Grano69 Beverages, a promising brewery startup, recently made headlines as it successfully raised INR 8.5 crore in funding from Mumbai Angels. The company’s remarkable achievement was revealed in a press release on Wednesday, marking a significant milestone in its journey to success.
During the funding round, several prominent investors joined in, including Hyderabad Angels, Finnvolve, Speed Fund, AngelList India, and Friends and Family. Additionally, existing investors Dauble PTE and Dev Punj also participated in the funding round.
With the newly raised capital, the brand aims to bolster its geographical presence and amplify its production capacity.
Nandini Mansinghka, CEO, Mumbai Angels, said, “The brand’s steady growth is indicative of its high potential and we are confident that this funding will enable them to grow further and gain a significant share of the market.”
The Indian beer industry is experiencing a Compound Annual Growth Rate (CAGR) of 9.8 per cent.
Established in 2017, Proost beers have rapidly made their mark, becoming readily available in 1500 retail outlets spanning four states: Delhi, Uttar Pradesh, Kerala, and Punjab. This remarkable expansion is part of the company’s ambitious plan to boost its total production capacity to an impressive 1,50,000 cases per month.
Edible oil brand, Sunpure, has taken a significant step forward by venturing into the Mustard oil segment. With ambitious plans, the company aims to achieve a revenue target of INR 25 crore in the upcoming financial year, as stated in its recent press release on Wednesday.
Mannan Khan, Director, MK Agrotech, said, “Traditional edible oils such as soybean, palm, sunflower, and mustard oil continue to be the mainstay, even as newer choices are being explored in Indian households. Sunpure Mustard Oil is rich in monounsaturated fatty acids (MUFA) and polyunsaturated fatty acids (PUFA), including OMEGA 3 and OMEGA 6, making it a healthy choice for all.”
With a focus on meeting the needs of its expanding consumer base across India, the company has laid out plans to establish an edible oil refinery in Mumbai. This strategic move is aimed at enhancing their production capabilities and ensuring a steady supply of high-quality edible oil to customers throughout the country.
In FY 2022-23, Sunpure experienced a remarkable 15 percent growth and successfully extended its operations throughout multiple states, including Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa, and Tamil Nadu.
Recently, the company also acquired Riso, a leading edible oil brand from Maharashtra. This strategic move was aimed at fortifying its presence in key markets and expanding its reach in the industry.
Butterfly High made its grand entrance into the lively heart of Bollywood in Oshiwara, Mumbai, captivating the city with its lively ambiance, an exquisite blend of flavors, energetic music, and a touch of celebrity allure.
Today, Butterfly High stands as the epitome of indulgence, drawing in connoisseurs and revelers alike. This lively hotspot embraces all, from the early birds seeking delightful mornings to the night owls craving unforgettable escapades. With ambitions spread across the nation, Butterfly High continues to soar, riding on Bollywood’s flamboyant charm and sprinkling moments of delight wherever it ventures!
Nestled within the vibrant Windsor Corporate Park, Butterfly High boasts a premier location, serving as the gateway to Mumbai’s latest hotspot.
Adorned with a delightful palette of green and grey, Butterfly High’s architecture is complemented by captivating limelight fixtures and abundant greenery. The brilliant concept, curated by the dynamic father-son duo Nishant Desai & Umesh Desai of Umesh Desai & Associates, embraces an exquisite equatorial theme, infusing the space with a warm and inviting ambiance. Amidst a city teeming with hustle and chaos, this fourth outpost of Butterfly High is envisioned as a serene oasis, offering a dreamy calm that sets it apart from its surroundings.
The interiors exude a seamless flow of textures and colors, with an abundance of integrated plants adding to the allure. Warmer green and grey elements gracefully blend with lighter details, such as mammoth glass windows alongside sculpted columns and dramatic wall coverings. The carefully chosen light fixtures invoke a tropical vibe and evoke memories of mesmerizing sunrises and sunsets, blending harmoniously with the lively and fresh surroundings.
