Bira 91 in Talks to Raise $132 Million in Biggest-Ever Funding Round Led by GEM

funding

October 9, 2025

Indian craft beer brand Bira 91 is in advanced discussions to raise around $132 million, marking its largest-ever funding round as it looks to strengthen its balance sheet and support operations. According to term sheets reviewed by Reuters, New York-based Global Emerging Markets (GEM) has emerged as one of the leading contenders to invest in the company.

The proposed deal structure includes $50 million in equity and $82 million in structured credit, sources said, though the final stake GEM may acquire remains undisclosed. If successful, this would be a critical infusion for Bira as it continues to recover from pandemic-era disruptions and mounting regulatory costs.

Confirming the development, Ankur Jain, Founder and CEO of Bira 91, said the company had received term sheets for “substantial investments in the form of structured debt and equity,” while declining to name the investors.

Founded in 2015, Bira has raised over $210 million to date and was valued at around $450 million two years ago. Its investors include Japan’s Kirin Holdings and Peak XV Partners (formerly Sequoia Capital India). Despite holding less than 5% of India’s beer market, Bira has built a strong urban following, fueled by its distinctive flavors and positioning as a modern, homegrown alternative to global giants such as AB InBev, Carlsberg, and Heineken.

The company continues to face challenges in India’s tightly regulated alcohol industry. In FY24, Bira incurred losses of ₹80 crore ($9 million) after rebranding its legal entity from B9 Beverages Pvt Ltd to B9 Beverages Ltd, triggering state-by-state label re-registrations and supply chain disruptions.

The upcoming round is expected to be used for working capital needs, debt clearance, and restructuring efforts, including optimization of sales and distribution networks as Bira eyes sustainable growth in India’s fast-evolving beverage landscape.

Bengaluru’s Adukale Raises Funding to Expand Authentic South Indian Food Brand Across India

funding

SnackTeam

October 8, 2025

Traditional foods brand Adukale, known for its focus on authentic South Indian flavours, has raised funding to accelerate its omnichannel growth and expand its retail footprint. The investment underscores rising investor confidence in India’s regional packaged food sector, which is seeing increasing consumer demand for clean-label, heritage-inspired products.

Founded and led by Bharat Kaushik, Adukale has established a strong presence in Karnataka through its Adukale Experience Stores, where consumers can sample and purchase its range of snacks, instant mixes, masalas, powders, and sweets. The brand has complemented its offline presence with a growing distribution network spanning direct-to-consumer channels, leading e-commerce marketplaces, quick commerce platforms, and general trade.

The company has built its reputation on a disciplined approach to quality and ingredient sourcing. Its products are free from palm oil, added preservatives, and trans fats, while production processes are designed to maintain consistency in taste at scale. This focus on healthier alternatives, without compromising on traditional flavours, has resonated strongly with urban households seeking authenticity and convenience.

Industry analysts note that the packaged traditional foods segment in India has witnessed significant traction over the past three years, driven by increased awareness of clean-label products and the rapid expansion of quick commerce. With Karnataka serving as a testing ground, Adukale is now preparing to expand to new geographies, supported by this latest round of funding.

Commenting on the development, Bharat Kaushik said the investment will allow Adukale to strengthen its product innovation pipeline, scale distribution, and introduce its offerings to a wider consumer base across India. The company aims to position itself as a leading player in India’s packaged regional foods market, while staying true to its mission of delivering authentic taste rooted in tradition.

FirstClub Doubles Down on Bengaluru — Ayyappan R Launches Brand’s First Fulfillment Center, Eyes Rapid Citywide Growth

Growth

SnackTeam

October 8, 2025

FirstClub has officially launched its first Fulfillment Center (FC), marking a significant milestone for the brand. The inauguration took place on Ayudha Puja day, adding a special touch of serendipity to the occasion.

According to Ayyappan R, the company’s co-founder, the new Fulfillment Center was built from the ground up entirely in-house. It stands as a testament to FirstClub’s speed, precision, and commitment to quality. The facility represents the backbone of FirstClub’s operations, ensuring that the brand continues to deliver fresh fruits, vegetables, and grocery essentials to its customers with care and honesty.

Ayyappan highlighted that while curation, testing, and trust are vital aspects of the brand, the true magic lies in the fulfillment process, where customer needs are met every day. He also expressed pride in the supply chain team that executed the project swiftly, establishing a complete supply network and operational system within a short span of time.

