The startup plans to utilise the fresh capital to expand its dark store network, strengthen its technology and data infrastructure, deepen retailer engagement, and enhance last-mile delivery capabilities. At present, the platform operates across the Delhi-NCR region.

Founded in 2022 by brothers Prateek Bansal and Yash Bansal, Fairdeal.Market focuses on enabling faster and more reliable inventory access for kirana stores through a technology-enabled B2B quick commerce model. The platform currently delivers more than 1,000 SKUs to retailers within 60 minutes by combining real-time inventory visibility, transparent pricing systems, and rapid fulfilment operations.

Prateek Bansal said, “India’s kirana stores are the backbone of the country’s retail economy, yet the procurement infrastructure serving them has barely evolved in decades. The inefficiency isn’t incidental; it’s structural. If we can help millions of small retailers operate better every day, the impact will go far beyond commerce, it will strengthen local economies across the country.”

According to the company, it has scaled to more than 20,000 active retailers across Delhi-NCR over the last six months. The startup stated that its operating model is specifically designed around the replenishment frequency and operational requirements of kirana retail businesses.

Yash Bansal said, “We started Fairdeal with a simple belief that every retailer, no matter how small, should have access to reliable inventory and the ability to grow with confidence.”

Following the latest funding round, the company is now preparing to expand beyond Delhi-NCR into additional metropolitan markets across India. The startup aims to scale its network to more than one lakh retailers during the current financial year.

Rohit Sood said, “FairDeal is building a new operating model for wholesale procurement in India. What Prateek and Yash understood early was that quick commerce in wholesale is not just about convenience; it fundamentally improves inventory turns, shelf efficiency, and replenishment reliability for kirana stores.”

The funding reflects the growing momentum within India’s B2B commerce and retail technology ecosystem, where startups are increasingly leveraging data infrastructure, quick commerce logistics, and supply chain digitisation to improve operational efficiency for small retailers and strengthen local retail economies.

Previously, in May 2025, the company raised ₹115 crore from Sauce.vc along with the Chona family office. Following the current round, Hocco’s pre-money valuation has climbed to ₹2,500 crore (around $267 million), signaling strong investor confidence in its growth trajectory.

The company plans to deploy the newly raised capital to significantly enhance its manufacturing capabilities. Specifically, Hocco aims to scale its production capacity to 4 lakh litres per day, up from the existing 2.5 lakh litres. In line with this strategy, the brand has already operationalised a new production facility in Panipat this week. Moreover, it intends to establish another plant in South India next year to support regional demand. Additionally, Chona indicated that the company may explore contract manufacturing options as demand continues to outpace supply.

At the same time, Hocco continues to expand its geographic footprint across India. While it maintains a strong presence in North and West India, it has recently accelerated growth in markets like Telangana and Chennai through retail channels. Meanwhile, the company has strategically targeted Karnataka and West Bengal via quick commerce platforms. In contrast, Delhi NCR remains largely driven by a pushcart-based distribution model.

Currently, Hocco operates approximately 200 company-owned parlours and restaurants, which contribute about 5% to its total revenue. However, general trade dominates its revenue mix, accounting for nearly 75%, while quick commerce platforms such as Instamart, Blinkit, and Zepto generate around 20%. Furthermore, the company runs about 3,300 pushcarts and plans to scale this number to 5,000 by next summer to strengthen last-mile distribution.

Founded in 2023 by the Chona family, Hocco represents their re-entry into the ice cream segment after they sold Havmor to Lotte Confectionery in 2017 for ₹1,020 crore. Notably, the family launched Hocco after the expiration of a non-compete clause.

On the financial front, Hocco reported a revenue of ₹532 crore in FY26. However, it recorded an EBITDA loss ranging between 10% and 12%, translating to approximately ₹63 crore. Despite this, the company has significantly improved its profitability metrics.

Looking ahead, Hocco is targeting EBITDA breakeven in FY27, supported by a projected revenue of ₹900 crore. “As a percentage, we have more than halved our losses, and this year… We’ll probably try and break even on the EBITDA front (in the current financial year),” Chona said.

