The Michelin Guide Thailand Star Revelation 2024, held on December 13, 2023, unveiled two restaurants that earned a second Michelin star. Among them is Gaa in Bangkok, a contemporary Indian restaurant led by Chef Garima Arora. This highly esteemed accolade, often regarded as the pinnacle of recognition in the culinary world, establishes Chef Garima as the first female Indian chef to achieve the distinction of not one, but two Michelin stars.
As per the Michelin Guide’s official website, Garima’s restaurant is described as having a traditional exterior and a contemporary interior.
“Gaa’s location mirrors chef Garima Arora’s exquisite cooking: old-school at heart, transformed with modern techniques and presentation,” it explains.
The restaurant’s tasting menu features Chef Garima’s “reinterpretations of street food snacks.” The guide depicts her culinary style as “assured, understated, and skillful,” praising the finely balanced spicing, extraordinary flavor combinations, and contrasts in texture and temperature evident in her creations.
Renowned chef Vikas Khanna expressed his joy on Instagram to celebrate the news. He shared a brief video clip featuring himself alongside Chef Garima. In the caption accompanying the post, he wrote, “Today might be “one of the most historic days for Indian Cuisine on a global platform”. The Garima Arora was awarded 2 Michelin Stars by @michelinguide @michelininspectors making her the first female Chef from our country for this honour. Congrats to the brilliant team of @restaurant_gaa for making INDIA so proud. Proudest brother. V.”
In 2023, Indian cuisine has experienced remarkable success on the global culinary stage. Numerous Indian chefs and restaurants have garnered widespread acclaim, securing significant awards and prestigious rankings across the globe.
When it comes to culinary delights, India boasts a plethora of dishes, including a variety of curries that have captured the hearts of people. Whether one prefers vegetarian or non-vegetarian fare, Indians have consistently demonstrated their ability to make the most of every ingredient and vegetable available. Infused with a rich blend of flavors and spices, Indian cuisine provides a culinary journey that seamlessly combines tradition with innovative renditions.
The prestigious TasteAtlas, a Croatian experiential travel online guide, has recognized Indian Cuisine as the 11th best in the world, based on ratings of dishes and food products. While this acknowledgment is a source of pride for India, highlighting its deep-rooted culinary heritage and fantastic flavors, it’s noteworthy that Italy secured the top spot on the list, with Japan and Greece following closely behind.
According to TasteAtlas, Indian Cuisine has secured the 11th position as the world’s best cuisine. Surpassing countries such as the USA, South Korea, Lebanon, and Thailand, Indian Cuisine claimed this esteemed spot. Peru secured the 10th position with a score of 4.54, while Brazil claimed the 12th rank.
TasteAtlas wrote, “Based on 395,205 (271,819 valid) dish ratings, and 115,660 (80,863 valid) food product ratings, these cuisines have recorded the best average ratings for their respective top 50 highest-rated dishes and food products.”
The TasteAtlas list featured the top 9 cuisines, with Italy, Japan, Greece, Portugal, China, Indonesia, Mexico, France, and Spain claiming the leading positions. When it comes to the 100 best dishes globally, the rankings unveiled by the publication positioned Butter Garlic Naan at 7th place, Murgh Makhani (Butter Chicken) at 43rd, Chicken Tikka at 47th, and Chicken Tandoori at 48th. The top-ranking dishes on this list include Brazilian beef cut Picanha, Flatbread Roti Canai, Stir-fried Phat kaphrao, Pizza Napoletena, and Dumplings Guotie.
On their website, TasteAtlas wrote, “Out of 10,927 catalogued dishes, based on 395,205 user ratings (271,819 valid), these 100 dishes received the highest ratings.”
