Indulge Beverages raises $2 m

Indulge Beverages, maker of premium tea and coffee capsules under brand Bonhomia, has raised funds worth $2 million from investors, such as former co-founder and senior MD of Helion Venture Partners’ Kanwaljit Singh, Ruchi Soya Industries’ Business Head Sarvesh Shahra, and MarketGate Consulting’s Shripad Nadkarni. In a statement, Kunal Bhagat, co-Founder & CEO, Indulge Beverages, said: “Bonhomia presents an excellent opportunity to not only tap but actually grow the market for ‘single serve’ format in India. In about six months of operations, we have had to increase our capacity from one million capsules to 20 million capsules.” The company will use the funds to expand its geographic presence and product range.