At one corner, the focal point steals attention with the decked bar, adorned in rich white Italian marble, showcasing the meticulous craftsmanship through fluting and grooving techniques. The central ceiling becomes a mesmerizing spectacle, adorned with lamps intricately designed with metal-carved leaves in a soothing pastel green hue, juxtaposed against contrasting ruby red lamps against a dark ceiling. Hand-made cane/bamboo discs complement the lamps, creating an artistic pattern across the exposed ceiling, maximizing the sense of height.
The layout entices visitors to explore the space, offering various seating options, including high seating areas and cozy dining nooks furnished with sofas, chairs, and tables. Dark wood tops, coupled with fabrics in shades of grey, blue, and green, add a touch of elegance and sophistication to the furnishings.
One particularly charming section of the restaurant is the private dining room, featuring inviting curved niches adorned with painted wall coverings. A library unit is dressed with carefully curated artifacts and picture frames, while the printed tile flooring adds a unique touch to the ambiance, creating a cozy and intimate space for guests to enjoy.
The undisputed gem of this area is an imposing bar, enticing patrons to delve into a world of new flavors, exquisite ingredients, and captivating aromas. With the expert guidance of master mixologists, guests can unleash their creativity and fashion their own distinctive cocktails, immersing themselves in an experience that is as intuitive as it is memorable.
Nikita Poojari, a second-generation restaurateur with a prestigious lineage tied to iconic brands like Shiv Sagar and Mahesh Lunch Home, is dedicated to delivering an elevated epicurean experience. Consequently, the food at her establishment is meticulously crafted with equal thought and attention to detail.
The menu at this culinary establishment is a result of meticulous crafting by the esteemed corporate chef, Vinayak Patil, a true culinary maestro. It embodies a unique gastronomic vision that transcends boundaries, offering a singular realm of diverse gustatory expeditions. Each dish on the menu invites guests to embark on a remarkable culinary journey, where flavors harmonize and boundaries blur, leaving them exclaiming, “Hum angrezo ke zamane ke foodie hai.”
The culinary adventure begins with a delightful selection of soups, including the ever-popular Manchow Veg/Chicken, a timeless classic, and the renowned Tomato Curry Leaf Rasam, a signature creation. Healthy salads like the world-class Butterfly High Caesar Salad Veg/Chicken are also offered. Moving on to small plates, guests can indulge in global favorites with a twist, such as the English Cheddar Tandoori Mushroom, Chilly Oyster Paneer, fully loaded nachos, signature Lotus stem chips with Plum sauce, an assortment of baos, kebabs, and more.
The curated list of large plates features signature handcrafted Thai curries, irresistible Biryanis, burnt garlic rice, mouth-watering parathas, dan dan noodles, pasta, and other delectable options. Paying tribute to the vibrant state of Maharashtra, the menu includes authentic favorites like kothimbir vadi and the Ranti Chicken/Mutton Sukha Pita Pocket, among others.
The dining experience culminates with a touch of sweetness as guests savor the signature desserts that leave a lasting impression and create beautiful memories. The extraordinary lineup includes the timeless indulgence of the classic Nutella pancake, the enthusiasm of the Lotus Biscoff cheesecake, the rarity of the Sea Salt Caramel Baked Cheesecake, and the unforgettable flavors of the signature Mario’s Discovery and Rum & Nut Cake, making it a definite must-try for all dessert enthusiasts.
Located in Mumbai, this restaurant’s menu is a celebration of diverse flavors, showcasing the culinary expertise of Chef Vinayak Patil and a tribute to the richness of Maharashtra’s cuisine.
At The Spicy Hour, the bar offers a star drink that has become an innovative addition and a favorite among the crowd. With a simple twist of zesty ginger and tequila, combined with a generous dose of bitters, this concoction delights the taste buds.
The meticulously crafted menu, curated by the esteemed Head Mixologist, presents a delightful array of options to cater to every palate. From refreshing and temperate choices to indulgent creations, there’s something for everyone to enjoy. One such offering is the Stealth Margherita, skillfully shaken with blanco tequila, agave, cool cucumber puree, and a hint of hot chili flakes.