From this new Fulfillment Center, FirstClub will now service key areas across Bengaluru including Sarjapur Road, Bellandur, Harlur, Koramangala, HSR Layout, Whitefield, JP Nagar, and Budigere. The company also plans to expand further with upcoming clubhouses on Varthur Road, Bannerghatta Road, Electronic City, and other locations.

The launch event was attended by the entire FirstClub supply chain and operations team, who gathered for a celebratory photo at the new facility. The moment marked both a cultural and operational milestone for the company as it strengthens its infrastructure to support growing demand.

Eternal (Zomato Parent) Sees Goldman Sachs Stake Sale Worth ₹266 Cr; Total Offload Tops ₹900 Cr

Growth

SnackTeam

October 8, 2025

Goldman Sachs has further pared its holding in Eternal Ltd, the parent company of Zomato, through a block trade worth ₹266.1 crore, taking its total proceeds from stake sales in the past month to over ₹924 crore.

As per exchange filings, Goldman Sachs Bank Europe SE-ODI offloaded around 8.1 crore shares at ₹328.45 apiece, a two percent discount to Eternal’s last close of ₹335.05. The entire lot was purchased by BofA Securities Europe SA, highlighting continued global institutional appetite for the stock even as Goldman reduces exposure.

This is Goldman Sachs’ fourth exit in a series of transactions within weeks. On October 1, it sold 8.2 crore shares worth ₹266.9 crore to Morgan Stanley, followed by another ₹355.3 crore block sale on October 4 to BofA. In late September, the bank had already disposed of ₹36.1 crore worth of shares. Despite these heavy trades, data from June 2025 shows Goldman Sachs held less than one percent stake in Eternal.

While reducing its shareholding, Goldman’s brokerage arm has retained a positive view on Eternal. In a September research note, it maintained a ‘Buy’ rating and revised its price target upward to ₹360, citing the rapid growth of Blinkit, its quick commerce vertical. Investor optimism has been evident, with Eternal stock hitting a record ₹343.95 on September 22 and delivering gains of over 21 percent this year.

Financially, the company’s Q1 FY26 performance showed contrasting signals. Net profit plunged 90 percent year-on-year to ₹25 crore, down from ₹253 crore, but operating revenue surged 70 percent to ₹7,167 crore, led by Blinkit and Zomato’s delivery operations. Analysts expect revenue momentum to continue into the festive season, though profitability pressures are likely to persist in the near term.

Pluckk Strengthens Leadership with Chayan Mukhopadhyay as COO, Plans Entry Into 20 Cities and 3 Global Markets

Business

SnackTeam

October 8, 2025

Fresh food brand Pluckk has announced the appointment of Chayan Mukhopadhyay as its Chief Operating Officer, marking a key step in its nationwide growth strategy. Mukhopadhyay, an alumnus of IIM Bangalore with more than 15 years of cross-sector experience, will spearhead operations as the company looks to scale its footprint from four cities to 20 in the coming years, while also eyeing three international markets.

Pluckk, founded in July 2021 by Pratik Gupta, operates in Mumbai, Bengaluru, Delhi and Pune with a portfolio that includes fresh meal kits, preservative-free juices, soups, smoothies, frozen berries and plant protein bars. The company, which currently reports an annualised GMV of ₹100 crore, is positioning itself as a lifestyle-oriented brand for India’s NCCS A households that value freshness, health and convenience.

Mukhopadhyay brings operational and entrepreneurial depth to the role. He has held leadership stints at American Express and Jabong and co-founded HR SaaS venture Qandle, which achieved profitability and was acquired earlier this year.

Speaking on his appointment, Mukhopadhyay said his immediate focus will be to strengthen sourcing and supply chain efficiencies while expanding both online and offline channels. “Pluckk has already built strong traction in its existing markets. The next step is rapid yet profitable expansion into new cities, without compromising on quality or consumer trust,” he said.

Pratik Gupta, co-founder of Pluckk, highlighted that Mukhopadhyay’s mix of operational expertise and entrepreneurial success makes him “the right leader to drive the brand’s next phase of growth.” Gupta added that with rising demand for clean eating and the momentum of modern retail and quick commerce, Pluckk is well-positioned to scale its consumer base nationwide.

