Ninecamp Ventures, a start-up that oversees multiple high-quality brands in the food and beverage sector has raised about $2 Million in its seed funding from angel and non-institutional investors as per a report by Inc42
The enterprise, founded by Zomato’s former executive Chaitanya Mathur, primarily focuses on dining and consumer products aiming to offer world class services in terms of products, services, design, and ingredients.
Ninecamp Ventures, a start-up that oversees multiple high-quality brands in the food and beverage sector has raised about $2 Million in its seed funding from angel and non-institutional investors as per a report by Inc42
The enterprise, founded by Zomato’s former executive Chaitanya Mathur, primarily focuses on dining and consumer products aiming to offer world class services in terms of products, services, design, and ingredients.
Ninecamp launched its first restaurant Marieta in Gurugram in April Last year.
The funding saw notable figures including Zomato cofounders Mohit Gupta and Gaurav Gupta; Honasa cofounders Ghazal and Varun Alagh; Cars24 cofounders Vikram Chopra, Ruchit Agarwal, Mehul Agrawal and Gajendra Jangid; and PharmEasy cofounder Dharmil Sheth are among the investors who participated in the funding round.
Chaitanya Mathur played a pivotal role in establishing Zomato’s live business by creating Zomaland. With 17 years of experience in his bag, he has worked extensively with entertainment and event brands like Excited Monkey Entertainment, music portal Banging beats and co-founding the festival platform Grub Fest.
Currently Ninecamp Ventures team consists of COO Punweet Singh, who is the former co-founder of beverage company Jade Forest, and Chief marketing officer Sukriti Chopra.
“We truly envision that consumers in India would appreciate the kind of products we are building as a next generation of food and beverage, especially in the dining space and then largely in the sector as a whole. We are starting with a few premium dining products and look to go deeper with categories like quick service restaurants, casual dining outlets and maybe even delivery only brands,” founder and CEO Mathur told Inc42
As per a report by Inc42, the Indian food and beverage industry is expected to clock a 27 per cent CAGR till 2030.
The start-up floated by Chaitanya Mathur comes at a time when a lot of executives in many Indian start-ups are quitting their jobs with a view to start their own venture. Recently former Times Internet CEO Gautam Sinha started a new artificial intelligence (AI) start-up SimpleO.AI.
Karthik Gurumurthy, the executive of Swiggy who also wanted to embark on a similar journey with a new start-up subsequently quit despite bagging funding. He returned the investments back to the investors.