Friday, June 14, 2024

The Betel Leaf Co. raises US$1.2M led by Inflection Point Ventures

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The Betel Leaf Co., India’s first FSSAI-certified online paan company, has successfully raised US$ 1.2 million in a Bridge Round of funding. This round was led by Inflection Point Ventures and Venture Catalysts. The company plans to use these funds to significantly expand its retail and online presence, aiming to grow from its current 45 kitchens to 100 kitchens across India and internationally within the next two years. Additionally, the funds will support the development of new automation technology designed to enhance consistency and increase production capacity, as well as expand the product range to include innovative offerings like the ARID paan, which boasts a 9-month shelf life and portability.

Prem RahejaCo-Founder and CEO,  The Betel Leaf Co., said, “The Betel Leaf Co. aims to redefine the traditional consumption of paan into a healthy and hygienic experience by merging technology with tradition. We aspire that every consumer enjoys the benefits of consuming Betel Leaf via paan or other paan-based products, establishing ourselves as leaders and category creators in this unorganized sector.”

The paan industry in India is currently estimated to be worth between INR 3000 to 4000 crore. With efforts to redefine paan consumption and bring it back into the mainstream, industry experts anticipate a growth rate of at least 100% year-on-year. This growth projection aims to better organize and capitalize on the sizable market.

Ivy Chin, Partner, Inflection Point Ventures, highlights the brand’s ability to address the challenge of providing hygienic, fresh, and authentic paan in a convenient manner. Chin expressed confidence in The Betel Leaf Co’s commitment to quality and its innovative approach to solving a unique problem.

Founded in July 2019 by Prem Raheja and Payal Raheja, The Betel Leaf Co currently operates in 20 cities across 12 states. The company is planning to expand its retail footprint through collaborations with prominent modern retail chains like Reliance Retail, Spar, and others, along with opening experiential brick-and-mortar stores to strengthen its brand presence. The Betel Leaf Co already exports its products to several international markets, including Singapore, Malaysia, Nairobi, the UK, and the USA.

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