The Sleep Company Bags Rs 480 Cr from ChrysCapital, 360 One Asset; Targets 150 New Stores as Revenue Hits Rs 750 Cr ARR

INVESTMENTS

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August 6, 2025

Image-of-The-sleep-company. — The Sleep Company Bags Rs 480 Cr from ChrysCapital, 360 One Asset; Targets 150 New Stores as Revenue Hits Rs 750 Cr ARR

Mumbai-based comfort and sleep tech brand The Sleep Company has raised Rs 480 crore in fresh funding, split evenly between primary and secondary components. The round was led by ChrysCapital and 360 One Asset. Existing investor Fireside Ventures made a partial exit through secondary share sales.

Founded in 2019 by Priyanka and Harshil Salot, the brand plans to aggressively expand its offline presence, targeting 130 to 150 new stores across the country in the next two years. It currently operates 160 outlets in 47 cities. The funding will also support hiring and team development, especially across retail and product functions.

The company currently generates an annualised revenue run rate (ARR) of Rs 750 crore and reported EBITDA-level profitability in the previous quarter. According to Tracxn, it closed FY24 with Rs 320 crore in revenue and a net loss of Rs 58.7 crore. About 85 percent of its current sales come from its direct-to-consumer website and physical stores, with the rest through online marketplaces like Amazon and Flipkart.

ChrysCapital’s Rajiv Batra called the deal an opportunity to back India’s growing premium consumer wave, with The Sleep Company well-positioned to capture market share in the sleep and comfort segment.

The company’s product portfolio spans mattresses, pillows, office chairs, recliners, and sofas. While still India-focused, it is exploring global markets as part of its long-term roadmap. It also has its eye on potential acquisitions in the category, aligning with ongoing industry consolidation.

The Sleep Company’s fresh fundraise arrives as rivals Wakefit and Duroflex gear up for IPOs, signalling a growing investor appetite for home and sleep-focused consumer brands. The only listed player in the space currently is Sheela Foam, owner of Sleepwell.

ChrysCapital Scoops Up Majority Stake in Theobroma at ₹2,410 Cr Valuation; Founders Retain 10%

INVESTMENTS

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August 6, 2025

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Image of theobrome. — ChrysCapital Scoops Up Majority Stake in Theobroma at ₹2,410 Cr Valuation; Founders Retain 10%

ChrysCapital has received the go-ahead from the Competition Commission of India (CCI) to acquire a controlling stake in Theobroma Foods, one of India’s most recognisable bakery brands. The private equity firm is set to invest an estimated ₹2,410 crore to acquire 90 percent ownership in the Mumbai-headquartered company.

The transaction will be executed through ChrysCapital’s affiliates: Infinity Partners, Aqua Investments Ltd, and Atreides Investments BV. CCI’s clearance comes after the investment crossed regulatory thresholds that require approval to ensure healthy market competition.

Founded in 2004 by sisters Kainaz Messman Harchandrai and Tina Messman Wykes, Theobroma began as a single café in Mumbai and has since grown into a nationwide chain with over 100 outlets across more than 30 cities. Its offerings—ranging from brownies and cakes to sandwiches and beverages—have built a strong following, both in-store and online.

Theobroma’s current backer, ICICI Venture, is exiting the company as part of the deal. ICICI Venture had invested close to $20 million in 2017 and holds nearly 42 percent stake in the bakery chain. As part of the new arrangement, the founding family will retain about 10 percent ownership in the company post-transaction.

ChrysCapital’s move marks one of the largest investments in India’s food and beverage retail space in recent years, pointing to a broader trend of private equity interest in consumer brands with strong offline and digital distribution.

Theobroma’s sale comes at a time when demand for premium bakery and confectionery products is surging across metros and Tier 2 cities, helped by rising disposable incomes and growing preference for artisanal formats. The deal is expected to close in the coming weeks, pending final formalities.

