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Sweetish House Mafia raise Rs 12 crore from Adar Poonawalla

The company was founded in 2013 by Akash and Neha Sethi, a former investment banker in New York and now has 12 stores in the country. India's overall biscuit market is about Rs35,000 crore growing at less than 10%.

ET Bureau|
Last Updated: Feb 26, 2020, 12.23 PM IST
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The funds will be used to widen reach in existing geographies and grow into newer cities as well as expand product portfolio in the gourmet cookies segment.
MUMBAI: Mumbai based cookie brand Sweetish House Mafia has raised Rs12 crore in pre-series A funding from investor Adar Poonawalla, CEO at vaccine manufacturer Serum Institute of India.

The funds will be used to widen reach in existing geographies and grow into newer cities as well as expand product portfolio in the gourmet cookies segment.

“With the help of funds raised, we want to further our brand outreach via new experiential stores in more than seven cities across India. We will deploy some funds to strategically build our team, as we plan to launch our own e-commerce platform shortly,” said Aakash Sethi, the founding partner of SHM.

The company was founded in 2013 by Akash and Neha Sethi, a former investment banker in New York and now has 12 stores in the country. India's overall biscuit market is about Rs35,000 crore growing at less than 10%.

However, premium cookies segment has seen significantly higher growth as companies including Britannia, ITC and Unibic launch pricier variants to cash in the trend of consumers up-trading across packaged food categories.


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