Cumin Co Raises $5 Million Pre-Series A Led by Fireside Ventures to Scale D2C Kitchenware Business in India

Growth

January 22, 2026

Gurugram based direct to consumer kitchenware startup Cumin Co has raised $5 million, or roughly ₹41.5 crore, in a pre Series A funding round as it looks to scale its product and distribution footprint across India. The round was led by Fireside Ventures, with participation from Huddle Ventures and Alteria Capital, according to people familiar with the development.

The funding also drew interest from a group of angel and strategic investors, including Atrium Angels, Mokobara cofounders Sangeet Agrawal and Navin Parwal, Tracxn cofounder Abhishek Goyal, along with other founders and operators from the consumer and startup ecosystem.

Founded in 2024 by Niharika Joshi and Udit Lekhi, Cumin Co operates in the fast growing premium kitchenware segment. The company designs and manufactures a range of products spanning cookware, bakeware and everyday kitchen tools, positioning itself as a modern, design led alternative to traditional kitchen brands. The startup currently offers over 100 stock keeping units through its own website and digital channels.

The fresh capital will be deployed across multiple areas of the business, with a strong focus on building long term product differentiation. The company plans to invest significantly in research and development to expand its product portfolio and improve material innovation and usability. Alongside this, Cumin Co is looking to widen its distribution reach beyond its current online presence and strengthen brand visibility.

Talent acquisition is another key priority, as the startup looks to build deeper capabilities across design, supply chain, marketing and operations. Joshi said the company is focused on creating a strong foundation rather than chasing rapid scale, with investments planned across product expansion, channel growth, brand building and team development.

The funding comes at a time when Indian consumers are increasingly upgrading to higher quality, design focused kitchen products, creating opportunities for new age homegrown brands to challenge legacy players.

India Enters Smirnoff’s Global Top Five as Diageo’s Minty Jamun Fuels Growth

Business

SnackTeam

January 22, 2026

India has emerged as one of Smirnoff’s five largest global markets, underscoring the growing importance of the country within Diageo’s international spirits portfolio. The milestone has been driven largely by strong consumer response to locally developed flavoured variants, most notably Minty Jamun, which has reshaped the growth trajectory of the Smirnoff brand in India.

Speaking to analysts after the company’s latest quarterly results, Diageo India Chief Executive Praveen Someshwar said flavour-led innovation tailored to Indian tastes has played a decisive role in expanding the brand’s footprint. He noted that Minty Jamun has not only accelerated volumes for Smirnoff but has also lifted performance across Diageo’s broader whites portfolio, validating the company’s India-first product strategy.

The update came alongside Diageo India’s October to December performance, which the company described as steady despite regulatory and pricing pressures in key states. Excluding Maharashtra, where policy changes have disrupted parts of the liquor market, the company’s prestige and above portfolio posted volume growth of around 6 percent during the quarter, while net sales value rose 14 percent. Adjusting for a one-off retail pipeline build-up in Andhra Pradesh in the previous year, volumes in this segment were largely stable.

Someshwar pointed out that pressure in Maharashtra has been most pronounced in lower-priced categories, following the introduction of locally produced spirits at more affordable price points. This, he said, has intensified competition at the bottom end of the market while supporting a healthier national price mix, which stood at roughly 10 percent for the quarter.

To protect share, Diageo India has increased focus on sharper pricing, smaller pack formats and in-market activation for mass brands such as McDowell’s and Royal Challenge. Looking ahead, the company remains cautiously positive on demand trends, citing early signs of improving consumer spending and seasonal uplift. Diageo also expects potential benefits from the India UK free trade agreement to begin reflecting in financials later in the year, once existing inventory cycles normalise.

Healthy Master Targets ₹500 Cr Revenue in Five Years, Bets Big on Quick Commerce and Global Expansion

Growth

SnackTeam

January 22, 2026

Bengaluru-based healthy snacking brand Healthy Master is charting an aggressive growth path, aiming to build a ₹500 crore business over the next five years by leaning into quick commerce and overseas markets while maintaining profitability.

