Mumbai-based food and beverage startup, Haazri, has raised a fresh investment round worth Rs 1.25 crore.
The startup was founded by Karan Shinghal, Arjun Midha and Dhruv Agarwal and provides tea, coffee and various snacks to the people of Mumbai, so far having a presence within around 50 office locations.
“Our vision with Haazri is to raise the standard of the street food culture in India,” Agarwal said, as reported by Livemint. “Over the past six months, Artha has pushed us to shape our brand into a one-stop solution for the coveted 10-minute break from office. We are thrilled to have Anirudh Damani on board as a mentor. We consider Artha nothing less than a partner in this journey to grow Haazri.”
According to a statement, funds from the seed funding round will be put toward the opening of around 20 new locations, as well as toward team growth, specifically in the business aspect of the company.
Artha Venture Fund, an investment fund worth around Rs 200 crore which focuses on seed rounds raised by startups, was the investor in the current round raised by Haazri.
Since its founding in April 2016, the startup has opened four locations throughout the city of Mumbai and focuses its locations on areas that have more business in them.
“Hygiene and standardization have become imperative for millennials,” Anirudh Damani, Managing Partner at Artha Venture Fund said. “They want every product to offer these qualities at an affordable price. Haazri checks off all these boxes and their low capex setup cost will allow them to scale rapidly. Therefore, they are an ideal candidate to operate as a franchise model.”
(Picture courtesy: http://www.haazri.com/)
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