Manam Chocolate, a premium Indian D2C craft chocolate brand, has raised $9 million in a Series A round led by Omnivore to fuel its growth, including opening new retail outlets in Delhi NCR over the next year.
- Raised $9M in Series A funding led by Omnivore
- Plans to open new retail stores in Delhi NCR within 12 months
- Sources cacao from over 150 farmers across 3,000 acres
What happened
Manam Chocolate secured $9 million in a Series A funding round led by Omnivore with participation from the Turner Morrison consortium. The Hyderabad-based brand, launched in 2021, specializes in premium Indian craft chocolates with a diverse portfolio of over 300 products spanning chocolate bars, beverages, desserts, and confectionery.
The company plans to deploy the fresh capital to expand its retail footprint by launching new stores in the Delhi NCR region within the next 12 months. This effort follows recent retail initiatives like the flagship experiential centre in Hyderabad and a beverage bar opened in 2025.
Why it matters
Manam Chocolate's fundraising comes at a time when India's premium chocolate market is experiencing rapid growth, projected to reach $639.7 million by 2033 with a CAGR of 9.4%. The brand’s focus on origin-led storytelling and artisanal craft resonates with rising consumer demand for premium and clean-ingredient products.
Furthermore, this investment highlights the growing traction of Direct-to-Consumer (D2C) brands in India’s ecommerce landscape. D2C companies are driving significant growth due to increased premiumization and enhanced fulfillment capabilities, with the segment’s GMV forecasted to surge from $65 billion in 2026 to $310 billion by 2031.
What to watch next
Manam Chocolate's upcoming retail expansion in the Delhi NCR market will serve as a critical test of its ability to scale physical retail experiences beyond its Hyderabad base. Monitoring customer reception and operational execution in this key metro area will be important indicators of the brand’s growth trajectory.
Investors and market watchers should also watch how Manam leverages its vertically integrated cacao sourcing model from Andhra Pradesh to maintain product quality and origin authenticity. Continued innovation in product offerings and immersive retail formats will be essential to differentiate from competitors in the crowded premium chocolate segment.