Hyderabad-based premium craft chocolate brand Manam Chocolate has raised $9 million (around Rs 77 crore) in a Series A funding round led by Omnivore, with participation from the Turner Morrison Consortium. The fresh capital will be used to accelerate the company’s expansion plans, particularly in the Delhi-NCR market.
According to company statements, the funding will support the launch of new retail destinations over the next 12 months while helping the brand strengthen its teams and institutional capabilities as it scales.
Founded in 2021 by Chaitanya Muppala, Manam Chocolate has positioned itself as a vertically integrated craft chocolate company, controlling much of the value chain from cacao sourcing and fermentation to chocolate production and retail experiences.
The company currently operates experiential retail formats, including its flagship chocolate destination in Hyderabad’s Banjara Hills, a beverage-focused outlet in Hyderabad’s Knowledge City, and a recently launched store in New Delhi. It also serves customers across the country through its direct-to-consumer channels.
The newly raised capital will primarily fuel retail expansion in Delhi-NCR, a key market in the company’s next phase of growth.
Manam Chocolate has built its identity around a “bean-to-bar” model, owning and managing the chocolate-making journey from cacao farms to finished products. The company works with more than 250 farmers across over 3,000 acres of cacao farms in Andhra Pradesh, one of India’s largest cacao-growing regions.
The brand offers more than 330 products across categories ranging from chocolate bars and gifting boxes to desserts, pastries, beverages, and confectionery.
The fundraise comes as India’s premium chocolate market continues to grow, driven by rising consumer interest in artisanal products, premium gifting, and origin-focused food brands. Manam believes the category, currently dominated by imported European brands, presents a significant opportunity for homegrown players.