For those seeking a tantalizing blend of flavors, The Butterfly High’s Secret Punch awaits. This intriguing concoction combines elements from the Jungle Bird and Garibaldi cocktails, infused with a medley of fresh fruit juices, creating a harmonious and satisfying taste.
The love for beaches comes alive with The Enchanted Island cocktail, where the sweetness of lychee intertwines with the tanginess of grapefruit, crafting an enchanting love story over a blend of five secret white spirits.
Whether one’s preference is for bold and spicy or subtle and refreshing, the bar’s meticulously crafted menu offers a delightful selection of innovative drinks that are sure to leave guests coming back for more.
Guided by an unwaveringly vibrant aura and an unyielding commitment to perfection, Nikhil Rochlani, the managing partner, propels the group towards unparalleled achievements at a remarkable pace. As Butterfly High continues to evolve, expand, and enhance the hospitality experience, Rochlani’s exceptional leadership takes center stage.
Under his guidance, every aspect of the establishment is meticulously curated, pushing the boundaries of the menu and introducing innovative surprises. From undiscovered ingredients sizzling in the kitchen, ready to ignite flavor explosions, to the incorporation of modern culinary techniques, the culinary offerings take guests on an unforgettable gastronomic journey.
Moreover, the liquid indulgences on offer chart a tantalizing path towards the future, offering a taste experience that is nothing short of extraordinary. Rochlani’s visionary approach ensures that the hospitality at Butterfly High reaches new heights, leaving patrons with an unparalleled and memorable experience.
Butterfly High is an abode for timeless evenings and leisurely afternoons, exuding a captivating allure of darkness and delectable delights. Whether it’s one’s unique palate, a love for musical rhythm, or a desire to connect with like-minded souls, the venue serves as a convergence point for jubilation. Guests can prepare to embark on a remarkable journey of revelry as they find their way to this entertainment capital!
Shortly after the Delhi Metro Rail Corporation (DMRC) announced its decision to permit commuters to carry two sealed liquor bottles on board Delhi Metro trains, the city government’s Excise department promptly raised concerns. The department has red-flagged this relaxation, asserting that it contradicts existing laws and regulations. Consequently, they are urging authorities to reconsider this allowance.
A senior officer from the Excise department stated that, in accordance with the Excise Act, individuals are allowed to carry only one sealed bottle of liquor, such as rum, vodka, or whisky, while traveling from one state to another.
According to the officer, the Metro trains facilitate the transportation of commuters between Delhi and NCR cities like Noida, Ghaziabad, Gurgaon, and Faridabad. However, permitting any individual to carry two sealed bottles would constitute a violation of the Act.
“Also, liquor can not be sold to any person less than 25 years of age in Delhi, while in cities like Gurugram, liquor can be sold to anyone 18 years. The relaxation means any underage person can bring liquor from other places through Metro trains and consume it in Delhi,” the officer said.
The officer stated that the Delhi Metro Rail Corporation (DMRC) received a notice, requesting a modification in the policy regarding the carriage of liquor bottles. The proposal aims to ensure that carrying two bottles of liquor by commuters on Metro trains connecting Delhi to Uttar Pradesh and Haryana cities does not lead to a violation of the Excise Act. The suggested amendment suggests allowing only one bottle of liquor per commuter to comply with the regulations.
A DMRC statement said the decision on what items are permitted for carriage on the Delhi Metro is based upon permissibility by the security agency in charge of handling the same for the Corporation.
“Passengers are expected to follow extant rules and regulations of the concerned state excise department with regard to carrying liquor during cross-border transit,” the DMRC said.
However, the “concern” of the excise department will be conveyed to the security agency to examine accordingly, it added.
The DMRC last month permitted commuters to carry two sealed bottles of alcohol per person on Delhi Metro trains. Earlier, carrying alcohol was banned in the Delhi Metro except on the Airport Express Line.
The two-bottle norm was recommended by a committee comprising DMRC and Central Industrial Security Force (CISF), which is responsible for security at Metro stations.