Securing the 11th position in TasteAtlas’ 100 Best Cuisines is a significant accolade for Indian cuisine, underscoring its global recognition. This acknowledgment, however, is not the sole instance of international acclaim. At the 2023 Cannes Film Festival, Indian chef Prateek Sandhu orchestrated the inaugural dinner, impressing attendees with a menu featuring delicacies such as Millet Thoran, Malvani-style Sole Fish, Potato Koshimbir, Bengali Sandesh, Mysore Pak, Kashmiri Kahwa, and more. Furthermore, TasteAtlas highlighted popular Indian street foods like tikka, dosa, chole bhature, and Amritsari kulcha in their compilation of the Best Street Foods in the World.
The internet has brought about a democratization of social spaces, providing ordinary individuals with the tools to express themselves. In a similar vein, the internet is leveling the playing field in markets, offering equal opportunities to both major and minor players. As the Indian e-retail market anticipates substantial growth and a significant portion of the population, particularly in Tier-II and Tier-III towns, engages in online shopping, formidable challenges arise for major FMCG companies. These companies traditionally dominate traditional distribution channels, where new entrants struggle to scale up rapidly and emerge as competitors within a few years.
The rapidly growing e-retail sector has the potential to foster the emergence of numerous small brands, each gradually chipping away at the market shares of larger brands in order to thrive.
A report jointly conducted by Bain & Company and Flipkart, foreseeing significant growth and substantial untapped potential in India’s e-retail sector, should serve as a cautionary signal for major FMCG companies, despite appearing to hold promising prospects for them. While these large corporations have undoubtedly considered the future growth potential in e-retail and are actively exploring opportunities in this sector, what they may not have fully considered are the profound and disruptive impacts on the retail landscape. Factors such as emerging consumer technology fueled by artificial intelligence, decreasing logistics costs, and the swiftly changing consumer behavior influenced by volatile social and cultural trends could introduce considerable unpredictability.
E-retail is poised to surpass the $160 billion (over INR 13 lakh crore) mark by 2028, as indicated by a recent report from Bain & Co. Anticipated to be in the range of $57-$60 billion (INR 4.75 lakh crore to INR 5 lakh crore) in 2023, with an annual shopper base of around 240 million, the e-retail market has witnessed an annual addition of $8-$12 billion since 2020.
“Long-term fundamentals of India’s e-retail industry, including affordable data, improved logistics and fintech infrastructure and strong digital consumer ecosystems remain intact,” Bain’s Innovation & Design Capability Area, Partner and Global Leader, Arpan Sheth said in a statement.
The e-retail market is set for substantial growth in the upcoming years, as online spending presently constitutes only 5-6 percent of the total retail spending in India. This is in stark contrast to the United States, where online spending comprises 23-24 percent, and China, where it is as high as 35 percent, underscoring significant potential for expansion. According to the report, the majority of retail expenditure in India (94-95 percent) remains offline, with general trade constituting 87 percent of the overall retail spend. The report further estimates that over 60 percent of internet users in India have yet to embrace online shopping.
Major FMCG corporations are making significant strides in e-commerce, making concerted efforts to leverage its extensive potential. Backed by substantial financial resources, robust brand recognition, and significant investments in technology, these companies are poised to ride the surging wave of e-commerce. However, their vulnerability lies in the rapid rise of Direct-to-Consumer (D2C) brands, which constantly keep them on their toes, presenting a perpetual and looming threat.
The expanding e-retail sector is giving rise to an increasing network of small sellers. “The seller ecosystem is also exploding to cater to these consumers,” the report says. “Twice as many sellers were added in 2022 compared to 2021. Two-thirds came from Tier 2+ cities, and three-fourths operate in the lifestyle, home, and electronics categories. Insurgent online-first brands have emerged as a fast-growing seller cohort, with more than threefold revenue growth from 2020 to 2022. These brands resonate especially with Gen Z consumers.”
Over 50% of the existing total seller base originates from seven cities, specifically Delhi NCR, Surat, Jaipur, Mumbai, Bengaluru, Hyderabad, and Kolkata. The noteworthy influx of new sellers from smaller cities suggests that major companies will encounter competition from numerous smaller brands. These emerging brands are poised to be closer to consumers, aligning with the fact that a significant portion of consumers resides in smaller towns and cities. Direct-to-consumer (D2C) brands, unencumbered by legacy issues, are recognized for positioning themselves in proximity to consumers.