The appointment underscores Pluckk’s ambition to become a leading name in India’s fast-growing fresh food market, a segment increasingly shaped by urban professionals seeking healthier everyday choices.

Ace Turtle Brings Dutch Denim Brand G-Star to India with WHP Global Licensing Deal

Retail & Ecommerce

SnackTeam

October 8, 2025

Bengaluru-based retail operator Ace Turtle has signed a long-term licensing agreement with WHP Global to introduce the Dutch premium denim brand G-Star into the Indian market. The deal allows Ace Turtle to import products from G-Star’s global supply chain while also setting up local manufacturing in the near future.

Initially, all products will be imported, but local production is expected to begin as early as next season, accounting for 10 to 15 percent of supply. Within two years, Ace Turtle expects the majority of G-Star’s inventory in India to be manufactured domestically. This hybrid model, the company said, will help balance international design standards with localized preferences.

The move marks G-Star’s second attempt at the Indian market. The brand first entered through a partnership with Genesis Luxury nearly a decade ago, which later came under Reliance after its acquisition of Genesis in 2017. That partnership ended last year, leaving the field open for a fresh strategy.

“India’s market has evolved. Personalization and local relevance matter, and you can’t depend solely on imports,” said Nitin Chhabra, CEO of Ace Turtle. The company already manages the India and South Asia licenses for global labels including Lee, Wrangler and Dockers.

G-Star will debut in India through shop-in-shop formats at department stores such as Shoppers Stop this season, followed by standalone outlets starting next year. Over five years, the plan is to open about 15 exclusive stores across key cities.

India, the world’s most populous nation, has become a crucial battleground for global apparel brands. From mass-market players like Zara and H&M to premium names such as Diesel and Calvin Klein, competition is intense. Ace Turtle, however, said G-Star will be positioned firmly in the premium segment, avoiding the mass-priced clutter.

Sawariya Group Acquires Luxury Perfume Retailer Scentido, Eyes $15 Mn Revenue Boost

Growth

SnackTeam

October 7, 2025

Sawariya Group, a diversified distribution and business conglomerate, has made a decisive move into the luxury beauty space with the acquisition of Scentido, one of India’s leading niche perfume retailers. The group announced the deal on Monday, positioning the buyout as a cornerstone of its strategy to expand its premium lifestyle portfolio.

Scentido, launched in 2018, has carved a name for itself in India’s luxury retail market by exclusively bringing niche global fragrance houses to Indian consumers. The brand operates seven outlets across major metros and premium airport locations, curating collections from more than 30 international labels. Its portfolio includes acclaimed names such as Clive Christian, Creed, Roja London, Marc Antoine Barrois, Escentric Molecules, Ormonde Jayne, and OJAR.

With this acquisition, Sawariya Group expects its perfumery vertical to generate close to USD 15 million in annual revenue. The group is planning to strengthen both offline retail and e-commerce channels to tap India’s growing appetite for luxury scents.

“This acquisition is a natural extension of our vision to build leadership in the luxury lifestyle categories,” said Raman Agrawal, founder and director of Sawariya Group. “Niche fragrances are a fast-growing segment globally, and Indian consumers are increasingly embracing them as part of their personal identity. With Scentido, we see a significant opportunity to accelerate growth and bring international artistry in perfumery closer to Indian customers.”

The acquisition comes at a time when India’s luxury market is experiencing double-digit growth, supported by rising disposable incomes and expanding exposure to global brands. By integrating Scentido into its portfolio, Sawariya Group is betting on perfumes becoming a key pillar of its lifestyle business, alongside plans to diversify into other premium categories.

Puranique Spirits Expands to India, Introduces Premium Vodka and VSOP Cognac

Beverages

SnackTeam

October 7, 2025

Premium liquor company Puranique Spirits has officially forayed into the Indian market with the introduction of two flagship products — Puranique Vodka and Puranique VSOP Cognac. The launch marks the company’s first major step into one of the world’s fastest-growing markets for premium spirits.

According to the company, Puranique Vodka is nine-times distilled to achieve a smooth finish, while the VSOP Cognac is positioned to appeal to India’s growing base of discerning consumers seeking international-quality blends. The entry aligns with India’s rising appetite for premium and craft spirits, which industry estimates suggest could expand by over 12 percent annually through the next five years.