BlueStone Shrinks IPO to ₹820 Cr, Takes a ₹300 Cr Hit on Valuation; Accel, Kalaari Trim Exit Plans

Business

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August 6, 2025

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Image-of-bluestone. — BlueStone Shrinks IPO to ₹820 Cr, Takes a ₹300 Cr Hit on Valuation; Accel, Kalaari Trim Exit Plans

Bengaluru-headquartered jewellery brand BlueStone has trimmed the size of its initial public offering, as per an updated red herring prospectus filed with SEBI. The omnichannel retailer now plans to raise ₹820 crore in primary capital, a significant cut from the ₹1,000 crore originally proposed.

The IPO is scheduled to open on August 11, with the company targeting a public market valuation of around ₹7,800 crore. That figure is notably below the ₹8,100 crore valuation it secured in its previous funding round in August 2024.

BlueStone’s offer-for-sale component has also seen a sharp reduction. Investors including Accel, Kalaari Capital, Iron Pillar and Hero Group’s Sunil Kant Munjal will offload 13.9 million shares, compared to 24 million in the earlier draft. IvyCap Ventures, which was earlier listed to sell 3.1 million shares, has opted out of the OFS altogether.

The company, which received SEBI’s nod for the IPO in April, has reported strong topline growth but widening losses. Operating revenue rose 40 percent year-on-year to ₹1,770 crore in FY25. However, net losses grew to ₹222 crore from ₹142 crore in FY24.

Axis Capital, IIFL Capital and Kotak Mahindra are managing the IPO.

In the lead-up to its public issue, BlueStone also saw active secondary market interest. Private wealth firms 360 One and Centrum Wealth facilitated share sales worth ₹300 to ₹350 crore, as per earlier ET reports.

Investor appetite in jewellery-focused startups has picked up pace, particularly after the Tata Group’s full buyout of CaratLane in 2023, valuing the company at ₹17,000 crore. More recently, silver jewellery startup Giva is in talks to raise ₹450 crore in a round led by Creaegis, with backing from Premji Invest and Epiq Capital.

Reliance Retail’s Tira Unveils Puraveda: Over 50 Ayurvedic Beauty Products Hit Market, Backed by Ancient Formulas and Modern Actives

Retail & Ecommerce

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August 5, 2025

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Image of reliance retail. — Reliance Retail’s Tira Unveils Puraveda: Over 50 Ayurvedic Beauty Products Hit Market, Backed by Ancient Formulas and Modern Actives

Reliance Retail is strengthening its presence in the beauty market with the launch of Puraveda, a new Ayurvedic beauty brand housed under its omni-channel platform, Tira. With over 50 products rolled out at launch, Puraveda spans skincare, haircare, and body care, blending traditional Indian wellness with modern scientific formulations.

The brand features four ingredient-led ranges: Dhara, focused on deep nourishment using chandan, D-panthenol and lavender; Niyama, designed for mindful self-care with kumkumadi, squalane and vetiver; Sama, centred around calm and balance with gulaab, hibiscus and tocopherol; and Urja, a revitalising line built on mulethi, mogra and BHA.

All products are cruelty-free and combine Ayurvedic hero ingredients with clinically backed actives. According to Tira, the line has been developed to suit daily routines while offering both performance and sensory indulgence, keeping the modern consumer’s preferences in mind.

“Puraveda reflects our approach to conscious beauty—where heritage meets performance,” said Bhakti Modi, Co-founder and CEO of Tira. “We’re not just introducing another Ayurveda brand. We’re curating self-care experiences rooted in tradition but designed for today’s lifestyle.”

Tira, launched by Reliance Retail in 2023, is now one of India’s fastest-growing beauty platforms, delivering to over 98 percent of the country’s pincodes. With Puraveda, the company continues to expand its portfolio of in-house labels, competing directly with incumbents like Hindustan Unilever’s Ayush, Emami’s BoroPlus, and Forest Essentials.

As the Ayurvedic beauty segment sees rising demand from health-conscious and ingredient-aware shoppers, Reliance is betting on scale, accessibility and brand storytelling to create space in a crowded, yet still underpenetrated, category. Puraveda products are now available on the Tira app, website, and select offline stores across India.

