Hunger Inc, the parent company of Bombay Sweet Shop and restaurant brands including Bombay Canteen, Veronica’s, O Pedro, and Papa’s, has raised Rs 215 crore in fresh funding, cofounder Sameer Seth confirmed. The investment saw Lighthouse and DSG Consumer Partners acquire a significant minority stake in the company.
Based in Mumbai, Hunger Inc plans to use the capital to strengthen its production and supply chain capabilities as it expands beyond Mumbai.
“The capital will primarily be used for Bombay Sweet Shop and we’re going to start experimenting with Veronica’s because sandwiches and coffee is a scaleable format,” Seth said, adding that the company will not aggressively expand the Bombay Canteen and O Pedro brands for now. The deal also involved some early investors, including former Tech Mahindra CEO CP Gurnani and a few angels, exiting through secondary transactions.
The company’s existing backer includes the Godrej family office. Bombay Sweet Shop, an omnichannel retail brand for Indian sweets, chocolates, and other confectionery, now accounts for more than half of Hunger Inc’s revenue, Seth noted.
In fiscal 2025, Hunger Inc posted Rs 115 crore in revenue with a 9% EBITDA margin and expects a topline of Rs 150 crore in FY26. “Bombay Sweet Shop is tracking Rs 8-9 crore in monthly revenue,” he added.
Currently operating only in Mumbai, Hunger Inc plans to expand to Delhi with a flagship Bombay Sweet Shop over the next 12–18 months. The brand currently runs five retail outlets and 18 dark stores, delivering directly via its own website as well as through aggregators like Swiggy and Zomato.
Founded in 2015 by Seth, Yash Bhanage, and the late chef Floyd Cardoz, Hunger Inc began with its flagship restaurant The Bombay Canteen, followed by O Pedro, which serves contemporary Goan cuisine. In 2023, it launched Veronica’s, a sandwich and café format aimed at younger consumers, and Papa’s, a 12-seater chef’s table concept.
On the possibility of adding more brands, Seth said, “Never say never, but the short-term focus is on building out the playbook. We’ve done Mumbai well, and Delhi is the next logical step for now. As we build out the supply chain and backend, we’ll see what’s next.”
The funding comes as deal activity in India’s quick service restaurant (QSR) and café sector accelerates. Seth said Hunger Inc is also expanding its B2B and institutional sales, supplying products directly to Starbucks and Oberoi Hotels. Bombay Sweet Shop recently partnered with IndiGo to provide in-flight items for its international business class. However, the company has stayed away from the quick commerce segment.
“Quick commerce is going through its own evolution… till now everyone was fighting for lower price points. One of the players said they were akin to a kirana store. Now, if I won’t list at a kirana store, it doesn’t make sense to be at a kirana store-equivalent channel yet. But now they are recognising the need to push their average order values up. So those conversations will happen in the next 12 months to see how we can do the right thing,” Seth explained.