“There is a large FMCG market and the per-capita consumption in many categories is low. But the job to increase penetration is for larger companies and when D2C targets their consumers offline, they will face a bigger challenge,” Soumya Mohanty of Kantar had said in a report early this year.
Over the past few years, several Direct-to-Consumer (D2C) brands have demonstrated that sizable retail brands can be established through modern digital channels, challenging the notion that a traditional retail approach is essential in today’s retail landscape. These D2C brands have successfully cultivated a more profound connection with customers. This highlights a changing consumer mindset, indicating that consumers are increasingly at ease with online transactions and place value on the overall shopping experience in addition to high-quality products.
Historically, marketplaces have harnessed the potential of the festive season by introducing extensive sales campaigns. Direct-to-Consumer (D2C) brands, however, had refrained from participating in sales during this period due to concerns about high return-to-origin (RTO) orders and customer acquisition costs. Yet, GoKwik reported last month that D2C brands on its network experienced a significant surge in order volumes on its platforms during the peak marketplace sale period this year, marking a reversal of the trend observed in recent years when these brands typically witnessed a decline in orders during marketplace festive season sales. Throughout the week-long marketplace sales, the Gross Merchandise Value (GMV) for D2C brands on the GoKwik network increased by 1.5 times in 2023 compared to the previous year. Order volume and GMV saw respective surges of 43% and 52%, aligning with the simultaneous growth in order volumes on marketplaces. A year prior, brands on the GoKwik network had experienced a 7% decrease in order volumes and a slight 6.5% uptick in GMV.
“This reversal in trend is a sign of natural progression of the eCommerce market. It means that the market is deepening. It shows that D2C is rapidly gaining popularity among shoppers, who are looking out for best offers and shopping experience,” said Chirag Taneja, co-founder and CEO, GoKwik, adding that the trend reversal did not imply that shoppers preferred D2C over marketplace or vice versa.
Another source of concern for major FMCG players could be the evolving consumer preferences, particularly among the masses who are transitioning to online shopping. According to a Redseer survey earlier this year, affluent consumers tend to favor premium products across various categories and are open to exploring new product lines. On the other hand, strivers prioritize essentials and favor sachetisation, while mass consumers are highly value-conscious, emphasizing the optimization of price over quality. The survey highlighted that nearly 60% of these consumers are willing to purchase unbranded products, provided they offer the right value. This inclination was even more pronounced in categories such as home & kitchen and fashion.
Major FMCG corporations must adopt greater agility and experimentation to seize the expansive emerging opportunities and ward off Direct-to-Consumer (D2C) brands. While these D2C brands may not necessarily scale up to directly compete, their growing numbers have the potential to erode market shares gradually with incremental impacts.
Swiggy, the food delivery platform, has unveiled its yearly summary report, providing valuable insights into the preferences and choices of India’s orders throughout the year. Biryani maintained its position as India’s preferred dish, securing the top spot as the most-ordered item on Swiggy for the eighth consecutive year.
In 2023, India recorded an impressive rate of 2.5 biryani orders per second, with Hyderabad emerging as the leading city in biryani consumption. Notably, every sixth order for the dish originated from Hyderabad, surpassing other cities in biryani preferences.
During the World Cup 2023 finals on November 19, India placed an order for 188 pizzas every minute.
The report also pointed out that user accounts in Chennai, Delhi, and Hyderabad led in placing orders, each having placed over 10,000 orders. The highest expenditure, in terms of value, came from a Mumbai user who spent INR 42.3 lakh on food.
During Durga Puja, Gulab Jamuns outpaced Rasgullas, securing over 7.7 million orders. As for the entirety of the nine-day Navaratri celebration, Masala Dosa consistently held its position as the most favored item in vegetarian orders.
The report highlighted that Bangalore claimed the title of the Cake capital of the country, with a staggering 8.5 million orders specifically for chocolate cake.
The report also provided data for Swiggy Instamart, its quick commerce vertical. The top-searched item on the platform was milk, followed by curd and onions.
