Consumer brand Sweet Karam Coffee and agritech marketplace Fruitfal have secured early-stage funding, the companies said on Monday.
Chennai-based Sweet Karam Coffee has raised $1.5 million (Rs 12.5 crore) in funding from early-stage consumer-focused venture capital fund Fireside Ventures.
The company plans to use the fresh funds for offline expansion, penetrating across new geographics and strengthening its product portfolio.
Founded by Anand Bharadwaj, Nalini Parthiban, Srivatsan Sundararaman and Veera Raghavan, Sweet Karam Coffee is a South Indian snacking brand that currently serves a range of South Indian Sweets and snacks free from palm oil and preservatives, in addition to filter coffee and ready meal mixes.
It has a range of snacks from Tamil Nadu and Kerala and soon plans to expand its portfolio of Karnataka and Andhra snacks.
“With Fireside’s portfolio of building direct-to-consumer (D2C) brands, we are excited to partner and work together with them to make Sweet Karam Coffee a global South Indian FMCG snacking brand,” said Parthiban.
Fruitfal has secured an undisclosed amount from India accelerator's angel investors' network iAngels.
The startup will deploy the fresh proceeds to improve its technology stack as well as expand its market presence across India.
Fruitfal is an agritech firm, which provides a platform for sourcing fresh and processed agricultural products. The agritech company is dedicated to building advanced cloud and mobile technologies to streamline the fragmented agri-value chains to provide verified sourcing to the Indian market.
“With this fundraising round, we’ll be able to unlock opportunities to improve our offerings, grow and expand our market presence,” said Subir Sharma, co-founder, Fruitfal.