Anoop Mohan, promoter and CEO of Puranique Spirits India, said the launch is timed with India’s evolving role in the global alcohol market. “Consumers here are increasingly seeking experiences that go beyond a drink in a glass. Our portfolio bridges traditional French and Scottish craftsmanship with India’s demand for refined, authentic products,” he noted. Mohan added that the company intends to introduce additional categories, including gin, rum, and artisan craft spirits, to capture broader consumer demand.

To strengthen its brand identity, Puranique has appointed veteran actor and filmmaker Mahesh Manjrekar as its first brand ambassador. The company believes his presence will help connect with Indian audiences while underlining its positioning as a lifestyle-driven brand.

The expansion of Puranique into India comes at a time when several global spirits makers are investing in the country, reflecting a larger trend of international brands viewing India as a critical growth market.

WellBe Foods Targets 38,000 Stores with New Vacuum-Cooked Snacks and Clean-Label Innovations

Food

SnackTeam

October 7, 2025

Bengaluru-based WellBe Foods, a direct-to-consumer brand under the Nimida Group, has expanded its product portfolio with the launch of vacuum-cooked snacks, positioning itself to capture a larger slice of India’s rapidly growing healthy snacking market. The company has also introduced 14 new products that reimagine traditional Indian snacks with a healthier twist.

India’s healthy snacking sector, valued at USD 2.67 billion in FY24, is expected to nearly double to USD 4.95 billion by FY32, growing at a CAGR of 8.03%. Riding this wave, WellBe has unveiled vacuum-cooked legumes, pulses, and tubers as part of its clean-label product line. The company’s expansion also includes items such as Peanut Chikki and Chikki Bites, Flower Murukku, Maddur Vada, Achari Murukku, Tomato Chakli, Khara Boondi, Onion Pakoda, Onion Kodbale, Namak Para, Shakkar Para, Banana Chips, Potato Chips, and Poha Chivda.

The new products are an extension of WellBe’s brand philosophy, which emphasizes taste without compromising health. “Healthy snacking should not come at the cost of flavor or tradition,” said Gaurav Manchanda, Founder and Director, Nimida Group. “By combining advanced cooking technology with familiar recipes, we aim to create snacks that are both comforting and better for you. This is about setting a higher benchmark for what Indian consumers can expect from packaged snacks.”

WellBe’s latest offerings will be distributed through its online platform, leading e-commerce marketplaces, and traditional and modern retail channels. The company plans to scale its reach to over 38,000 stores across India by March 2026, with a strong focus on Tier-2 and Tier-3 cities. The expansion reflects WellBe’s ambition to make clean-label, innovative snacks more accessible and mainstream in India’s evolving food landscape.

Ghodawat Consumer Bets on Distribution, Eyes ₹1,500 Crore Revenue by Strengthening Staples and Snacks Portfolio

Entrepreneurship

SnackTeam

October 7, 2025

Ghodawat Consumer Ltd. (GCL) is charting an ambitious growth path as it pushes deeper into staples and impulse categories while reshaping its operating model to stay lean and responsive to market demand. The company, led by CEO Salloni Ghodawat, has crossed ₹1,200 crore in revenue and is aiming to touch ₹1,500 crore in the near term, with a goal of sustaining double-digit growth over the next three years.

The company is investing heavily in an asset-light model to scale faster. Currently operating three contract manufacturing units (CMUs), it plans to add eight more before the year closes, strategically located near raw material hubs or consumption centers to optimize supply chains.

Portfolio diversification remains a central strategy. Through acquisitions, Ghodawat Consumer has brought Coolberg, a non-alcoholic beer brand, and To Be Honest (TBH), known for its vacuum-cooked snacks, into its fold. Together, these brands offer nearly 30 SKUs and are gaining traction across modern trade, quick commerce, and online channels, which now contribute more than 60 percent of revenues. Coolberg recently secured a listing in the CSD network, giving it nationwide access, while TBH is set to roll out a protein-based range.

Distribution expansion forms the backbone of GCL’s growth playbook. With a marketing budget exceeding ₹25 crore, the company is strengthening its sales network, targeting both rural markets—where it already holds a strong presence—and metropolitan hubs to broaden its reach. The snack segment is expected to gain further momentum with GST rates reduced from 12 to 5 percent, improving affordability.

Retail also plays a role in its expansion. GCL currently operates 180 Star Local Mart stores and is eyeing 250 outlets by the end of this year, reinforcing its multi-channel presence.

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