In addition to operational expansion, the company is actively preparing for a potential IPO within the next three years. To fuel its next phase of growth, Hocco also plans to raise a larger funding round of ₹400–500 crore from private equity investors.

Hocco’s latest funding round underscores its rapid rise in India’s competitive ice cream industry. By scaling production, expanding distribution channels, and leveraging quick commerce, the brand is positioning itself for sustainable growth. With IPO ambitions on the horizon and improving financial performance, Hocco is steadily moving toward becoming a dominant player in the FMCG and frozen dessert segment.

The company will use the fresh capital to broaden its product line, upgrade its processing infrastructure, and scale its distribution and marketing presence across multiple channels.

Founded in 2014, Wonderland Foods provides a diverse range of nutritional snacks such as nuts, seeds, berries, dried fruits, and dates. The company follows a farm-to-consumer model built on direct farmer sourcing, in-house processing, and distribution across both B2B and B2C markets.

On the consumer retail front, its products are available on leading e-commerce platforms like Amazon and Flipkart and in major offline chains, including Reliance, D-Mart, Vishal Mega Mart, Lulu Super Mart, Metro Cash & Carry, and Walmart.

The company reported revenues of Rs 95 crore in FY21, growing to Rs 540 crore in FY25, and is now targeting Rs 700 crore in FY26.

Wonderland Foods operates in the premium healthy snacking category, competing with brands such as Happilo, Nutty Gritties, and Open Secret.

The Delhi-headquartered company intends to deploy the funds to scale operations, diversify its product portfolio, strengthen its distribution network across India, and expand into Gulf Cooperation Council (GCC) markets.

“We will be launching a new 3,000-tonne refined flour manufacturing plant in October,” said Abhishek Kaushik, founder and chief executive of the company. “At the same time, we will also launch new product categories such as multigrain flour, whole wheat flour, diabetic-friendly flour, sugar-free, gluten-free, rice, and more, in the coming months.”

“Our vision is to make Mitra one of the top five FMCG companies in India within the next 2–3 years, with a clear roadmap towards an IPO,” he added.

To date, Mitra has raised nearly ₹25 crore and is preparing for a Series A round in April 2026, targeting a ₹500 crore valuation.

“The FMCG sector in India is poised for significant disruption, and Mitra’s ability to blend traditional food preparation methods with modern quality standards makes it a brand with immense potential,” said Raman Sharma, founder and chief executive of Bestvantage Investments. “Their growth trajectory speaks volumes of the scalability and demand for their products.”

Founded in 2023, Mitra has demonstrated rapid growth, with revenues increasing from ₹11 crore in FY2024 to ₹40 crore in FY2025. The company expects to close the current financial year with revenues exceeding ₹120 crore, supported by a strong distribution base of over 500 distributors and 40,000 retail touchpoints.

In a statement, Agro Tech Foods Ltd (ATFL) stated that acquiring Del Monte Foods Pvt Ltd (DMFPL) strengthens its presence in India’s food and FMCG market.

“With this, Bharti and DMPL have become shareholders of ATFL following the completion of a preferential allotment of equity shares of ATFL, with Bharti becoming the second largest shareholder with a 21 per cent stake and DMPL having 14 per cent stake in ATFL,” it said.

ATFL has also appointed Harjeet Kohli, Joint Managing Director of Bharti Enterprises, as a director on its board.

According to the filing, the combined revenue of ATFL and DMFPL stood at ₹1,300 crore in FY24, with DMFPL contributing approximately 40% of the total.

DMFPL was previously a joint venture, with Bharti Enterprises holding a 59.29% stake, while DMPL India, a subsidiary of Del Monte Pacific, owned the remaining 40.71%.

ATFL’s acquisition of DMFPL marks a strategic expansion in the Indian FMCG sector, strengthening its portfolio and market presence. With the integration of Del Monte Foods, the company aims to drive growth and enhance its offerings in the packaged food segment.

This funding is part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative designed to support high-potential startups like Leanworx by providing strategic funding, mentorship, and market access.

Leanworx stated in its press release that it will use the funds to scale marketing and lead-generation efforts in India and Southeast Asia and to advance product development, including hardware and software certification.