Founded in 2019, the bootstrapped startup has seen its scale accelerate sharply over the past year. The company closed FY25 with revenue of ₹9.23 crore and expects this to more than double to ₹20 crore in FY26. Revenue is projected to reach ₹40 crore in FY27 and about ₹75 crore by FY28, translating into near triple-digit annual growth, according to cofounder and CEO Tarun Agrawal.

A key driver of this momentum is quick commerce, which already contributes nearly half of Healthy Master’s sales. That share is expected to rise to 60 percent in the near term and as much as 75 percent over the next year. The brand is present across major rapid-delivery platforms including Blinkit, Zepto, Swiggy Instamart, Flipkart Minutes, Amazon Now, BigBasket and FirstClub. Since its nationwide rollout in January 2025, monthly orders have climbed to around 75,000, growing at roughly 20 percent month on month.

Despite operating in a price-sensitive snacking category, Healthy Master has stayed profitable. It ended FY25 with an EBITDA margin of about 7 percent and currently reports 8 to 10 percent margins on quick commerce channels, supported by gross margins of roughly 65 percent. To broaden its consumer base, the company has introduced ₹30 snack packs as portion-controlled options, alongside a portfolio of more than 250 SKUs, with baked and non-fried products seeing the strongest traction online.

Offline expansion is being approached cautiously. After earlier challenges with returns and delayed payments, the company is prioritising organised retail over general trade. Products are already available on DMart Ready in Bengaluru, with discussions underway with chains such as DMart and Reliance Freshpik.

International markets form the next leg of growth. Following its entry into the US, Healthy Master plans launches in Singapore, Dubai, Canada and the UK, with a presence targeted across eight to ten countries by the end of 2025. To support this phase, the company is preparing to raise about ₹3 crore in its first external funding round, earmarked for inventory, product development and selective brand building.

Eternal Q3 FY26 Profit Jumps 73% to ₹102 Cr as Blinkit Fuels 202% Revenue Surge

Growth

SnackTeam

January 22, 2026

Eternal Limited, the parent company of Zomato and Blinkit, delivered a sharp jump in both revenue and profitability in the third quarter of FY26, underlining the growing weight of quick commerce in its business mix.

The Gurugram-based company reported a consolidated net profit of ₹102 crore for the October to December quarter, up 73 percent from ₹59 crore a year earlier. Revenue from operations surged to ₹16,315 crore, more than three times the ₹5,405 crore recorded in the same quarter last year. On a sequential basis, revenue rose 20 percent from ₹13,590 crore in Q2 FY26.

A large part of this jump came from a structural shift in Blinkit’s business model. With the move to inventory ownership, Eternal now reports the full value of goods sold as revenue rather than just commissions. Adjusted for this change, revenue grew 64 percent year on year. Blinkit emerged as the single largest growth driver during the quarter.

Quick commerce revenue climbed to ₹12,256 crore from ₹1,399 crore a year ago, supported by scale expansion and accounting changes. Net order value in the segment rose 121 percent year on year, while like-for-like growth stood at about 130 percent. Blinkit added 211 net new stores during the quarter, taking its network to 2,027 outlets.

For the first time, Blinkit reported a positive adjusted EBITDA on a quarterly basis, posting a profit of ₹4 crore compared with a loss of ₹156 crore in the previous quarter.

Zomato’s core food delivery business continued to grow steadily, with revenue rising 29 percent year on year to ₹2,676 crore. The segment reported an adjusted EBITDA margin of 5.4 percent, the highest so far, with profits of ₹531 crore.

Hyperpure, the B2B supplies arm, recorded 33 percent revenue growth to ₹1,070 crore and turned EBITDA positive for the first time.

The company also announced a leadership transition alongside its results. Founder Deepinder Goyal will step down as Managing Director and CEO from February 1, 2026, and is set to take on the role of Vice Chairman, subject to shareholder approval. Blinkit CEO Albinder Singh Dhindsa will assume charge as the new CEO of Eternal.

