Mumbai: Indulge Beverages Pvt. Ltd, which makes single-serve tea and coffee capsules under the brand name Bonhomia, has raised $500,000 in a bridge round of funding from Valpro Capital and existing investors.
It had raised $2 million from a group of angel investors in 2015. The company is currently in talks with potential strategic investors for an investment.
The New Delhi-based company, founded in 2013 by Kunal Bhagat and Tuhin Jain, is looking to use the funds for strengthening its distribution and manufacturing capabilities.
“Bonhomia has carved out a niche brand in the single-serve beverage segment and is poised at the ideal inflection point to capitalize on the aspirational consumption segment of urban India. Both Kunal and Tuhin are driving operations and strategy efficiently to capitalize on the strong foundation built by them,” said Anshuman Khanna, director, Valpro Capital.
Bonhomia has already set up over 60 consumer experience zones across the country and plans to expand the same to more than 150 by the year end, given the strong consumer traction. The company’s capsules and brewing machines are available in retail stores like Croma, Foodhall, Hypercity and Godrej Nature’s Basket.