D2C premium craft chocolate brand Manam Chocolate has raised $9 Mn (about ₹86 Cr) in its Series A funding round led by Omnivore, with participation from the Turner Morrison consortium
The fresh capital will be used to fuel the brand's expansion, including the launch of new retail spaces in the Delhi NCR region over the next 12 months
Manam Chocolate sells premium Indian craft chocolate with more than 300 offerings across 50 categories, including chocolate bars, beverages, desserts and confectionery products
D2C premium craft chocolate brand Manam Chocolate
has raised $9 Mn (about ₹86 Cr) in its Series A funding round led by Omnivore, with participation from the Turner Morrison consortium.
The fresh capital will be used to fuel the brand’s expansion, including the launch of new retail spaces in the Delhi NCR region over the next 12 months.
Founded in 2021 by Chaitanya Muppala, Manam Chocolate sells premium Indian craft chocolate with more than 300 offerings across 50 categories, including chocolate bars, beverages, desserts and confectionery products.
The brand sources cacao from farmers in Andhra Pradesh and operates across the value chain, spanning fermentation, chocolate making and retail experiences.
In a statement, the Hyderabad-based startup said it was launched with the aim of establishing West Godavari in Andhra Pradesh as a globally recognised origin for fine-flavour cacao. To support this vision, it set up a cacao fermentery in Tadikalapudi and now works with more than 150 farmers cultivating cacao across 3,000 acres in the region.
The brand sells its products through its own website, retail stores, online marketplaces, and quick commerce platforms.
Manam Chocolate opened its flagship experiential centre, Manam Chocolate Karkhana, in Hyderabad in 2023, followed by the launch of a beverage bar in the city in 2025. In June 2026, it expanded to New Delhi with the opening of its flagship retail store in Saket.
The funding comes amid growing consumer appetite for premium and craft chocolates with rising interest in artisanal products, cleaner ingredients and experiential retail formats. Brands are increasingly focusing on origin-led storytelling, product innovation and immersive retail experiences to differentiate themselves in the competitive market.
India’s premium chocolate market is projected to reach $639.7 Mn by 2033, registering a CAGR of 9.4% between 2026 and 2033.
The funding also comes at a time when D2C brands in the country are growing at a rapid pace on the back of rising premiumisation and faster fulfillment capabilities. D2C brands are emerging as the driver of ecommerce growth in the country, with their cumulative GMV projected to grow to $310 Bn by 2031 from $65 Bn in 2026.
As a result, investors remain bullish on the broader D2C segment. Earlier this month, healthy snacking startup Phab raised $4 Mn in a Pre-Series A funding round led by OTP Ventures and Chona Family Office.
Prior to that, D2C food brand Anveshan raised $15.8 Mn in a Series B funding round led by Vertex Ventures Southeast Asia & India.
Source: Inc42 - Startups
