’s board has passed a resolution to approve the issuance of 3,334 pre-Series A4 CCPS at an issue price of Rs 74,652.86 per share, to raise the aforementioned sum, according to its filings with the Registrar of Companies (RoC). RPSG Capital Ventures will lead the infusion with Rs 15.8 crore, followed by Sharrp Ventures, which will invest Rs 4.5 crore. The remaining amount will be contributed by Aashray Family Trust and angel investors Manmohan Singh, Srivar Harlalka, and Narinder Sawhney. According to Entrackr’s analysis, the company’s valuation will jump over 2.7X to Rs 175 crore, from Rs 64 crore in the previous round. The proceeds will be used to scale operations and expand the business. Founded by husband-and-wife duo Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers nutrition products, including multivitamin and probiotic mixes and fiber supplements for kids and adults. It retails through its own website as well as leading e-commerce platforms, including Amazon, Flipkart, Blinkit, and Zepto. The Bengaluru-based company had raised nearly $3 million prior to this round. The startup recently appeared on Shark Tank Season 4 and secured a deal from Vineeta Singh, co-founder of Sugar Cosmetics. Following the infusion, RPSG Capital Ventures will hold a 19.78% stake in the company, while Sharrp Ventures will own 6.81%. The co-founders will collectively retain around a 40.18% stake. RPSG Capital is a notable investor in the health and wellness space and has backed several startups, including Nutrabay, Plix, and True Elements.

Chelvies Coffee raises $1 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Chelvies Coffee raises $1 Mn in pre-Series A round
Medial

Chelvies Coffee raises $1 Mn in pre-Series A round Coffee and dining experience brand Chelvies Coffee has secured $1 million in a pre-Series A funding round led by Endurance Capital, with an additional $500,000 in debt financing currently in process. The proceeds will be used to establish more than 30 high-street locations across major Indian metros by 2026, enhance existing supply chain infrastructure, develop proprietary food production systems, and strengthen operational teams, Chelvies Coffee said in a press release. Launched in 2023 by Dhruv Singh, Chelvies Coffee is a specialty coffee restaurant brand that combines premium coffee offerings with fresh, high-quality dining options. With six locations across Delhi NCR and Ahmedabad, the company aims to empower the Indian coffee shop experience through its commitment to quality, innovation, and exceptional customer service. The Delhi-based brand offers an extensive menu of over 70 specialty coffee brews, complemented by a curated dining menu that includes burgers, artisanal sandwiches, and pasta—all produced through in-house facilities. The company’s proprietary supply chain system, supported by centralized dispatch units and base kitchens, enables it to deliver a refined experience efficiently and at scale. According to market research, India's cafe industry is projected to grow at a CAGR of 15-20%, reaching $2.6-3.2 billion by 2028. Chelvies claims it has achieved a monthly run rate of INR 1.30 crore, with demonstrated profitability at each store level. The company aims to transform India’s coffee culture with a European-inspired concept that blends premium specialty coffee with an elevated dining experience.

Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared

EntrackrEntrackr · 1y ago
Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared
Medial

Subko Coffee has raised Rs 80 crore in a new round led by Zerodha co-founders-backed NKSquared, said two sources aware of the investment. Several individuals along with Blume Ventures and Progressive LLP also participated in the financing round. “NKSquared has put in around Rs 70 crore whereas the remaining Rs 10 crore came from other investors,” said one of the sources requesting anonymity as talks are yet to be public. The company has received $5.5 million (Rs 45 crore) and NKSquared has already invested Rs 34.2 crore, according to the Subko Coffee regulatory filings with the Registrar of Companies (RoC). Blume Ventures and Progressive Strategies LLP collectively invested Rs 4.75 lakh. Pallavi Dempo, Suprapadh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta also took part in the financing round. As per sources, NKSquared has also acquired a 25% stake in the Mumbai-based firm. Subko Coffee has been valued at around $35-40 million (post-money), said the person quoted above. Queries sent to Subko Coffee NKSquared and Subko Coffee didn’t elicit any immediate response. We will update the story in case they respond. NKSquared was incorporated by Kamath brothers in 2019 but it became active last year and backed a few companies, including Nazara Games. Subko Coffee provides caffeinated drinks along with baked bread-pastries and coffee roasters. According to its filings, several celebrities such as Gauri Khan, Tiger Shroff, and others invested in the company between June 2022 to December 2023. Subko Coffee has been growing at a rapid clip and this could be evident from its growth in the last fiscal year. Its revenue spiked 94% to Rs 13.57 crore in FY23 from Rs 7 crore in FY22 while the firm’s losses stood at Rs 9.86 crore in the same period. Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.

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