Burma Burma Expands to 18 Outlets Nationwide with Three New Openings in Delhi-NCR, Adds Over 11,500 Sq. Ft of Dining Space

Retail & Ecommerce

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August 5, 2025

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Image of burma burma. — Burma Burma Expands to 18 Outlets Nationwide with Three New Openings in Delhi-NCR, Adds Over 11,500 Sq. Ft of Dining Space

Burma Burma, the country’s leading Burmese restaurant and tea room chain, has expanded its Delhi-NCR presence with three new outlets across Vasant Kunj, Aerocity and Gurugram. The latest launches take the brand’s regional footprint to six locations.

The new restaurants are located at DLF Promenade (Vasant Kunj), Worldmark 3 (Aerocity), and Worldmark 65 (Gurugram). With these additions, the brand now operates 18 restaurants and a delivery kitchen across India, including cities like Mumbai, Bengaluru, Hyderabad, Kolkata and Ahmedabad.

The Aerocity outlet is the largest among the new set, spread across 6,302 sq. ft. with a 110-seater layout. It features a dramatic atrium and a hanging pagoda installation. At DLF Promenade, the 94-seater restaurant draws inspiration from Yangon’s iconic colonial-era Strand Hotel and occupies 2,017 sq. ft. Meanwhile, the Gurugram location spans 3,238 sq. ft., with a dedicated tea bar and private dining space that nods to Mandalay’s cultural landscape.

Each outlet has been designed by Minnie Bhatt, Principal Architect of Mini Bhatt Designs, to reflect distinctive elements of Burmese art, craft and storytelling.

To mark the openings, Burma Burma is serving a limited-edition tea house menu titled From Burma with Tea, available exclusively at the three new locations until September 30. The menu features traditional Burmese pulled teas, iced teas, snacks and shareable bowls. It will roll out nationwide from September 1.

Founded in 2014 by Chirag Chhajer and Ankit Gupta under Hunger Pangs Pvt. Ltd., the brand has consistently championed a modern take on Burmese cuisine. Head Chef Ansab Khan leads the kitchen, serving dishes infused with regional ingredients like laphet, balachaung peppers and kaffir lime.

Burma Burma continues to position itself as a cultural and culinary bridge to Myanmar, using food and design to deepen its brand story with every new restaurant.

Swiggy Sharpens Focus on Office-Goers with DeskEats Launch; 2 Lakh Restaurants, ₹4,961 Cr Revenue, and Counting

Business

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August 5, 2025

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mage-of-swiggy. — Swiggy Sharpens Focus on Office-Goers with DeskEats Launch; 2 Lakh Restaurants, ₹4,961 Cr Revenue, and Counting

Swiggy has launched a new feature called DeskEats, designed to cater specifically to India’s growing base of working professionals. The service is now live across 30 cities and more than 7,000 office zones including tech parks, corporate towers and business centres.

With a menu pool of 7 lakh items from over 2 lakh restaurants, DeskEats is positioned as an everyday lunch-and-snack solution for the time-starved workforce. Users can access the feature by simply typing “office” or “work” on the Swiggy app.

The offering includes curated categories like ‘deadline desserts’, ‘one-handed grabbies’, ‘value combos’, and ‘healthy nibbles’ to suit the range of moods and meal moments in a workday. Swiggy says the intent is to blend convenience with discovery while keeping pace with modern workplace routines.

The rollout comes on the heels of Swiggy’s Corporate Rewards programme, which has seen uptake from 14,000 companies and reached 1.5 lakh employees in just three months.

“DeskEats is our answer to the hustle of the office grind. It’s built around the rhythms of a working day,” said Deepak Maloo, VP, Food Strategy and New Initiatives.

While Swiggy expands on the food front, it’s also diversifying. In June, it launched a lifestyle concierge app called Crew, followed by Pyng, a professional services marketplace. At the same time, the company has sunset its delivery service Swiggy Genie.

