Manam Chocolate raises $9M Series A to challenge imported Belgian, Swiss brands

Hyderabad-based bean-to-bar maker Manam closes Rs 86 crore round led by Omnivore VC, funding a four-year retail rollout across NCR, Mumbai and Bengaluru. Targets Rs 260 crore by FY28 in a Rs 5,000 crore premium chocolate market where imports hold Rs 4,500 crore.

— Source publishedThu, 11 Jun, 2026, 05:45 IST·First seen Thu, 11 Jun, 2026, 05:52 IST·Source Mint

What happened

Hyderabad-based Manam Chocolate raised $9 million Series A led by Omnivore VC to fund a four-year retail rollout across NCR, Mumbai and Bengaluru, targeting

Key facts

  • $9 million
  • Rs 86 crore Series A
  • Rs 5,000 crore premium chocolate market
  • Rs 4,500 crore imported share
  • Rs 53 crore FY26 revenue
  • Rs 125 crore FY27 target
  • Rs 260 crore FY28 target
  • 20% e-commerce share
  • 5% export share
  • 250 farms

Why this matters

Watch Manam as a potential acquisition target for ITC, Mondelez India, or Lindt seeking instant credibility in Indian craft chocolate before it consolidates the domestic premium segment.

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