Premium tea and capsules brand Bonhomia has raised $500,000 in a Bridge round of funding subscribed by most of its existing shareholders as well as some new investors. The company plans to use this funding to strengthen its manufacturing and distribution capabilities.
The investors included Valpro Capital and an entrepreneur running one of India’s largest consumer electronics companies.
Launched in 2014 by Indulge Beverages, owned by Kunal Bhagat and Tuhin Jain, capsules and brewing machines are widely available across all modern trade formats such as Croma, Foodhall, Hypercity & Nature’s Basket.
The company said that it will use the fund to grow exponentially in the coming months and gain a larger share of the estimated $500 million-plus and rapidly grow Indian Retail Coffee Market.
This Jain, the co-founder & CMO of Indulge Beverages, said, “The introduction of our single serve brewers to the retail consumers about 9 months ago has exhibited the huge consumer pull for the category as transactions on our own online platform bonhomiaworld.com have jump-shifted by over 20 times ”
Bonhomia has its coffee and tea sourced from the finest estates in India and roasted using Italian techniques. It’s espresso coffee capsule portfolio that offers a range of signature blends with varying intensities and flavours to suit the palate of Indian consumers.