Mumbai-based dessert maker The Parfait Co. has raised an undisclosed amount of seed funding from Mumbai Angels, a company statement said.
The firm will use the capital for team-building, expanding operations and sales support, and product innovation, the statement added. The company, which claims to be India's only brand manufacturing French parfait, will also launch smaller stock-keeping units to increase its footprint.
Launched by Sharmeen Indorewala in October 2014, The Parfait Co. offers a menu of twelve flavours of French style parfait, a frozen dessert made of whipped cream, eggs, and fruit. Indorewala, an alumnus of hospitality management institute Le Cordon Bleu Paris and IHM Mumbai, was a patisserie chef at Mumbai-based bar and bistro Nico Bombay before starting up.
“Sharmeen has created a fabulous product which is not only differentiated but also of international standard and quality,†said Vikas Khemani, who led the deal on behalf of Mumbai Angels.
A group of angel investors, Mumbai Angels provides angel and seed-stage capital. It typically invests between $200,000 and $500,000 in its portfolio companies.
Recent investments made by Mumbai Angels include Delhi-based marriage registration portal Register My Marriage, which secured seed investment in January this year.
In the same month, Delhi-based tea e-tailer Vahdam Teas raised Rs 4.4 crore ($650,000) from early-stage investment firm Fireside Ventures’ Kanwaljit Singh, Mumbai Angels and Singapore Angel Network.
In December 2016, Mumbai Angels, along with alumni-focused angel network Lead Angels and online deal-making platform LetsVenture, backed online event booking platform BookEventZ in a pre-Series A round.
Cloud-based content delivery platform WittyParrot secured seed investment worth Rs 3 crore ($450,000) from Mumbai Angels and some Silicon Valley-based angel investors in December 2016.
In November 2016, Mumbai Angels had participated in the seed investment round of human resources technology startup DoSelect, along with TV Mohandas Pai’s family fund 3one4 Capital. Prior to that, it participated in a pre-Series A round in adtech startup MintM.