Funding · Commerce & Consumer Brands

Manam Chocolate raises $9M from Omnivore

By Startup Enthusiast · 11 June 2026

What they do

Manam Chocolate makes bean-to-bar craft chocolate using Indian cacao

It raised $9M in a round led by Omnivore, with Turner Morrison consortium

The company plans to expand from 3 to 18 retail stores in two years

Manam Chocolate raised $9M (about ₹86 Cr) in a funding round.
The round was led by Omnivore, with participation from the Turner Morrison consortium.
The company will use the funds to expand its retail network, launch new product categories, and enter new markets.
It works with more than 150 farmers across 3,000 acres in Andhra Pradesh.
Near-term focus is on opening new retail spaces in Delhi NCR over the next 12 months.
Manam Chocolate also operates an experiential centre called Manam Chocolate Karkhana in Hyderabad, opened in 2023.
It opened a beverage bar in Hyderabad’s Knowledge City in 2025.

The Indian premium chocolate market is projected to reach $639.7M by 2033, growing at a CAGR of 9.4%.
Another estimate puts the market at $1.25B in 2025, projected to reach $2.24B by 2034.
D2C brands in India are expected to see cumulative GMV grow from $65B in 2026 to $310B by 2031.
Manam Chocolate competes with brands like Paul and Mike, Mason & Co, and Smoor.

Manam Chocolate is a bean-to-bar craft chocolate maker that uses Indian cacao.
It sources cacao from farmers in Andhra Pradesh, working with more than 250 farmers across over 3,000 acres.
The company operates a cacao fermentery in Tadikalapudi.
Its product range includes chocolate bars, gifting boxes, desserts, pastries, confectionery, and beverages.
It offers more than 300 offerings across 50 categories.
Sales channels include its own website, retail stores, online marketplaces, and quick-commerce platforms.
About 65% of revenue comes from chocolate and gifting products (corporate, social, personal).
About 80% of sales come from its physical stores.
It currently has 3 retail stores in Hyderabad and Delhi-NCR.

Omnivore (lead) — A venture capital firm focused on agriculture and food technology.
Turner Morrison consortium (participant) — A consortium of investors; no further details available from the facts.

Product: Premium craft chocolate products
Customers: Premium consumers seeking craft chocolate and gifting
How it makes money: Vertically integrated model with retail and D2C channels