Mumbai-headquartered cookie brand Sweetish House Mafia has raised Rs12 crore in pre-series A funding from investor Adar Poonawalla, CEO of vaccine manufacturer Serum Institute of India.
The company said it will use the funds to expand their reach in the cities they are present in, enter new cities in India by the end of 2020, and to expand the current product line. They will also use the funds to develop their own e-commerce platform.
Sweetish House Mafia was founded in 2013, by Aakash Sethi and Neha Sethi, a former investment banker in New York. The company has 12 stores at present, in Mumbai, Pune, Bengaluru and Kolkata.
"With the help of the funds raised, we want to further our brand outreach via new experiential stores in more than seven cities across India, including Delhi, Hyderabad, Ahmedabad and Chennai. We will continue to deepen our reach in existing cities where we have a strong presence and also increase our product range and categories across these geographies," said Aakash Sethi, founding partner of Sweetish House Mafia.
"We will deploy some funds to strategically build our team, as we plan to launch our own e-commerce platform shortly," he added.