“If you put all those who ordered from Swiggy Instamart’s top five cities in a country, it would be the 17th most populated in the world — Welcome to Insta-pur!,” it said.
The single highest order, valued at INR 31,748, was placed by a user in Chennai and included coffee, juice, cookies, nachos, and chips.
The biggest order, in terms of volume, was made by a user from Jaipur who placed 67 orders on Swiggy Instamart in a single day. As for the quickest delivery, Swiggy Instamart set a record in Delhi by delivering a packet of instant noodles in just 65 seconds.
The report emphasized that users of Swiggy Dineout witnessed savings amounting to INR 300 crore.
DrinkPrime, a trailblazing provider of IoT-enabled, customized water purifiers on subscription, marked a milestone on Wednesday with the inauguration of a cutting-edge production facility in Hyderabad. This strategic expansion underscores the company’s unwavering commitment to the city and its overarching vision of making clean, safe, and healthy drinking water easily accessible to all.
Hyderabad’s burgeoning demand and remarkable growth have triggered the imperative for a dedicated manufacturing facility. With an impressive 60% surge in growth in Hyderabad this year alone, DrinkPrime has achieved a remarkable 4x increase in its subscriber base over the past two years. The establishment of a dedicated facility in Hyderabad is strategically aimed at optimizing operations, ensuring efficient service, and eliminating logistical hurdles. This streamlined approach translates into faster delivery times, offering DrinkPrime subscribers in Hyderabad a more convenient and enhanced experience.
The continuous evolution of the city provides an opportune moment for the brand to extend its footprint in Hyderabad. The city’s revitalization initiatives, combined with its growing population and flourishing business environment, position Hyderabad as an optimal landscape for sustained expansion. DrinkPrime holds a strong belief that investing in the future of Hyderabad equates to an investment in the company’s ongoing success.
Vijender Reddy Muthyala, Co-Founder & CEO of DrinkPrime, also highlighted the brand’s deep-rooted connection with Hyderabad. “Being from Hyderabad myself, I have a special affinity for the city. It’s where DrinkPrime’s journey began in 2016 with our incubation at T-Hub. This new facility is just the beginning of our ambitious expansion plans. We’re aiming to reach 1 lakh households in Hyderabad within the next year, and we’re committed to making that happen by growing our team, enhancing our manufacturing capabilities, and scaling up our operations to meet the ever-growing demand for clean drinking water.”
Manas Ranjan Hota, Co-Founder & COO of DrinkPrime, expressed his gratitude to the city. “Hyderabad has shown us immense love and support, fueling our growth in terms of both subscriptions and sales. The love and support we’ve received here have been the lifeblood of our success. This new facility is our way of expressing our deepest appreciation for ensuring that every single resident of Hyderabad has access to the safe and healthy drinking water they deserve. We also plan to increase our presence in the city to cater to 100+ pin codes in Hyderabad.”
The ultimate goal in Hyderabad is to provide complimentary water purifiers to disadvantaged families and promote sustainable water management practices for a more promising future for the city. Currently, as a component of the #DonatewithDrinkPrime initiative, the brand is dedicated to supplying safe drinking water to more than 750 students in government schools.
DrinkPrime goes beyond mere business pursuits, extending its dedication to the core of Hyderabad through diverse initiatives. The establishment of this cutting-edge production facility serves as evidence of DrinkPrime’s mission-oriented approach. It signifies a commitment to progress, creativity, and societal accountability.
Bhubaneswar-based dairy tech startup Milk Mantra faced a financial setback in the fiscal year ending on March 31, 2023. Despite registering profits in two consecutive years, the Eight Road Ventures-backed company reported a net loss of INR 12.3 Cr in FY23. This marked a notable reversal from the INR 13.6 Cr net profit recorded in FY22, with the stagnation of its operating revenue cited as the primary factor for the downturn.