Founded in 2017 by D. Srihari, Bhagavan S. K., and Dasarathi G. V., Leanworx offers an advanced AI-driven machine monitoring system that provides decision-makers with real-time, actionable insights from shop-floor machines. The company’s Industry 4.0 cloud-based SaaS products and IoT devices ensure data reaches managers in just one minute, compared to the 24-hour delay caused by traditional paper-based data systems.

The Indian Industry 4.0 shop-floor monitoring market comprises over 3 lakh machines in metalworking and 9 lakh machines in FMCG manufacturing, with the global market being 60 times larger. Leanworx’s plug-and-play, IoT-enabled system addresses the low machine utilization rates—typically between 30% and 50%—caused by delays and inaccuracies in manual data collection. Leanworx helps manufacturers optimize machine capacity and improve operational efficiency by delivering precise, real-time data.

With this funding, Leanworx is well-positioned to expand its footprint in the growing Industry 4.0 market, enabling manufacturers in India and beyond to embrace smarter, faster, and more efficient shop-floor management.

The company plans to use this new capital to boost its production capabilities, speed up new product development, and expand its presence in key markets, mainly in southern India.

This fundraising comes when new-age ice cream brands increasingly attract venture capital investments.

“We are incredibly pleased to partner with Faering Capital for our next phase of growth,” said Pradeep Pai, managing director, Hangyo Ice Creams. “Their investment brings not only financial support but also a wealth of experience and strategic value to our company. This partnership will greatly enhance our expansion plans, driving growth and reinforcing our market leadership.”

Founded in 2003, Hangyo Ice Creams has established a presence in states like Karnataka, Tamil Nadu, Kerala, Goa, Andhra Pradesh, Telangana, and Maharashtra, with about 350 distributors and 30,000 retailers.

It offers various products in various flavors and formats, including cups, cones, sorbets, sticks, and tubs, distributed through general trade, modern trade, and online channels.

Hangyo Ice Creams operates two manufacturing facilities in Karnataka, producing 120,000 liters of ice cream daily.

India’s ice cream industry, estimated to be worth about $5 billion this year, has seen a rise in new-age brands. Emerging players like Noto, Get-A-Way, Go Zero, Frubon, and Minus 30 are competing for market share in a sector traditionally led by legacy brands like Amul, Mother Dairy, Hindustan Unilever’s Kwality Walls, and Jaipuria group’s Cream Bell.

“Hangyo Ice Creams is a fast growing and profitable consumer company that has consistently delivered high quality products driven by state-of-the-art manufacturing, wide distribution and strong customer love. Faering Capital is delighted to partner with Hangyo in their next stage of growth,” said Sameer Shroff, managing director, Faering Capital. 

As part of the #Dildilli6ka campaign, the brand is offering an exclusive promotion on its Indimix range – Bedmi Poori. Along with being a beloved staple of Delhi, this ready-to-cook Bedmi Poori mix is rich in nutrition and 100% natural. It contains no preservatives or artificial colors, making it a health-conscious choice for consumers.

Speaking about the campaign, Shammi Agarwal, the Director of Pansari Group, said, “Our #Dildilli6ka campaign is not only celebrating the rich culinary heritage of Delhi but also the spirit of nourishment that defines the entire monsoon season. Bedmi Poori is not just a cherished dish in Delhi but all over the nation, and we hope that our Indimix range brings joy and convenience to our loyal consumers and enhances family moments with a taste of tradition and a rewarding experience.”

In order to participate, buy the product from Blinkit, Amazony, Flipkart, Zepto, Big Basket, the World of Mart, or any nearby retail store, scan the QR code available on the product packaging, and fill in the details accordingly. This monsoon not just enjoy the authentic crispy taste of Bedmi Poori but also receive an assured Amazon voucher and other exciting rewards as a token of appreciation for their loyalty.

About Pansari Group

From Humble Beginnings to Healthy Success, the brand’s vision is to lead a health-centric food products company for home cooking with products ranging from edible oils to instant mixes. Their mission is to create customer delight through safe, healthy, and nutritious food cooked at home with ease and joy. Pansari Group is a continuous learner who doesn’t shy away from embracing new possibilities. They are always striving to achieve more through technology and innovation, keep a close eye on the consumers’ ever-evolving needs, and adapt readily to changing circumstances.

