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Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 3m 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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abCoffee raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
abCoffee raises $3.4 Mn in Series A round
Medial

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

Mindgrove raises $8 Mn in Series A funding round

EntrackrEntrackr · 6m ago
Mindgrove raises $8 Mn in Series A funding round
Medial

Mindgrove Technologies, a fabless semiconductor design startup, has raised $8 million in a Series A funding round co-led by Rocketship.vc and Speciale Invest. The round also witnessed participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel. The Chennai-based startup had previously secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital back in early 2023. The proceeds will be utilized to expand its workforce, enhance its in-house engineering capabilities, and accelerate production and sales of the first chip, Mindgrove said in a press release. Co-founded in 2021 by Sharan Jagathrakshakan and T.R. Shashwath, Mindgrove is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. The company designs high-performance SoCs with advanced features at competitive prices for the Indian and global markets. According to Mindgrove, it has launched “Secure IoT,” a commercial-grade high-performance microcontroller SoC (System-on-Chip) taped out at 28nm. Designed for electronic devices that are transforming into “smart” connected devices like watches, meters, locks, and access control units, as well as for powering devices like printers and PoS machines. The chip is on schedule to reach the market by mid-2025. Mindgrove has received approval under the Government of India's Semiconductor Design Linked Incentive (DLI) scheme, amounting to Rs 15 crore, for developing a new chip, “Vision SoC,” meant for high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, smart TVs, and more.

Scapia raises $40 Mn in Series B led by Peak XV

EntrackrEntrackr · 3m ago
Scapia raises $40 Mn in Series B led by Peak XV
Medial

Scapia raises $40 Mn in Series B led by Peak XV Travel fintech company Scapia has raised $40 million in its Series B round led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3State Ventures. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI, and accelerate its ambitious growth plans, Scapia said in a press release. According to the company’s regulatory filings, it has secured Rs 289 crore ($34 million) so far, with the remaining funds expected soon. In this round, Peak XV Partners took the lead, investing Rs 218 crore ($25.6 million), followed by Elevation Capital with Rs 62.28 crore ($7.3 million) and 3State Ventures contributing Rs 8.65 crore ($1.02 million). According to a separate resolution, the Bengaluru-based company also expanded its ESOP pool by 3,460 ESOP options. The newly added ESOP will be valued at Rs 22 crore, while the total pool now stands at Rs 132 crore (approximately $15.5 million). Entrackr estimates that the company’s post-money valuation stands at Rs 1,645 crore or $193.5 million. The valuation may vary after completion of the round. Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Scapia’s co-branded card with Federal Bank offers great value with no joining or annual fees, zero forex markup, and free unlimited domestic lounge access and airport perks based on monthly spending. Cardholders get 10% rewards on all purchases and 20% rewards on travel bookings made through Scapia. Scapia has raised over $70 million to date, including its $23 million Series A round led by Elevation Capital and 3State Ventures in November 2023. According to startup data intelligence platform TheKredible, Peak XV Partners became the largest external shareholder with a 13.74% stake, followed by Matrix Partners at 13.68%. Its FY24 appeared to be the first operational year, recording a revenue of Rs 17 crore while incurring a loss of Rs 88 crore during the same period. The company competes with the likes of One Card, which posted Rs 1,425 crore revenue, and Zolve, which stood at a revenue of Rs 67.8 crore in the fiscal year ended March 2024.

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

EntrackrEntrackr · 5m 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.

First Coffee raises $1.2 Mn in seed round led by BEENEXT

EntrackrEntrackr · 9m ago
First Coffee raises $1.2 Mn in seed round led by BEENEXT
Medial

Speciality coffee brand First Coffee has raised $1.2 million in its seed round led by BEENEXT. The round also saw participation from other investors such as Ashish Gupta (Helion Venture Partners), AngelList India, Dr. Ritesh Malik (founder, Innov8), Sahil Malik (founder, Da Milano), Chandini Purnesh (Owner, Harley Coffee Estate), Aman Arora (co-Founder, Board – Keventers), Agastya Dalmia (director, Keventers), Aman Bahel (Apex Group), Nakul Dev Chawla (Art Mumbai) and Dr. Shriram Nene. The proceeds will be used to drive the company’s expansion and bring its premium specialty coffee experience to more locations across the country, the company said in a press release. First Coffee aims to expand its store presence in key urban areas across New Delhi and NCR and tier I cities in North India. First Coffee will focus mainly on small format QSR outlets in high-footfall areas such as malls, corporate parks, high streets and metros. The company is set to open 35 stores across the country by the second quarter of next fiscal year. The funds raised will also be used for hiring and amplifying marketing efforts. Founded by Sohrab Sitaram and Shiv Dhawan in 2024, First Coffee combines design, culture and a new customer experience, with premium coffee. It integrates experiential big data with analysis powered by AI, creating a technology-driven retail model. Using shade-grown coffee and eco-friendly methods like man-made lakes for irrigation and traditional insect traps, First Coffee claims that its coffee is sustainably sourced while providing premium quality. As per Customer Market Insights, the Indian coffee market is projected to reach $1227.47 million by 2032, growing annually at a 9.87% CAGR from 2024 to 2033.

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