FundingCommerce & Consumer Brands
Unify Foodworks raises ₹5 crore seed
By Abha Lohia · Editor ·
SeedNew DelhiFounded 2024
- Unify Foodworks holds the India-wide master franchise for Moe's Casa Mexicana and Carvel ice cream, started in November 2024
- It raised ₹5 crore as seed money through compulsorily convertible debentures, a debt that turns into shares later
- The money will add stores in the Delhi region first, with a long-term goal of over 100 outlets nationwide
What happened
- Unify Foodworks raised ₹5 crore in a seed round.
- The funds came through compulsorily convertible debentures.
- Money goes to more stores in the NCR region.
- It also covers supply chain, logistics and staff training.
- The aim is 100+ stores across India.
Why it matters
- Shows investor appetite for international food franchises in India.
- Denser stores in one region can lift brand recall before expanding.
The business
- Master franchisee for Moe's Casa Mexicana, Carvel and Moe's Southwest Grill in India.
- India is the first international market for Moe's Casa Mexicana.
- Carvel opened its first Indian outlet in Connaught Place in 2025.
The founders
What happens next
- Expand beyond NCR to other cities.
The numbers around it
Commerce & Consumer Brands in November 2026: 7 rounds with a disclosed amount, $119 million in all; the biggest was GIVA ($100M+). Every sector this year →
Terms in this story
- CCPS: CCPS (compulsorily convertible preference shares) and CCDs (compulsorily convertible debentures) are instruments that must turn into ordinary shares at a set time or event. Most Indian venture rounds use CCPS, because they carry investor rights such as a liquidation preference and, for foreign investors, count as equity under FEMA rules.
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