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Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners

EntrackrEntrackr · 2m ago
Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners
Medial

Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners Hunger Inc, the parent company of Bombay Sweet Shop and restaurant brands Bombay Canteen, Veronica’s, O Pedro and Papa’s, has raised Rs 215 crore (nearly $25 million) in a new funding round from Lighthouse and DSG Consumer Partners. The round also saw some of its early investors, including CP Gurnani and a few angels, exit via secondary deals. The Mumbai-based company had previously raised $1.69 million in a seed funding round. The Godrej family office is an existing backer of Hunger Inc. The proceeds will be used to expand its production and supply chain capabilities as it looks to increase its footprint outside Mumbai, Hunger Inc said in a media statement. Founded in 2014 by Sameer Seth, Floyd Cardoz, and Yash Bhanage, Hunger Inc operates restaurants, a food magazine, and promotes a team-oriented work culture. Bombay Sweet Shop, its retail brand for Indian sweets, chocolates, and confectionery, now contributes over half of the group’s total revenue. In fiscal 2025, the company clocked Rs 115 crore in revenue with a 9% Ebitda margin and it is expecting to post a topline of Rs 150 crore in FY26. Bombay Sweet Shop is tracking Rs 8-9 crore in monthly revenue. Currently present only in Mumbai, Hunger Inc is planning to expand to Delhi and set up a flagship Bombay Sweet Shop there over the next 12-18 months. At present, the brand has five retail outlets and 18 dark stores, through which it makes direct deliveries from its own website and also through aggregators Swiggy and Zomato. Hunger Inc aims to scale its business-to-business (B2B) and institutional sales. The company supplies to cafe chain Starbucks as well as Oberoi Hotels. Bombay Sweet Shop also recently onboarded IndiGo for in-flight items in the international business class.

Libas raises $18 Mn in maiden external round from ICICI Venture’s fund

EntrackrEntrackr · 1y ago
Libas raises $18 Mn in maiden external round from ICICI Venture’s fund
Medial

Fast fashion omnichannel ethnic wear brand Libas has raised Rs 150 crore ($18 million) by IAF Series 5, a fund managed by ICICI Venture. This is the first external funding round for the decade-old company. Libas will strengthen its omni-channel presence and ramp up its exclusive brand and retail outlets across key metros and tier I, II, and III cities over the next few years, the company said in a press release. Libas also plans to leverage its brand, design capabilities, technology infrastructure, and supply chain network across channels to create the omnichannel business. Led by Sidhant Keshwani, Libas offers ethnic wear and comfortable fusion silhouettes with an online presence on platforms such as Flipkart and Myntra, alongside offline presence through EBOs, large format stores and multi-brand outlets. It solely focuses on women’s fashion. According to the Delhi-based company, a significant portion of the revenue comes from the brand’s own D2C channels. Recently, the brand announced Bollywood actress Kiara Advani as its brand ambassador. Libas claims that it crossed Rs 500 crore revenue mark in FY24 and the projection seems pretty much feasible as the firm posted Rs 365 crore in operating revenue in the fiscal year ending March 2023. During the same period, its profit stood at Rs 13.8 crore. Several fast fashion brands have raised funds in the past couple of years. The list counts Newme, DSLR, French Crown and Virgio, a startup launched by former Myntra’s CEO Amar Nagaram. As per a media report, Virgio was planning to return most of the capital it raised from the investors after a failed pivot.

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