As India’s appetite for premium sweets grows, venture capital interest in artisanal chocolate brands is also gathering pace. Hyderabad-based craft chocolate maker Manam Chocolate is reportedly in advanced discussions to raise its maiden funding round from Omnivore, according to sources cited by IndianStartupNews.
Sources familiar with the matter said the proposed round is expected to be in the range of $5–10 million, though the final size could be higher if both sides agree that additional capital is required to aggressively scale operations and expand into multiple regions across India.
A fast-rising craft chocolate brand
Founded in 2023, Manam Chocolate — which means “We” or “Us” in Telugu — has quickly built strong consumer recall, particularly in Hyderabad. Unlike many small-batch chocolate makers, Manam follows a full-stack approach, owning the process from cacao cultivation to finished chocolate and retail outlets.
On its website, the brand positions itself as an alternative to mass-produced chocolates, stating that large industrial players often “sacrifice the soul of chocolate for the sake of standardisation.” Manam claims its model allows it to unlock deeper flavour profiles by working closely with cacao from the earliest stages.
Funding likely to fuel expansion
While neither Manam Chocolate nor Omnivore has officially commented on the discussions, industry observers say the funding, if completed, could be used to expand production capacity, open new retail stores, and deepen the brand’s presence beyond its home market.
The deal also highlights growing investor interest in India’s craft chocolate segment, which remains at a nascent stage. Most Indian bean-to-bar chocolate makers rely on processed cacao beans rather than developing flavour at the fruit level, limiting differentiation. Manam’s vertically integrated approach is seen as a key moat in this emerging category.
Craft chocolate gains momentum
With consumers increasingly willing to pay a premium for quality, provenance and authenticity, India’s craft chocolate movement is slowly gaining momentum. A successful fundraise by Manam could signal a broader shift, encouraging more capital to flow into niche food and beverage brands that blend agriculture, sustainability and premium retail.