Deepinder Goyal Steps Down as Eternal CEO, Blinkit’s Albinder Dhindsa Takes Charge as New Chief Executive

Business

SnackTeam

January 21, 2026

Eternal Ltd, the parent company of Zomato and Blinkit, has announced a significant leadership transition, with founder Deepinder Goyal stepping down from the chief executive role and moving into a board-level position. Subject to shareholder approval, Goyal has been appointed Vice Chairman and Director of the company for a five-year term, marking a shift from day-to-day operations to strategic oversight.

The board has named Blinkit CEO Albinder Singh Dhindsa as the new Chief Executive Officer of Eternal. Dhindsa will now lead the overall vision, product strategy, and execution across the group’s businesses, which include food delivery platform Zomato and quick commerce arm Blinkit.

The change comes at a time when Eternal is reporting strong financial momentum. For the third quarter ended December 31, 2026, the company posted a consolidated net profit of ₹102 crore, reflecting a year-on-year increase of nearly 73 percent compared to ₹59 crore in the same period last year. The performance was supported by growing demand for fast delivery services, particularly in the quick commerce segment.

Dhindsa brings long-standing experience within the Zomato ecosystem. Before founding Blinkit in 2013 along with co-founder Saurabh, he served as head of international expansion at Zomato, where he was responsible for building the company’s global footprint. Under his leadership, Blinkit has emerged as one of India’s leading rapid delivery platforms, playing a central role in Eternal’s growth story.

Goyal, who founded Zomato after a stint at Bain and Company, will continue to remain closely involved with the business through his new role on the board. His appointment as Vice Chairman signals continuity at the top, even as operational leadership passes to a new chief executive.

The restructuring reflects Eternal’s evolving priorities as it balances profitability, scale, and innovation across food delivery and quick commerce, two segments that continue to see intense competition and rising consumer demand in India’s digital economy.

BERO Valuation Crosses $100 Million After Paine Schwartz Partners Investment in Non-Alcoholic Beer Brand

funding

SnackTeam

January 21, 2026

Non alcoholic beer maker BERO has crossed a major milestone after securing fresh capital from global private equity firm Paine Schwartz Partners, pushing the company’s valuation beyond the 100 million dollar mark. The investment underscores growing investor confidence in the fast expanding non alcohol and wellness beverage segment, particularly among younger consumers seeking alternatives to traditional beer.

The investment was made through BetterCo Holdings, a newly launched investment platform backed by Paine Schwartz that focuses on scaling high growth brands across food, beverage and wellness. BetterCo Holdings was set up in November 2025 and has already built a selective portfolio that includes energy drink brand Lucky Energy and functional snack company Crisp. BERO is among its first beverage focused bets.

While the company has not disclosed the exact size of the investment, people familiar with the deal said the funding values BERO at more than 100 million dollars, placing it among a small group of non alcoholic beer brands globally to reach that level. The capital will be used to expand production capacity, strengthen distribution across key markets and invest in brand building, according to industry sources.

BERO’s existing backer Imaginary Ventures, which invested at an early stage, also participated in the round, signalling continued conviction in the brand’s long term growth story. Imaginary Ventures has previously backed several consumer focused brands in food, fashion and wellness.

Founded to tap into the rising demand for alcohol free social drinking, BERO has positioned itself at the intersection of taste, lifestyle and moderation. The brand has seen steady traction in urban markets, driven by changing consumer attitudes towards alcohol, health and fitness, as well as stronger retail and on trade presence.

Market analysts note that the global non alcoholic beer category has been growing at a faster pace than traditional beer in several regions, supported by innovation, improved taste profiles and premium positioning. With fresh institutional capital and a valuation north of 100 million dollars, BERO is now expected to accelerate its push in an increasingly competitive but rapidly maturing segment.

