Manam Chocolate Raises $9 Mn in Round led by Omnivore

The company plans to use the funding to expand its retail network to 18 stores over the next two years, launch new product categories, and enter new markets as part of its growth strategy.

Chaitanya Muppala, Founder, Manam Chocolate, said, “This investment marks an important milestone in our journey to build a globally respected Indian craft chocolate company rooted deeply in origin.”

Reihem Roy, Partner, Omnivore, said, “Premium consumer brands like Manam Chocolate, anchored with a strong farmer-partnered supply chain, demonstrate how origin-led value addition can improve livelihoods at the farm level while reducing the commodity-price volatility.

"As climate pressures reshape global cacao supply, investment in alternative, high quality origins such as india represents both a commercial opportunity and contribution to a more resilient global food system, " he added.

Founded in 2021 by Chaitanya Muppala, Manam Chocolate is a bean-to-bar craft chocolate company that makes its products using cacao grown in India.

In addition to selling chocolates directly to consumers, the company also exports premium cocoa beans and supplies chocolates to hotels, restaurants, and cafés.

Gifting is a major part of its business, contributing about 65% of its revenue through corporate gifts, special occasion gifts, and personal gifting products.

Manam sells its products through retail stores, its own website, online marketplaces, and quick-commerce platforms. However, nearly 80% of its sales still come from physical stores.

The company currently operates three stores in Hyderabad and the Delhi-NCR region. It also partners with more than 250 farmers who grow cacao on over 3,000 acres of land in Andhra Pradesh.

Read Also- Uni Seoul Raises $3.6 Mn in Series A Round