Welcome Guest

Businessex.Com
Home News Beverage start-up Indulge Beverages raises fund from industry leaders

Beverage start-up Indulge Beverages raises fund from industry leaders

Tags: Indulge Beverages, start-up, Beverage, Helion Venture Partners, MarketGate Consulting, Ruchi Soya Industries, Nespresso

April 09, 2015 | COMMENTS ( 0 )

Beverage start-up Indulge Beverages raises fund from industry leaders

In a bid to capture the nascent but high potential premium beverage market, industry stalwarts, Kanwaljit Singh (Ex Co Founder and Senior Managing Director, Helion Venture Partners), Shripad Nadkarni (Director, MarketGate Consulting) and Sarvesh Shahra (Business Head, Foods, Ruchi Soya Industries) have invested an undisclosed amount in upcoming beverage start-up, Indulge Beverages.

“Founded by Kunal Bhagat and Tuhin Jain, Indulge Beverages owns the brand Bonhomia that has launched premium Indian origin tea and coffee capsules brand compatible with Nespresso machines,” said the company’s official release.

The funding arrangement will see the start-up receiving few million dollars over two committed tranches.

Commenting on the investment, Kanwaljit Singh said, “Bonhomia is delivering on a strong emerging consumer trend in India. The consumers are looking for great tasting, convenient and lifestyle brands and Bonhomia satisfies all three. I also see a great potential for the Company to build a global brand, especially with the range of Indian origin tea flavours.”

According to Shripad Nadkarni, “Bonhomia is a brand at the cusp of three major shifts in the Indian consumption landscape: a desire to live life experientially, seeking brands which resonate with ‘my successful trajectory’ and the beverage revolution. Bonhomia is ideally placed to deliver against all three successfully. It has the potential of becoming India’s first truly global beverage brand in a short span of time.”

Speaking about the development, Kunal Bhagat said, “Bonhomia has validated the belief that Indian consumers are looking at evolved food products. Further the brand presents an excellent opportunity to not only tap, but actually grow the market for ‘single serve’ format in India. In about six months of operations, we have had to increase our capacity from 1 million capsules to 20 million capsules.”

“We are currently very well placed in terms of our reach in the B2B as well B2C space. This infusion of capital combined with the industry expertise brought in by the distinguished team of investors will help us expand both our geographic presence as well as product range,” shared Tuhin Jain.

The market for ‘single serve’ Nespresso format coffee is currently estimated to be well north of $10 billion globally. Indulge Beverages holds the first-mover advantage in the Indian market which is estimated at around INR 200 crores. The firm also enjoys the distinction of launching Indian Origin tea capsules compatible with these Single Serve capsule machines providing consumers with more choice.

Established in January 2012, Indulge Beverages launched its premium tea and coffee capsules brand ‘Bonhomia’ in March 2014.

The brand is available through Nature’s Basket, Modern Bazaar and Foodhall gourmet stores across Delhi, Mumbai, Bangalore, Pune and Hyderabad in addition to ecommerce platforms such as bonhomiaworld.com, Snapdeal, Fabmart.com etc.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....