33&Brew Raises ₹20 Crore in Series A Funding Led by Optimistic Capital

Growth

SnackTeam

January 21, 2026

Bengaluru’s craft beer scene has attracted fresh institutional capital with 33&Brew securing ₹20 crore in a Series A funding round led by Optimistic Capital, a sector-focused fund targeting India’s growing microbrewery market.

Optimistic Capital, which has launched a ₹200 crore fund dedicated exclusively to craft beer and allied operations, said it has deployed ₹30 crore so far. The remaining ₹170 crore is expected to be invested over the next three years across microbreweries, brewing infrastructure, bottling, and kegging facilities. The fund follows an owner-operator approach and is backed by investors from India as well as the Middle East and Africa.

Founded in 2024 by entrepreneur Karthik Chandrasekaran, 33&Brew is positioned as a concept-led microbrewery that blends craft beer with music culture. The Bengaluru-based outlet draws inspiration from vinyl records, referencing the 33⅓ RPM format, and allows patrons to select and play records during their visit. The brand aims to create a differentiated social experience that combines beer, food, and music.

The newly raised capital will be used primarily for construction and expansion, as 33&Brew looks to scale its footprint in a city that remains India’s most active microbrewery hub. The venue offers a range of in-house brewed beers alongside signature cocktails and a food menu designed with global influences. The culinary concept was developed in collaboration with chef Sabyasachi Gorai, known for his modern interpretation of Indian flavours.

Optimistic Capital said it plans to back at least two more microbreweries in Karnataka, with a particular focus on central Bengaluru. Future investments are also expected to involve collaborations with MasterChef winners and internationally recognised brewers.

Industry estimates suggest India’s craft beer segment continues to benefit from rising urban consumption, premiumisation trends, and demand for experiential dining. While regulatory hurdles remain, especially around licensing and distribution, Bengaluru continues to stand out as a testing ground for experimental brewing and differentiated hospitality concepts.

Dubai-Based Eat App Raises $10 Million, Acquires ReserveGo, Partners Swiggy to Scale Restaurant Tech in India

Growth

SnackTeam

January 21, 2026

Dubai-based restaurant technology company Eat App is stepping up its India push after securing $10 million in fresh funding, acquiring a local reservations platform, and entering a commercial partnership with Swiggy. The latest Series B extension was led by PSG Equity through its portfolio firm Zenchef SAS, taking Eat App’s total capital raised to more than $23 million.

Founded over a decade ago, Eat App provides reservation, table management and guest data tools to restaurants. The company operates in more than 90 countries and works with over 5,000 restaurants globally. It currently generates close to $12 million in annual recurring revenue. India has emerged as one of its fastest-growing markets, with the platform now serving more than 2,000 restaurants nationwide.

The funding round comes at a time when India’s dine-in segment is drawing renewed focus from technology providers. Industry estimates peg the country’s food service market at over $85 billion by 2028, with dine-in contributing a significant share. Despite this scale, many restaurants continue to juggle reservations across multiple apps, leading to fragmented data and inefficiencies.

To strengthen its local footprint, Eat App has acquired ReserveGo, a Bengaluru-based reservation platform founded in 2022. ReserveGo was handling nearly five million reservations a month across more than 1,000 restaurants at the time of acquisition. Its founder, Vijayan Parthasarathy, previously built inResto, which was acquired by Dineout in 2015.

Eat App has also partnered with Swiggy to offer its solution to restaurants in India under the GroMax brand. While Swiggy will not be involved in product development, its sales teams will help distribute the offering and provide market feedback. The combined solution allows restaurants to consolidate bookings, manage capacity and access customer insights, while also promoting their outlets across Swiggy and social platforms.

With competition from global players such as OpenTable and SevenRooms, as well as Indian firms like Petpooja and Posist, Eat App’s growth in India will depend on its ability to show clear revenue impact for restaurant partners. The company believes its expanded toolkit and local integrations position it well for the next phase of growth.

