Bangalore (Karnataka), [India], October 16, 2024: India Sweet House, one of the fastest-growing brands in the Indian confectionery sector, has successfully raised 1 Million USD in its latest pre-IPO funding round, led by Viney Equity Market LLP, the self-funded investment arm of the Viney Aggarwal Family. This investment reflects strong investor confidence in the brand’s rapid expansion and innovative approach to traditional Indian sweets and snacks. Inteelifin Private Limited acted as the sole advisors for this funding round. The company is now preparing to file its Draft Red Herring Prospectus (DRHP) with the stock exchange to initiate its IPO.
The founders of India Sweet House have opted for the IPO route, choosing a path that deviates from the usual trend of seeking private equity or venture capital. This strategic choice underscores their long-term vision of building a sustainable and profitable business while staying true to their mission of delivering high-quality sweets and savouries to customers across India and beyond. India Sweet House boasts another house brand called Chaatimes, a favourite family destination for enthusiasts of authentic and delicious chaats and street food. Founded by an Ex-Infosys employee and an Ex-Media professional, Chaatimes has grown to approximately 20 outlets across Bengaluru. Their menu showcases a diverse range of dishes from various regions of India, setting them apart from their competitors.
Through this partnership, Viney Equity Market aims to support India Sweet House’s expansion plans while fostering the growth of local brands that emphasise quality, tradition, and community. Speaking on the investment, Anant Aggarwal, Managing Partner at Viney Equity Market LLP, said, ‘India Sweet House is an iconic brand that resonates deeply with our vision of backing businesses that reflect the richness and diversity of India. At Viney Equity Market LLP, we are committed to empowering companies by providing strategic capital and support that fuels their growth and innovation. This investment aligns with our broader goal of nurturing homegrown enterprises, enabling them to scale while preserving their authenticity and values. We are excited about the growth prospects of the brand and are proud to be part of this journey.’
Shwetha Rajashekar, Vishwanath Murthy, and Rajesh Mehta, Co-Founders of India Sweet House, expressed their excitement about the latest funding round, “We are thrilled to welcome Viney Equity Market LLP and their team as we embark on the next phase of our growth journey. Opting for the IPO route will enable us to operate the business more efficiently and expand our reach to a broader customer base across the country. We remain dedicated to maintaining the highest standards of quality and tradition in all that we do.”
India Sweet House, established in 2020, recently opened its 35th store in Hassan, Karnataka, and has quickly grown to become a beloved brand known for its high-quality, freshly made sweets using milk from their own dairy farm, along with snacks and street food-inspired offerings. The company will use the funds to expand its footprint in major cities across India and enhance the customer experience both in-store and online.