With a background in the consumer brands sector, Swaminathan previously held the position of Vice President for the oral care and deodorants business at FMCG company Hindustan Unilever Limited.

As the Chief Growth and Marketing Officer at Swiggy, Swaminathan will implement the company’s growth and marketing strategy. This involves engaging new and returning customers and seeking partnerships to enhance Swiggy’s market position.

“Ashwath brings with him the right experience and a strong track record of strengthening consumer brands and growth marketing through data-driven insights and strategic collaborations. He joins Swiggy at a time of unprecedented opportunity, and we’re excited by the critical role he will play in bringing our mission of unparalleled convenience to life,” said Sriharsha Majety, Group CEO of Swiggy.

Swiggy has expanded its leadership team by bringing in Anirban Roy as the Vice President of Growth, Revenue, Category, Swiggy Instamart, and Dipak Krishnamani as the Vice President of Swiggy Mall. 

The move comes as the on-demand convenience platform prepares for its upcoming public-market listing, following the example set by rival Zomato, which went public in 2021.

Swiggy has undergone significant changes to its board, appointing independent directors such as Mallika Srinivasan, Chairman and Managing Director of TAFE; Shailesh Haribhakti, Chairman of Shailesh Haribhakti and Associates; and Sahil Barua, Managing Director and CEO of Delhivery. 

During the financial year ending March 2023, Swiggy witnessed a 44% increase in revenue from operations, reaching Rs 8,264.6 crore, and achieved its first-ever profitable month.

Swiggy experienced a slight 15% increase in losses, reaching Rs 4,179.3 crore from Rs 3,628.9 crore in the previous year, primarily due to escalating expenses. 

In March of the preceding year, CEO Majety announced that the company, backed by Prosus and Invesco, achieved its inaugural profitable month, marking a milestone 14 years after its establishment.

“This is a milestone for food delivery globally, not just for us, as Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than nine years since its inception,” Majety had written in a blog post, adding that the company now looks to gain a stronger foothold in Tier II and III markets.

Prominent entities in the food manufacturing, marketing, and retailing sectors will showcase their top products, establish connections with emerging D2C brands, engage with investors and channel partners, and glean profound insights and expertise from industry leaders at the India Food Forum 2023. Established in 2008 with the backing of the Ministry of Food Processing Industry (MoFPI), the India Food Forum stands as one of the country’s major food retailing platforms.

This year, Pansari Group is showcasing the Pansari Epicure and a range of its other Pansari products in the India Food Forum at Stall No. BR-17. This latest venture by Pansari Group is set to redefine the HoReCa B2B segment by providing a comprehensive array of high-quality food ingredients to professional chefs, purchase managers, and small restaurant owners. Offering an exquisite variety of Rice, Oil, and Millet, along with the flavorful Chef’s Seasoning and Shasha spices, PANSARI EPICURE is dedicated to meeting the diverse needs of the HORECA sector.  

The company is also set to showcase its newest product introduction for 2023, “Mojee,” featuring a premium range of syrups alongside the recently launched “Pansari Chai”, which vows to provide a distinctive and delightful experience for tea enthusiasts.

Shammi Agarwal, Director of Pansari Group, says, “We are thrilled to unveil our premier product range at the 15th edition of The India Food Forum 2023. At Pansari Group, we firmly believe that the essence of any culinary masterpiece resides in its ingredients. The Indian Food Forum provides us with an ideal platform to showcase our finest products, explore innovative technologies, solutions, and tools to elevate our business and gather profound insights and knowledge from industry leaders. We extend a warm invitation for you to join us at Stall No. BR-17 during the India Food Forum 2023 and savor the taste of the future with Pansari Group.”

About Pansari Group

Pansari Group has been a leading FMCG brand for over 60 years, whose vision is to promote home-cooked meals for healthy living. The brand is continuously embracing new possibilities, keeps a close eye on the consumers’ ever-evolving needs, and adapts readily to changing circumstances.