The startup plans to use the fresh funding to expand its current retail and online presence from 45 to 100 kitchens in India and overseas within the next two years
Founded in 2019 by Prem Rheja and Payal Raheja, The Betel Leaf is a D2C company that sells paan and other paan-based products online
The company is also looking to expand its retail presence by partnering with retail chains like Reliance Retail, Spar and others
Bengaluru-based online paan startup The Betel Leaf has raised $1.2 Mn (around INR 10 Cr) in a bridge funding round co-led by Inflection Point Ventures and Venture Catalysts.
The startup plans to use the fresh funding to expand its current retail and online presence from 45 to 100 kitchens in India and overseas within the next two years, while also enabling the development of new automation technology to boost consistency and increase production volume and range. Fresh capital will also be used to diversify its product portfolio.
Founded in 2019 by Prem Rheja and Payal Raheja, The Betel Leaf is a D2C company that sells paan and other paan-based products online.
It has its paan offerings around Fresh Pans, ARID Pans, Celebration Hamper, Betel Chocolate and Betal Leaf Tea. Among the Fress Paan, it has eight flavours. The company also exports across Singapore, Malaysia, Nairobi, the UK and the US.
“We would like to make every consumer enjoy the benefits of consuming Betel Leaf by the way of paan or other paan-based products and looking at becoming the category creator and leaders in organizing this unorganized product,” said Rheja.
“In a fast-paced & transforming India, finding authentic, hygienic, and convenient options for traditional Indian desserts like paan can be challenging. The Betel Leaf Co is addressing this problem head-on by delivering hygienic, fresh, and authentic paan with a variety of flavours right to our doorstep,” said Ivy Chin, partner, Inflection Point Ventures.
The Betel Leaf is also looking to expand its retail presence by partnering with retail chains like Reliance Retail, Spar and others.
In 2021 the company secured $800K in a seed funding round led by Venture Catalysts and 100Unicorns (erstwhile 9Unicorns).
It counts 100Unicorns and individual investors like promoter of S Amit group of companies Amit Mehta, venture investor at Verlininvest Arjun Vaidya, and angel investor Masoom Minawala.
On the back of the overall funding winter, India’s ecommerce market experienced a notable contraction in startup funding in 2023.
According to Inc42’s latest “Indian Startup Funding Report 2023”, Indian ecommerce startups raised $2.6 Bn during the year, down 32% from $3.8 Bn raised in 2022.
