Ninecamp Ventures, a burgeoning start-up renowned for managing multiple high-quality brands in the food and beverage sector, has successfully raised $2 million in seed funding from a group of angel and non-institutional investors, according to a report by Inc42.
Founded by Chaitanya Mathur, a former executive at Zomato, Ninecamp Ventures focuses on delivering world-class dining and consumer products, emphasizing superior services, innovative design, and high-quality ingredients. Mathur, who was instrumental in launching Zomato’s live events platform, Zomaland, has an extensive 17-year career working with various entertainment and event brands including Excited Monkey Entertainment, Banging Beats, and co-founding the festival platform Grub Fest.
The funding round saw participation from several prominent figures in the startup ecosystem. Among the investors are Zomato co-founders Mohit Gupta and Gaurav Gupta, Honasa co-founders Ghazal and Varun Alagh, Cars24 co-founders Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, and Gajendra Jangid, as well as PharmEasy co-founder Dharmil Sheth.
“We truly envision that consumers in India would appreciate the kind of products we are building as a next generation of food and beverage, especially in the dining space and then largely in the sector as a whole. We are starting with a few premium dining products and look to go deeper with categories like quick service restaurants, casual dining outlets, and maybe even delivery-only brands,” said Chaitanya Mathur, founder and CEO of Ninecamp Ventures, in an interview with Inc42.
Ninecamp Ventures launched its first restaurant, Marieta, in Gurugram in April last year. The current leadership team includes COO Punweet Singh, formerly the co-founder of beverage company Jade Forest, and Chief Marketing Officer Sukriti Chopra.
The Indian food and beverage industry is on a robust growth trajectory, with a projected compound annual growth rate (CAGR) of 27% until 2030, as reported by Inc42. Ninecamp Ventures aims to capitalize on this growth by expanding its footprint in the premium dining segment and exploring other areas such as quick service restaurants, casual dining outlets, and delivery-only brands.
This move by Mathur is part of a broader trend of seasoned executives in the Indian startup ecosystem leaving their corporate roles to embark on entrepreneurial ventures. Notable examples include former Times Internet CEO Gautam Sinha, who recently launched an artificial intelligence (AI) start-up called SimpleO.AI, and Swiggy executive Karthik Gurumurthy, who also intended to start his own venture but eventually returned the funding he had received to the investors.
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