Financially, Swiggy’s Q1 FY26 performance was a mixed bag. Net loss widened to ₹1,197 crore, nearly double from last year’s ₹611 crore. However, revenue climbed 54% year-on-year to ₹4,961 crore. Losses from Instamart touched ₹797 crore, triple from last year, though sequential growth was marginal.

The company remains in expansion mode, with DeskEats marking its latest bet on India’s evolving urban appetite.

Priya Nair Steps In as HUL CEO, Inherits ₹5.6 Lakh Cr FMCG Giant Struggling to Keep Up with Gen Z, Honasa, and L’Oréal

Entrepreneurship

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August 4, 2025

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Priya Nair Steps In as HUL CEO, Inherits ₹5.6 Lakh Cr FMCG Giant Struggling to Keep Up with Gen Z, Honasa, and L’Oréal

Priya Nair has stepped into the top job at Hindustan Unilever, taking charge of a consumer behemoth that’s been feeling the heat from all sides. While the FMCG giant recently posted better-than-expected profits, its broader growth story has been underwhelming. Over the last three years, HUL’s stock has crawled up just 4 percent, while the Nifty 50 sprinted ahead with a 42 percent gain.

The bigger concern? HUL is struggling to keep up with a fast-evolving India. Smaller, nimble brands—especially in beauty and personal care—are cutting into its turf. Local challengers like Mamaearth and even global players like L’Oreal are giving the Dove-and-Lakme maker a real fight. Volume growth has been tepid, and consumer behavior in both cities and small towns is shifting rapidly. Urban buyers are trimming their spending or opting for niche, “natural” alternatives, while rural markets remain unpredictable.

Nair’s appointment as CEO, the first woman to lead the company, sparked a stock rally last month after Rohit Jawa’s early exit. Known for her sharp instincts, Nair has previously led HUL’s home care and beauty segments and served as Unilever’s Global Chief Marketing Officer. Industry insiders see her as an assertive leader with a strong grip on what Indian consumers want today.

The road ahead is steep. Analysts say HUL must rethink its product pipeline, pricing strategy, and rural distribution. Nair also has the global board watching closely. Unilever CEO Fernando Fernandez has already committed higher investments in India, calling it a key market alongside the US.

Brokerages including Goldman Sachs and Jefferies have raised their outlooks, betting on Nair’s ability to turn things around. But in an increasingly fragmented market, sustaining relevance could be her toughest challenge yet.

GO DESi’s Bombay Bhel Makes ₹10 Chaat Look Like a ₹1000 Idea—and It’s Flying Off Zepto

Food & Beverage

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August 4, 2025

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GO DESi’s Bombay Bhel Makes ₹10 Chaat Look Like a ₹1000 Idea—and It’s Flying Off Zepto

Homegrown snacking brand GO DESi has announced the launch of ‘Bombay Bhel’, a ready-to-eat, packaged version of the much-loved Indian street snack. Priced at ₹69, the product is being positioned as a modern, convenient alternative to traditional bhelpuri—complete with tamarind and mint chutneys included inside the pack.

This marks yet another move by GO DESi to tap into India’s regional food nostalgia, repackaging hyperlocal favourites for modern retail shelves. The new product is currently available on platforms like Zepto and the company’s own D2C website.

Founded by Tejas Krishna, GO DESi has built a loyal consumer base by reimagining Indian snack-time staples. From tangy treats like Imli Pops to spicy banana chips, the brand has focused on offering familiar flavours in a cleaner, shelf-stable format. With the launch of Bombay Bhel, it’s now turning its attention to one of the country’s most ubiquitous snacks—and perhaps one of the most commercially overlooked in retail aisles.

The product development and packaging were led in-house, with design inputs from Tejaswee Manapuram, Yashashree RA, Rigzin Angmo and Shreya Agrawal. The team says the goal was simple: retain the chaotic, bold flavours of street-side chaat, while making the format accessible for today’s on-the-go lifestyles.

India’s packaged snacks market, valued at over ₹1 lakh crore, continues to see demand for products that bridge taste nostalgia with convenience. With Bombay Bhel, GO DESi appears to be doubling down on this trend—offering a slice of street-side chaos, without the mess.