Founded in 2009 by Srikumar Misra and Rashima Misra, Milk Mantra began operations in 2012. The startup offers products under two brands – Milky Moo and Moo Shake, featuring a range of items such as packaged milk, curd, paneer, lassi, mishti dahi, and flavored milkshakes.
Experiencing a modest increase of 2%, its operating revenue reached INR 272.9 Cr in FY23, compared to INR 267.1 Cr in the preceding fiscal year. This marginal growth suggests that the company is encountering challenges in expanding its business.
The primary source of revenue for Milk Mantra came from the sale of pasteurized milk. Nevertheless, revenue from milk sales experienced a 4.6% decline, decreasing to INR 162.5 Cr in FY23 from INR 170.5 Cr in the previous fiscal year.
During the year in review, sales of curd witnessed a marginal uptick, reaching INR 59.5 Cr, compared to INR 53 Cr in the previous fiscal year.
Cottage Cheese & Lassi proved to be lucrative for Milk Mantra, yielding INR 33 crore, reflecting a 17% growth compared to the INR 28.2 crore in FY22.
Taking into account additional revenue streams, the startup’s overall income experienced a 2.2% increase, reaching INR 277.1 crore in FY23, up from INR 271.1 crore in the preceding fiscal year.
The startup witnessed a 13% surge in its overall expenditure, reaching INR 289.4 crore in FY23, compared to INR 256.6 crore in the preceding fiscal year.
The largest chunk of expenditure for Milk Mantra in FY23 was allocated to procurement, totaling INR 220.8 crore. This marked a 14% rise from the INR 193.8 crore spent in FY22.
In FY23, the startup allocated INR 14.9 crore for the transportation of its products, indicating a 16% increase from the INR 12.9 crore spent in the preceding fiscal year. It’s important to emphasize that special arrangements are necessary for transporting dairy products due to their perishable nature, contributing to the associated costs.
Milk Mantra’s employee costs remained constant at INR 18.6 crore in FY23. These costs encompass various employee benefits such as salaries, provident fund contributions, and gratuity payments, among others.
It operates dairy processing facilities in Gop, Konark, Hatibari, and Sambalpur in Odisha. As part of its “Ethical Milk Sourcing Programme,” Milk Mantra has introduced bulk milk coolers in villages, facilitating engagement with over 75,000 dairy farmers in Odisha and neighboring states.
With support from notable investors such as Eight Roads Venture, US International Development Finance Corp, and Aavishkar Venture Capital, Milk Mantra has secured a cumulative funding of $39 million to date. The company faces competition from startups like Country Delight, Stellapps, and Happy Milk, while also contending with established dairy giants like Amul and Mother Dairy.
Less than three months after securing a $35 million funding round, Bengaluru-based Third Wave Coffee, a quick-service restaurant (QSR) chain, has undertaken a restructuring process resulting in the termination of approximately 10% of its workforce.
The layoff process began earlier this week, impacting almost all departments within the company, as sources revealed. Over 80 employees lost their jobs in this exercise.
Additionally, the startup has not cleared the dues of some of its vendors for quite some time, as reported by sources.
Third Wave Coffee officially acknowledged the layoffs in a statement. “TWC post a strategic review has decided on a one-time restructuring exercise to consolidate our teams, impacting less than 10% of the organisation. As an organisation we are in a strong position post the recent fundraise. We will continue to scale and build TWC as India’s most loved coffee brand.”
However, the startup did not address queries on pending vendor payments nor did it share details about the severance package being offered to the impacted employees.
Third Wave Coffee also refrained from revealing the count of its employees before the restructuring exercise. However, according to information available on LinkedIn, the company has approximately 580 employees.
In September, the startup secured $35 million in a Series C funding round led by Creagis. Existing investors, such as WestBridge Capital and Udaan co-founder Sujeet Kumar, also participated in the funding round.
According to media reports, the startup secured funding at a valuation of $150 million.
Back then, the startup announced its plans to use the fresh capital to double down on technology and product innovation to enhance the cafe experience across the country.
Established in 2017 by Ayush Bathwal, Anirudh Sharma, and Sushant Goel, the startup presently runs more than 100 stores nationwide. Additionally, it markets coffee products through its official website and various e-commerce platforms.