Starbucks, the renowned US-based global coffeehouse chain, has made a captivating entry into the city of Vapi, Gujarat. Thanks to the efforts of Arete Group, the developer of the Starbucks brand, coffee enthusiasts in Vapi can now relish their favorite brew at the brand’s first-ever store in the city. Spanning an impressive 1,550 sq. ft, this charming outlet finds its home in the bustling Galaxy High Street shopping complex, offering both locals and visitors a delightful coffee experience in a vibrant setting.
Siraj Saiyed, Director, Arete Group, said, “We are thrilled to welcome Starbucks to Galaxy High Street. We are confident that this collaboration will further enrich the overall atmosphere of Galaxy High Street, making it a sought-after destination for coffee enthusiasts and shoppers alike.”
In October 2012, Starbucks Corporation made its grand entry into the Indian market by opening its inaugural store in Mumbai. To establish its presence and operate in India, the American coffee chain joined forces with Tata Global Beverages through a collaborative effort. This strategic partnership led to the formation of a 50:50 joint venture known as Tata Starbucks Pvt. Ltd. This joint venture is responsible for managing and operating all Starbucks outlets across the country, making sure the Indian audience can savor the iconic Starbucks experience with a touch of local expertise.
Situated in the southern region of Gujarat, Galaxy High Street stands out as a vibrant shopping and entertainment complex. This dynamic destination is renowned for its eclectic mix of retail outlets, entertainment choices, and a delightful array of culinary experiences. Acting as a comprehensive one-stop location, it caters to all your shopping needs, offers a diverse selection of dining options, and promises a host of leisure activities to indulge in. Whether you seek retail therapy, delicious meals, or engaging entertainment, Galaxy High Street has it all, making it a favorite spot for locals and visitors alike.
Founded in 1990, Arete Group has evolved into a versatile and diversified business conglomerate. With a strong foothold in various industries, the group boasts an extensive presence across multiple segments. These include industrial parks, real estate, retail ventures, hospitality establishments, and strategic investments. Over the years, Arete Group has shown remarkable growth and adaptability, establishing itself as a significant player in the business landscape, making valuable contributions to different sectors of the economy.
According to sources familiar with the matter, the Andhra Pradesh State Beverages Corporation is expected to raise around INR 5,000 crore by issuing bonds in early August.
“They are likely to carry out the bond sale around August 10. It is for up to INR 5,000 crore and is in the STRIPS (separate trading of registered interest and principal securities) format for 10 years,” said one of the persons cited earlier.
The STRIPS facility enables the separate purchase and sale of a bond’s coupon payments and principal amount as individual securities. In essence, investors can trade the cash flows of a bond independently.
These bonds are commonly known as ‘zero-coupon’ bonds, which implies that they do not offer interest payments. Instead, their allure for investors lies in the fact that they are purchased at a substantial discount, significantly below the face value to be paid upon maturity. Recently, the AP State Beverages Corp managed to raise INR 10,005 crore through two series of NCDs (Non-Convertible Debentures) at an interest rate of 9.62%.
On Tuesday, ITC, a conglomerate, joined hands with the Department of Post to unveil a unique postal stamp aimed at promoting awareness about millets. The special stamp’s launch ceremony took place with the esteemed presence of Kailash Choudhary, the Minister of State for Agriculture and Farmers’ Welfare, along with Chief Post Master General Sushri Manju Kumar and S Sivakumar, the ITC Group Head – Agri-Business.
According to a statement, the ITC Mission Millets postal stamp recognizes the vital contribution of farmers while also establishing a link between sustainable farming, nutritious food products, and delectable millet-based recipes and dishes.
At the event, Choudhary emphasized the government’s efforts in promoting Shree Anna (millets), highlighting India’s status as the world’s largest millet producer.
Numerous initiatives have been undertaken by the Ministry of Agriculture and Farmers Welfare, including celebrating the International Year of Millets-2023, organizing the G20 Agriculture Ministerial Meeting (AMM), and designating ICAR-IIMR, Hyderabad, as the Global Centre of Excellence on Millets (Shree Anna).
