Backed by Lighthouse and DSG Consumer Partners, the parent of Bombay Sweet Shop and The Bombay Canteen sets its sights beyond Mumbai.
Credits: Ascendants
A Sweet Vote of Confidence
In a powerful testament to India’s growing appetite for premium dining and artisanal sweets, Hunger Inc, the parent company of Bombay Sweet Shop, The Bombay Canteen, O Pedro, Veronica’s, and Papa’s, has raised ₹215 crore in a fresh funding round led by Lighthouse and DSG Consumer Partners.
The Mumbai-based culinary collective, known for blending nostalgia with innovation, plans to deploy the new funds toward scaling production, strengthening supply chains, and expanding nationally, with a flagship Bombay Sweet Shop in Delhi expected within the next 12 to 18 months.
Crafting a New Chapter in India’s Food Revolution
Founded in 2014 by Sameer Seth, Yash Bhanage, and the late Chef Floyd Cardoz, Hunger Inc has been a creative force in transforming how Indians experience food. The Bombay Canteen and O Pedro brought regional cuisines into the modern dining spotlight, while Bombay Sweet Shop reinvented traditional Indian mithai for the Instagram era — making sweets stylish, nostalgic, and deeply rooted in storytelling.
What started as a boutique experiment has become a cultural movement. Bombay Sweet Shop now contributes over half of Hunger Inc’s total revenue, reflecting India’s love for artisanal, premium sweets that celebrate craftsmanship and emotion as much as taste.
Sweet Business, Solid Numbers
According to available data, Hunger Inc recorded ₹115 crore in revenue in FY25, with an EBITDA margin of around 9%, and expects to surpass ₹150 crore in FY26.
Bombay Sweet Shop, its crown jewel, has emerged as a fast-growing omnichannel brand — generating ₹8–9 crore in monthly revenue through a mix of flagship stores, dark kitchens, and digital channels like Swiggy, Zomato, and its own website.
Currently, the group operates five retail outlets and 18 dark stores across Mumbai, serving as the operational hub of its direct-to-consumer business. The next phase — expansion into Delhi and other metros — will focus on production efficiency, distribution scale, and consistency in product quality.
Strategic Capital, Smart Exits
The funding round also allowed some early investors, including business veteran C.P. Gurnani, to partially exit the company — signaling maturity and stability within Hunger Inc’s cap table. The entry of Lighthouse and DSG Consumer Partners, both with proven track records in scaling consumer brands, adds not just capital but also strategic expertise.
Their backing underscores confidence in India’s modern food and confectionery landscape, a sector increasingly defined by storytelling, sustainability, and authenticity.
From Cafés to Cockpits: Expanding Through Partnerships
Beyond the retail front, Hunger Inc has been quietly building a robust B2B vertical. It already supplies handcrafted products to Starbucks and Oberoi Hotels, and recently began offering in-flight confectionery for IndiGo’s international business class.
These partnerships signal the company’s operational sophistication — critical for scaling perishable products that require precision in packaging, logistics, and shelf-life management.
The Art of Scaling Without Losing Soul
Expanding a handcrafted food brand across cities is a delicate balance between growth and identity. Hunger Inc’s challenge lies in maintaining its brand ethos — “crafted with care” — while managing supply chains and preserving freshness.
Investments in cold-chain logistics, last-mile delivery, and quality assurance will be pivotal. Yet, the timing couldn’t be better — India’s urban middle class is hungry for premium, story-driven food experiences that blend tradition with modern design and convenience.
Credits: Hunger Inc
A Flavorful Future
With this ₹215 crore raise, Hunger Inc is poised to evolve from a beloved Mumbai institution into a pan-India modern Indian food brand. The company’s next few years could redefine how Indian consumers experience sweets, dining, and gifting — rooted in heritage but served with a contemporary flair.
In many ways, Hunger Inc’s story mirrors India’s broader entrepreneurial evolution — where passion meets scale, where nostalgia meets innovation, and where every bite tells a story of modern India’s changing palate.