In FY22, the startup experienced a loss of INR 14.6 Crores, marking a 230% surge compared to the preceding fiscal year. Meanwhile, the total revenue witnessed a substantial increase of 177%, reaching INR 32 Crores.
Third Wave Coffee competes with the likes of Slay Coffee, Blue Tokai, Starbucks, among others.
Urban Indians are becoming more concerned about eating healthily as information about food tainted with fertilisers and chemicals is constantly being made public. The organic farmer’s markets in Delhi are more than just places to shop; they are vibrant, living environments that promote healthy living and are alive with the air of fresh food and the ethos of ethical buying.
These marketplaces guarantee a decent quality of life for us as well as for farmers by giving them a fair share price for their goods, doing away with middlemen and promoting organic farming.
Delhi has its own year-round farmer’s markets and is not far behind in this organic project. Additionally, these marketplaces provide more than simply freshly picked fruits and vegetables. Through many of their events, which are organized by farmers, environmentalists, and fitness professionals from throughout the nation, they also promote a sustainable lifestyle.
Every Saturday and Sunday, Sunder Nursery hosts a farmer’s market that features both new and old vendors, so be sure to check them out each time you visit. About 45 stalls filled with local clothing brands, accessories, and home décor are available, in addition to a variety of food and homegrown skincare products.
Fresh farm produce, groceries, jams and preserves, drinks, body and home care products, terracotta cookware, composting, natural fertilisers, pesticides, and anything else needed to create a sustainable, natural lifestyle are all available at this market.
Timings: 9am-2pm, Saturday and Sunday
Entry Tickets: Priced at 35rs per person (at Sunder Nursery, Delhi)
2. Delhi Organic Farmer’s Market
This market, which is run by eco-aware individuals, allows organic farmers and primary producers to offer their goods. Some farmers travel all the way from Rajasthan to become part of the market. The market is also known to host festive foods (don’t forget to check out their unique Christmas cakes this season). Pearl millet, beans, pulses, fresh fruits, and—wait for it—gourmet cheese make up some of the other organic treats.
Where: Poolside, The Park Hotel, 15 Parliament Street, Connaught Place, Delhi
Timings: 9am-12pm, Sunday
3. Handpicked
It is your one-stop farmer’s market for superior and rich organic items. A wide variety of foods are available, including lush green vegetables, pulpy fruits, dairy products, organic jams, pickles, different breads, herbs, and spices. Their very own in-house breakfast offers a delicious selection of organically prepared foods, including pizzas, paranthas, salads, sandwiches, eggs, and more, making it the perfect spot to get a nutritious lunch while shopping. Additionally, the market promotes one-on-one conversations with experts about topics around sustainability, as well as hosts open stage performances for anyone who’d like to sing songs, or recite in the winter sun.
Where: Horizon, DLF 5
Timings: 11am-5pm, Saturday
4. Farmae Organic & Natural Market
This is a consciously curated organic and natural market, promoting sustainable brands that care about personal and planet health. Along with a large assortment of food grown nearby, it also sells artisan goods including cheese, bread, and candies. Families, foodies, and those looking to live a more natural and sustainable lifestyle will find Farmae Organic & Natural Market to be a terrific destination because of its warm and inviting ambiance.
Where: Community Center, Asian Games Village Complex, Siri Fort
Timings: Sunday, 8 AM – 2 PM
Remember: Every conscious decision you make at these farmer’s markets makes a tiny but significant difference in your health, the health of your community, and the environment. Let your exploration of Delhi’s organic hotspots serve as a step toward a sustainable and nourished future !
Burger Singh, the homegrown quick-service restaurant chain, announced on Thursday that it has secured pre-Series B funding in a round led by trading company Turner Morrison Ltd. This funding round also witnessed active participation from Homage Ventures LLP – Office of Aditya Ghosh.
