Fine Dine Startup Ninecamp Ventures Secure $2 Mn Funding

Ninecamp Ventures, a premium food and beverage brand house founded by Chaitanya Mathur, a former executive at Zomato, has raised $2 million (about INR 16.7 crore) from a group of angel investors and non-institutional investors during its seed investment round.

Among the investors who took part in the funding round are Mohit and Gaurav Gupta, cofounders of Zomato; Ghazal and Varun Alagh, cofounders of Honasa; Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, and Gajendra Jangid, cofounders of Cars24; and Dharmil Sheth, cofounder of PharmEasy.

The startup stated that it plans to increase the size of its workforce and brand portfolio with the money.

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Ninecamp, a food and beverage firm that was founded in October of last year, describes itself as a new generation company that specializes in high-end dining and consumer goods. With an emphasis on worldwide standards for quality, service, design, and ingredients, it seeks to provide a new wave of upscale dining experiences.

In April of this year, Ninecamp opened its first restaurant, Marièta, in Gurugram.

“We genuinely believe that the goods we are developing as the next generation of food and beverage will be well-received by Indian customers, particularly in the dining area and subsequently across the board. We are looking to go deeper with categories like quick service restaurants, casual dining establishments, and possibly even delivery-only brands. We are starting with a few luxury dining products,” said founder and CEO Mathur.

With over 17 years of expertise, Mathur was instrumental in launching Zomato’s live business by developing Zomaland. He founded a number of brands for events and entertainment. He established Excited Monkey Entertainment in 2008 and worked there till 2011. He then cofounded the festival platform The Grub Fest in 2014 and the music portal Bangin Beats in 2011.

The chief operational officer of Ninecamp is Punweet Singh, a former cofounder of the beverage company Jade Forest, and the chief marketing officer is Sukriti Chopra.

According to Mathur, the business also plans to eventually access the rapidly expanding consumer products market.

India’s food and beverage sector is predicted to grow at a 27% CAGR until 2030, according projections.

There are plenty of options available to Indian consumers, ranging from well-known companies like Amul, Baskin Robbins, and McDonald’s to startups like iD Fresh Foods, Chaayos, Coolberg, and Paper Boat. 

In spite of this, the industry still has ample potential for both new and established businesses to succeed.

At the same time as more and more prominent Indian startup leaders are leaving to launch their own startups, Mathur has launched his new venture. SimpleO.ai is a new artificial intelligence (AI) company founded by Gautam Sinha, the former CEO of Times Internet, earlier this year.

Karthik Gurumurthy, a former Swiggy executive, also resigned to launch a new company. He managed to secure funds for the project, but he allegedly gave the money back to the investors.

For Ninecamp Ventures, this successful seed investment represents a major turning point as it begins to innovate in the food and beverage sector. With the backing of key investors and the experience of its founder, Chaitanya Mathur, the startup is poised to make a big impression. The industry will be closely observing Ninecamp Ventures’ progress to see how it uses this funding to launch innovative and exciting new products.