Hyderabad based craft chocolate brand Manam Chocolate is in discussions to raise its first institutional funding round, signalling growing investor interest in India’s premium and artisanal chocolate segment. According to sources familiar with the matter, the company is in advanced talks with Omnivore, a venture capital firm known for backing agribusiness and consumer brands.
The proposed round is expected to be in the range of $5 million to $10 million, though the final size may be revised if both parties align on a more aggressive expansion plan. The capital, if finalised, would mark Manam Chocolate’s maiden venture funding since its inception. The company and Omnivore declined to comment on the development.
Founded in 2023 by Chaitanya Muppala, Manam Chocolate has quickly built strong brand recognition in Hyderabad’s premium food and beverage scene. Unlike most chocolate makers in India, Manam operates a vertically integrated model, controlling the entire value chain from cacao cultivation to finished chocolate sold through its own retail outlets. This approach has helped the brand position itself as a differentiated player in a market dominated by mass produced chocolate.
Manam’s philosophy centres on preserving the natural flavour characteristics of cacao, a contrast to industrial chocolate manufacturing that prioritises consistency and scale. The brand has repeatedly highlighted the limitations of conventional bean to bar production in India, arguing that starting with cacao beans rather than the fruit restricts flavour development and product depth.
India’s craft chocolate category remains relatively small but is gaining momentum as urban consumers show increasing willingness to pay for premium, ethically produced food products. Industry observers note that rising disposable incomes, exposure to global food trends and interest in traceable sourcing are driving demand.
If the funding materialises, Manam Chocolate is expected to channel capital into expanding its farming operations, strengthening production capabilities and entering new regional markets. The move would also underscore how niche food brands with strong sourcing narratives are beginning to attract mainstream venture capital attention.