ITC’s Sivakumar said, “Supporting the government’s focus on mainstreaming millets, ITC has spearheaded a dedicated initiative called ITC Mission Millets which is powered by a 3-pillar strategy. This encompasses the development of a ‘good-for-you’ foods portfolio backed by innovation, implementation of sustainable farming systems with the creation of a robust millets agri value chain with special thrust on enhancing value-addition and market linkages.”
Presently, there is a heightened emphasis on increasing consumer awareness regarding the advantages of millets, recognized as a nutritionally superior food choice.
ITC has innovated an array of millet-based products available in both traditional and modern formats, encompassing ready-to-eat meals, cookies, noodles, vermicelli, choco sticks, snacks, as well as staples like Multi Millet Mix and Ragi Flour.
In addition, ITC Hotels have curated and incorporated exclusive millet-based dishes into their buffet offerings.
Earlier this year, ITC launched its Mission Millets initiative to bring millets to the mainstream.
Mondelez India, renowned for its popular brands like Cadbury Dairy Milk, Oreo, and Bournvita, announced on Tuesday that it will be injecting INR 1,600 crore into the expansion of its manufacturing facility located in Sri City, Andhra Pradesh. To commemorate this milestone, the company conducted a virtual groundbreaking ceremony, graced by the presence of esteemed guests, including YS Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh, and other dignitaries.
During an earlier announcement this year, Mondelez India had disclosed its intention to invest INR 4,000 crore between 2023 and 2026 to enhance its operations in the country. This investment aims to increase the production capacity of their current factories, as well as improve warehousing, logistics, and cold-chain infrastructure. The recent INR 1,600 crore investment in the Sri City manufacturing plant is a significant component of this broader investment strategy.
“The investment will add additional chocolate-making capacity over the next three years, helping Sri City to become one of the Mondelēz International’s largest chocolate production plants globally. This investment will also create additional employment in the State,” the company said in a statement.
In a statement, Venkat Venepally, Vice-President – Supply Chain at Mondelez India said, “Our Sri City manufacturing plant has been a critical site and we are continuing to invest to expand our capacity and footprint in the state of Andhra Pradesh. Sri City not only contributes to the overall growth of our business in India but is also a model site for sustainability, new innovations and in areas like diversity and inclusion.”
US-based breakfast food brand Seven Sundays has made significant strides in its latest round of funding, successfully raising $6 million in growth capital.
The company, known for manufacturing gluten-free and/or grain-free breakfast cereals, has earmarked the funds for both New Product Development (NPD) and environmental initiatives.
Minneapolis-based Seven Sundays aims to enhance its supply chain programs, prioritizing upcycling, supporting regenerative agriculture, and minimizing packaging waste.
In the recent funding round, Seven Sundays secured investment from a consortium of private individual investors, as well as follow-on investors like Sidekick Partners, Clover Vitality, and GRT SHT Ventures.
Hannah Barnstable, the Founder and CEO of B-Corp-certified Seven Sundays, said, “From day one we have been on a mission to create better tasting and better-for-you cereals for people and their families.”
Katjesgreenfood, the venture-capital arm of the German consumer-goods company Katjes Group, was among the early investors in the company. Back in 2017, the unit acquired a 15% stake in Seven Sundays.
Earlier this year, Katjesgreenfood acquired a stake of around 10% in Mymuesli, a German supplier of customisable muesli, for an undisclosed fee.
National Company Law Tribunal has appointed Shailendra Ajmera, backed by EY, as the resolution professional (RP) for Coffee Day Global, as stated in an order uploaded on its website.
Coffee Day Global company has been admitted for insolvency proceedings by the bankruptcy court upon the request of IndusInd Bank. The bank filed a claim in court asserting that the company had defaulted on term loans amounting to INR 115 crore, which were disbursed to them in 2019.
Ajmera is also serving as the resolution professional for Go First, the insolvent airline of the Wadia group.
Coffee Day Global encompasses the extensive retail outlet network, Xpress cafés, and the group’s office vending business, all of which were established by the late VG Siddhartha.
Coffee Day Global is predominantly owned (82%) by Coffee Day Enterprises, a publicly listed entity.
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