Artha Venture Fund Invests Rs 1.25 Cr Seed Funding in Tea Startup Haazri

Artha Venture Fund is a SEBI approved, 200 Crore, Category I Alternative Investment Fund.

Tea Startup Haazri has raised a Rs 1.25 crore seed round from Artha Venture Fund. Haazri is a Quick Service Restaurant startup that serves tea, coffee and snacks across 5 locations in Mumbai.

It provides tea, filter coffee and 4-5 fresh snack items in a low-cost kiosk at high corporate traffic areas. They maintain a standardized product at a low cost by having a limited menu and centralized warehouse. This also allows them to cut costs to 30-35% of the incumbent players, a benefit they then pass over to their customers. In essence, Haazri provides a hygienic and convenient alternative to the roadside hawkers that feed millions of Mumbaikars every day.

Haazri has three business models:

  1. Kiosks at corporate parks

  2. Supplying flasks of freshly brewed tea or coffee to offices

  3. Selling through food delivery partners

Just last month, Haazri opened their fifth location at Sagar Tech Plaza in Andheri, Mumbai. They now serve over 50 offices and are in conversation to open stores at 20 more locations across Mumbai with this funding round. Part of the round has also been earmarked to recruit senior talent for their business development, marketing and operations functions.

Haazri was founded in 2016 by Karan Shinghal, Arjun Midha, and Dhruv Agarwal.

Co-Founder Dhruv said, “Our vision with Haazri is to raise the standard of the street food culture in India. Over the past 6 months, Artha has pushed us to shape our brand into a one stop solution for the coveted 10 min break from office. We are thrilled to have Mr. Anirudh Damani on board as a mentor. We consider Artha nothing less than a partner in this journey to grow Haazri.”

Managing Partner of Artha Venture Fund Anirudh Damani said, “Hygiene and standardization have become imperative for millennials. They want every product to offer these qualities at an affordable price. Haazri checks off all these boxes and their low capex setup cost will allow them to scale rapidly. Therefore, they are an ideal candidate to operate as a franchise model.”

Artha Venture Fund is a SEBI approved, 200 Crore, Category I Alternative Investment Fund. It is sponsored by Artha India Ventures and Singularity Holdings, the family offices of Ashok Kumar Damani and Ramesh M Damani (ex-Directors of the Bombay Stock Exchange) and Madhusudan Kela (ex-Head of Investments at Reliance Capital Limited) respectively. The Fund is managed by Anirudh Damani, a 4th generation entrepreneur and investor with a track record across geographies.

AVF completed its first close and is scouting innovative and disruptive business models that have a high growth potential and team that with the ability & experience to execute.