The market for â€˜single serveâ€™ Nespresso format coffee is currently estimated to be well north of $10 billion globally
Delhi based Indulge Beverages which owns the brand Bonhomia has raised $1 million in angel round of funding from HNI's lead by Alok Rawat, president of FGWilson and an early investor in Grey Orange Robotics as well as Neeta Mirchandani from Kae Capital and his former investor Kanwaljit Singh, Ex Co Founder& Senior Managing Director, Helion Venture Partners).
The tea and coffee capsules brand has also infused $ 2 Million from group of investors in April 2015.
"We have sold over 1 lakh capsules in the last month. We will use the funds to expand and improve our back-end capabilities and develop our team," said Kunal Bhagat, cofounder, Indulge Beverages.
The funds will be used to expand the group’s retail presence in the country.
In October 2015, the company launched brewing machine and claims to have sold 2,000 machines in 3 months.