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Mumbai-headquartered cookie brand Sweetish House Mafia (SHM) has raised ₹12 crore from investor Adar Poonawalla, Chief Executive Officer at vaccine manufacturer Serum Institute of India.
The company will use the pre-Series A funding to strengthen its reach in existing geographies and grow into newer cities by 2020-end, besides expanding the current product line. The funds will also be deployed in newer business verticals as the company develops its own e-commerce platform, it said in a statement.
“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 SHM founding partner Aakash Sethi.
“We will deploy some funds to strategically build our team, as we plan to launch our own e-commerce platform shortly,” Sethi added.
The brand’s bestsellers include its signature Nutella Sea Salt, Double Chocolate Chip and classic Chocolate Chip cookies.
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