McDonald’s Eyes India in AI-Powered Expansion Drive by 2027

Growth

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August 2, 2025

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McDonald’s Eyes India in AI-Powered Expansion Drive by 2027

McDonald’s is gearing up for a major push into artificial intelligence, with big plans to expand its digital capabilities and lean on India as a core technology hub over the next few years. By 2027, the global fast-food chain wants to significantly deepen its investment in AI, using it to enhance everything from order accuracy to pricing and sales forecasts.

The company has already started testing AI tools across 400 restaurants to reduce errors during order handoffs. The goal is to roll out these systems to over 40,000 outlets worldwide within the next two years. “We’re still in the early stages, so it’s hard to pin down the exact investment,” said Deshant Kaila, McDonald’s Head of Global Business Services Operations, during a visit to the company’s newly established Hyderabad office.

This expansion into AI isn’t just about making smarter decisions. It’s also about placing the right talent in the right places. And for McDonald’s, India is becoming central to that effort. Hyderabad, where the company recently opened a major global office, is set to become its largest tech base outside the United States. The focus will be on building out the company’s AI capabilities—particularly in areas like data management, platform design, and systems engineering.

Kaila noted that the emphasis will be on investing in tools and technology rather than growing headcount dramatically. The idea is to build a strong, agile foundation in India that can support McDonald’s global AI strategy.

Durga Prakash, the company’s Global Offices Head of Technology, explained how AI is being used behind the scenes to forecast demand, set dynamic prices, and evaluate how well products are performing. McDonald’s is also working on a fully personalized app experience that would work seamlessly across international markets. “The idea is to make tech work smarter for both customers and the business,” Prakash said.

Hyderabad is already shaping up to be a critical part of that vision. Earlier this year, the Telangana state government announced that McDonald’s would be setting up a global capability center in the city. The center is expected to employ around 2,000 people and will play a key role in everything from tech development to operations support.

While India has long been a destination for IT and back-office operations, global firms like McDonald’s are increasingly looking to their Indian centers for more strategic roles. These hubs are no longer just about saving costs—they’re becoming engines of innovation and business transformation.

Alongside its India investment, McDonald’s is also exploring the possibility of opening a global office in Poland, similar to the ones it already has in Hyderabad and Mexico.

As the company continues to evolve beyond burgers and fries into a more tech-forward business, its bets on AI and the talent hubs powering it are likely to shape its next phase of growth.

FSSAI Mandates Allergen Disclosure on Menus and Packaging by August 31

Food Safety

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August 2, 2025

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FSSAI Mandates Allergen Disclosure on Menus and Packaging by August 31

The Food Safety and Standards Authority of India (FSSAI) has issued a new directive requiring all food businesses to prominently declare the top eight allergens on menus, product packaging, and online delivery platforms. The regulation will come into force on August 31, 2025, and applies to restaurants, cloud kitchens, food manufacturers, and e-commerce listings.

Under the new rule, businesses must clearly mention the presence of the following allergens: milk, eggs, peanuts, tree nuts, soy, wheat, fish, and shellfish. The labeling must be easily visible and legible, both in physical formats—such as printed menus and packaging—and digital platforms like Zomato, Swiggy, and grocery delivery apps.

The move is part of FSSAI’s broader effort to improve food safety and protect consumers with dietary sensitivities. Officials say the regulation brings India closer to international food labeling standards and addresses a growing public health concern.

“Consumers have the right to know what’s in their food. This regulation ensures transparency and safety for people with food allergies,” a senior FSSAI official said, requesting anonymity as the circular is yet to be publicly detailed.

Food businesses that fail to comply by the deadline could face penalties, including warnings, fines, or suspension of licenses, according to sources familiar with the matter.

Industry stakeholders are expected to begin updating packaging, digital listings, and staff training in preparation for the rollout. Several large QSR chains and FMCG brands have already begun implementing allergen labels voluntarily, anticipating the regulation.

The FSSAI is expected to release detailed implementation guidelines and provide support to small and medium enterprises in the coming weeks.

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