Inspira Global to Acquire Controlling Stake in Burger King India Operator Restaurant Brands Asia

Business

SnackTeam

January 21, 2026

Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Burger King and Popeyes in Indonesia, is set for a change in ownership as Inspira Global moves in to acquire a controlling stake, marking the exit of private equity firm Everstone Capital from the business it has backed for over a decade.

Under definitive agreements announced on Tuesday, Inspira Global, led by entrepreneur Aayush Madhusudan Agrawal, will take over promoter control from QSR Asia Pte Ltd, which is majority owned by Everstone. The transaction is subject to shareholder and regulatory approvals, including clearance from the Competition Commission of India, and will be carried out in compliance with SEBI takeover norms.

The deal structure includes the acquisition of QSR Asia’s entire 11.26 percent stake in Restaurant Brands Asia for approximately Rs 460 crore. In addition, Inspira Global has committed to a substantial capital infusion, proposing around Rs 900 crore through a preferential allotment of equity shares and a further Rs 600 crore via warrants. These investments will trigger an open offer to public shareholders.

The acquisition will be executed through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage platform, which operates more than 250 Chinese Wok outlets across over 45 Indian cities. The move significantly strengthens Inspira’s footprint in the quick service restaurant sector, adding established global brands to its portfolio.

Restaurant Brands Asia said its existing leadership team, operational framework and brand identities will remain unchanged. The company currently operates over 575 Burger King restaurants in India, making it one of the largest QSR networks in the country.

Industry observers view the transaction as a pivotal moment for the company, providing fresh long-term capital to support store expansion, operational efficiencies and margin improvement in a competitive foodservice market.

For Everstone, the deal represents the conclusion of a long investment cycle that began with the launch of Burger King in India more than 12 years ago. For Inspira Global, it signals a decisive bet on India’s fast-growing organised QSR sector, where scale, execution and patient capital are increasingly critical.

TeinPro Enters India’s Health Food Market With First Protein Bar Backed by Randeep Hooda

Business

SnackTeam

January 21, 2026

TeinPro has entered India’s fast-expanding health food and functional nutrition market with the launch of its first protein bar, marking the brand’s formal debut in the protein and energy foods segment. The company is backed by actor Randeep Hooda as a core investor, alongside founders Chinmay Barik, Raghav Gupta and Kshitij Shokeen, and is positioning itself at the intersection of fitness, everyday nutrition and lifestyle wellness.

The launch comes at a time when protein consumption in India is gradually moving beyond gym-centric use. TeinPro is targeting urban consumers who are looking for convenient nutrition options that fit into long workdays, recovery routines and daily energy needs rather than high-intensity athletic performance alone. The brand’s strategy reflects a broader shift in consumer behaviour, with growing demand for moderation, balance and long-term health benefits.

The protein bar has been developed with a clean-label approach. It contains no added sugar or preservatives and includes ingredients such as magnesium, zinc, antioxidants and ashwagandha, which are commonly associated with energy support, focus and metabolic health. TeinPro is positioning the product as suitable for multiple occasions, including between meals, post-workout, during extended office hours or as a healthier dessert alternative.

India’s protein bar segment remains relatively nascent compared to global markets but is gaining momentum. Industry estimates value the category at over USD 800 million, with projections suggesting it could cross USD 1.2 billion by the end of the decade. Growth is being driven by rising health awareness, urbanisation and the rapid expansion of e-commerce and quick-commerce channels.

TeinPro is entering a competitive space dominated by brands such as RiteBite Max Protein, Yoga Bar, The Whole Truth, HYP and established packaged food players. While many competitors focus on either performance nutrition or healthy snacking, TeinPro is attempting to differentiate itself through a lifestyle-first narrative that blends functional benefits with daily relevance.

The product is currently available across major online and quick-commerce platforms, including Amazon, Flipkart, BigBasket, Zepto, JioMart and Tata 1mg. The company plans to widen its offline retail presence over time to drive trials and visibility.

As competition intensifies, TeinPro’s ability to build brand recall, scale distribution and expand its product range will be critical to carving out space in India’s crowded but rapidly growing health food market.

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