- February 27, 2020 / 4 min readThe fresh capital will be used by the company to strengthen its reach in the cities they are present in.
Cookie brand Sweetish House Mafia has secured Rs 12 crore in its pre-Series A funding round from investor Adar Poonawalla, Chief Executive Officer at vaccine manufacturer Serum Institute of India. The funding round has been facilitated by an investment banking firm under Ashika Group, Ashika Capital Limited.
Founded by Neha Sethi and Aakash Sethi in April 2013, the company currently has 12 stores in Mumbai, Pune, Bengaluru, and Kolkata.
Sweetish House Mafia’s bestsellers include its signature Nutella Sea Salt, Double Chocolate Chip, and classic Chocolate Chip cookies.
Mihir Mehta, Senior Vice President, Ashika Capital Limited, said, “Sweetish House Mafia has the status of an iconic neighborhood brand that has immense growth potential, and investment from Adar comes as a great validation.”
The fresh capital will be used by the company to strengthen its reach in the cities they are present in. It will further be utilized to foray into new cities, including Delhi, Hyderabad, Ahmedabad, and Chennai, in India by the end of 2020.
The Mumbai-based company also aims to expand the current product line. It is planning to deploy newer business verticals, including planning to unveil its e-commerce platform soon.
Apart from retailing its mouth-watering cookies via foodtech aggregators like Swiggy and Zomato, Sweetish House Mafia further eyes to unveil more stores.
Aakash Sethi, Founding Partner of Sweetish House Mafia, said, “With the help of the funds raised, we want to further our brand outreach via new experiential stores in more than seven cities across India, including Delhi, Hyderabad, Ahmedabad, and Chennai.”
“We will continue to deepen our reach in existing cities where we have a strong presence and also increase our product range and categories across these geographies. We will deploy some funds to strategically build our team, as we plan to launch our own e-commerce platform shortly,” he added.
Search for top Restaurant Suppliers in your city