Existing investors, including Ashvin Chadha from Anicut Capital, Vikramaditya Mohan Thapar from Thapar Family Trust, Mumbai Angels, and LetsVentures, were also part of the round.
Although Burger Singh did not disclose the specific amount of funding secured, it asserted that the round resulted in a valuation boost to $52 million (approximately INR 433 crore), up from its previous valuation of $23 million in July 2022.
In its Series A funding round held in July last year, the burger chain raised INR 30 crore, with Negen Capital leading the investment.
Burger Singh plans to roll out 15 ‘Burger Singh Express’ kiosks in the next 60 days at various metro stations in Delhi-NCR, with the aim of expanding into high-traffic areas like universities, malls, hospitals, and airports.
Measuring 100 sq ft, these kiosks are touted as highly adaptable and cost-effective by the startup, as they do not necessitate water drainage or other utilities aside from an electrical connection.
“Our expansion is not just about scaling up; it’s about innovating and evolving in the QSR space. The ‘Burger Singh Express’ model is a crucial part of this vision,” Burger Singh founder Kabir Jeet Singh said.
He mentioned that the kiosks mitigate the risks associated with location and high rental costs, enabling franchisees to achieve a quicker return on their investment.
Established in 2014, Burger Singh boasts a presence with more than 150 outlets across over 65 cities, encompassing locations such as Delhi-NCR, Lucknow, Jaipur, and Dehradun. Positioned as the third-largest burger chain in India, this startup competes in the quick-service restaurant (QSR) sector alongside renowned brands like Burger King, McDonald’s, Subway, Domino’s, and KFC.
As per analysis, the size of the Indian Food and Beverage (F&B) market was $11 billion in 2022, and it is projected to achieve a 25% Compound Annual Growth Rate (CAGR) to reach $68 billion by 2030. Consequently, investors are making substantial investments in this sector, and numerous startups within the space have secured funding in recent periods.
Earlier this year, Good Flippin’ Burgers secured $4 million in its Series A funding round from Tanglin Venture Partners. The funds are earmarked for geographical expansion, strengthening its supply chain, and refining its dining and quick-service models.
Furthermore, Third Wave Coffee, a Quick Service Restaurant (QSR) chain, obtained $35 million in a Series C funding round led by private equity firm Creaegis. The funding will be directed towards enhancing technology and product innovation to provide an enhanced cafe experience throughout the country.
Taco Bell, the American fast-food restaurant chain, is set to experiment with its latest range of frozen coffees and shakes for a limited time in California.
Drawing inspiration from Mexican flavors, Coffee Chillers and Churro Chillers will undergo testing as exclusive menu items in two Californian cities starting December 15, 2023.
Coffee Chillers will be offered at the company store located on Santa Margarita Parkway in Mission Viejo, while Churro Chillers will be available at the Barranca Parkway store in Irvine.
Presented in a 16oz cup, Coffee Chillers will feature an infused flavor, filled with blended iced coffee, and topped with a layer of cold foam. The available flavors for Coffee Chillers include Mexican Chocolate, Caramel Churro, and Spiced Vanilla.
The Churro Chiller, too, will come in a 16oz cup with an infused flavor. It will be filled with a blended sweet shake, complemented by cold foam, and adorned with churro crumbles as toppings. The available flavors for the Churro Chiller include Mexican Chocolate, Dulce de Leche Coffee, Wild Strawberry, and Sweet Vanilla.
The restaurant brand will also introduce a Sweet Vanilla Churro Chiller featuring a distinctive purple hue.
Taco Bell US chief marketing officer Taylor Montgomery stated, “We’re always pushing the boundaries to deliver the bold and crave-able Mexican-inspired flavours our fans have come to expect from us, and these frozen drinks showcase how far our innovation goes.
“We are constantly listening to what our fans are craving next and we are thrilled to offer them a frozen creation that’s just as delicious and desirable as their favourite menu item.”
In early December 2023, Taco Bell brought back its Double Decker Taco for the holiday season, offering this special treat for a limited time at all of its stores across the country.
The Double Decker Taco comes with exclusive digital deals for a limited time.
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