Mumbai based cookie chain Sweetish House Mafia has now secured INR 12 crore from the Indian Billionaire and CEO of Serum Institute Adar Poonawalla Investment Banking firm under the Ashika Capital Limited, Ashika group, facilitated the funding.
Mihir Mehta, Senior Vice President, Ashika Capital Limited, said,
“Sweetish House Mafia has the status of an iconic neighborhood brand that has immense growth potential, and investment from Adar comes as a great validation.”
The Aakash Sethi and Neha Sethi founded sweetish House Mafia in April 2013. Apart from retailing its mouth-watering cookies via the food tech aggregates Zomato and Swiggy, House mafia is also planning to open more stores where it is already present – Pune Mumbai, Kolkata, and Bangalore.
“A few levers that will push this sector will be strengthening of the supply chain infrastructure, increasing disposable incomes, growing spend proportions, and higher internet penetration, resulting in better awareness, and lastly, the availability of larger financial and human capital.”