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Spice brand Zoff raises Rs 40 Cr in Series A from JM Financial

EntrackrEntrackr · 11m ago
Spice brand Zoff raises Rs 40 Cr in Series A from JM Financial
Medial

Spice brand Zoff has secured Rs 40 crore ($4.8 million) from JM Financial Private Equity through JM Financial India Growth Fund III. The company had previously secured funding in Shark Tank India from boAt’s co-founder Aman Gupta The proceeds will be used to launch new products and expand the business into new segments such as ready-to-cook, condiments, cooking pastes & seasoning kits and strengthen its offline distribution network through general trade, modern trade channels and other retail outlets, Zoff said in a press release. Co-founded in 2018 by Akash and Ashish Agrawal, Zoff specializes in high-quality spices. The brand offers a curated selection of spices, dry fruits, and whole food products. It focuses on providing high-quality ingredients that elevate consumer culinary creations’ taste and health benefits. According to the Raipur-based company, it has a fully automated manufacturing unit which utilizes cold grinding technology to preserve the flavor and aroma of raw spices. The brand claims that its multi-layered ziplock packaging ensures the spices remain fresh for an extended period. Zoff says that it has created a robust online presence by focusing on quick commerce and empowered spices market in a short period of time, registering a profitable revenue over the years. The company is looking to penetrate deeper into the tier-II and tier-III cities. The company also claims that it competes with other big brands like Everest and MDH.

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The Bear House raises Rs 50 Cr in Series A round led by JM Financial

EntrackrEntrackr · 3m ago
The Bear House raises Rs 50 Cr in Series A round led by JM Financial
Medial

The Bear House raises Rs 50 Cr in Series A round led by JM Financial The Bear House, a popular men’s fashion brand, has raised Rs 50 crore ($5.84 million) in its Series A round led by JM Financial India Growth Fund III. The proceeds will be used to open more physical stores, boost branding efforts, and meet working capital needs. The Bear House sells products like shirts, t-shirts, jeans, and footwear. It has mainly been sold online through platforms like Myntra, Flipkart, and Nykaa. Led by Harsh Somaiya, the firm opened its first physical store in Bengaluru in March 2025. It now plans to launch 20 more stores across India in the next two years. The Bengaluru-based startup claims to have already built a Rs 150 crore online brand while staying profitable and self-funded until now.

JM Financial Private Equity invests Rs 45 Cr in Clear Premium Water

EntrackrEntrackr · 1y ago
JM Financial Private Equity invests Rs 45 Cr in Clear Premium Water
Medial

Bottled water brand Clear Premium Water has raised rs 45 crore ($5.4 million) in a new round from JM Financial Private Equity. Proceeds from the investment will support brand-building initiatives and enhance the existing capacities and distribution network of the company, Clear Premium Water said in a press release. Founded by Nayan Shah, the company is one of the notable players in the HoReCa (hotels, restaurants & cafés) segment and is gaining a footprint in the retail market in India. With a pan-India footprint, the company is strategically expanding its distribution across the nation. In December, the Ahmedabad-based company acquired 51% majority stake in Pune-based Kelzai Secrets Pvt Ltd. Kelzai offers volcanic water in PET and glass bottles. Last year, the firm also announced the launch of its natural mineral water brand NubyClear (NU) in India. This is the fifth investment from JM Financial Private Equity’s Fund III. Previously, it backed PharmEasy, BigHaat Agro and Silverpush, among others.

JCB Salons India raises Rs 40 Cr from Blacksoil for strategic expansion

EntrackrEntrackr · 1y ago
JCB Salons India raises Rs 40 Cr from Blacksoil for strategic expansion
Medial

Salon chain JCB (Jean Claude Biguine) Salons India has raised Rs 40 crore ($4.8 million) from alternative credit platform Blacksoil. JCB Salons has utilised the funds to acquire Spalon, a homegrown salon chain, for expansion into South India, the company said in a press release. The capital will also be used for working capital and creating operational efficiencies for the group. Launched in 2006 in India, JCB Salons operates around 18 salons in Mumbai, Pune, and Bengaluru. The company claims to serve 1,500 customers per month. Globally, it runs operations in 20 countries with 400 salons and spas. Spalon is a spa and salon brand with over 27 branches across Southern India. Combining JCB’s expertise and Spalon’s understanding of the domestic market, the joint entity eyes a foothold in West and South India markets. In February last year, JCB Salon’s long time chief executive Samir Srivastav quit the company to join Looks Salon as CEO. JCB Salons raised Rs 157 crore (nearly $19 million) to date and counts RARE Enterprises, the investment arm of late Rakesh Jhunjhunwala as a key investor. JCB Salon India saw its operating revenue increase to Rs 50.66 crore in FY23 from Rs 34.63 crore in FY22. During the period, the firm turned profitable with Rs 1 crore profit from Rs 57 lakh loss in the previous fiscal year. As per the company, it achieved 5-6% year-on-year growth in FY24. However, the company is yet to file audited annual financial statements for the last financial year. As per industry reports, the Indian beauty market is projected to reach approximately $580 billion by 2027, with an estimated growth of 6% annually. Of late, a clutch of legacy and established businesses have raised strategic money from institutional investors. In May, 17-year-old performance wear brand TechnoSport raised $21 million from A91 Partners in its first external fundraise. In the same month, fast fashion omnichannel ethnic wear brand Libas also raised $18 million by ICICI Venture’s fund IAF Series 5 in its maiden external funding.

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