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Aman Gupta's SailThru invests in Unify Foodworks, the Indian operator of American brands Moe's and Carvel

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Aman Gupta's SailThru invests in Unify Foodworks, the Indian operator of American brands Moe's and Carvel

Unify Foodworks, the company that holds the India master franchise for American food brands Moe's Casa Mexicana and Carvel, has raised Rs 5 crore in a seed round to expand both brands across the National Capital Region (NCR).

The funding round was led by Atrium Ventures, boAt co-founder Aman Gupta's SailThru Ventures, Arjun Vaidya and Abhishek Goyal, the New Delhi-based company said in a statement. It was raised through compulsorily convertible debentures (CCDs), which convert into equity at a later stage.

The company said the fresh capital will go towards adding stores in NCR, where both brands opened their first Indian outlets, and towards building store density and brand recall in the region. It aims to take the business to more than 100 stores across India.

Sumer Sethi, Founder and CEO of Unify Foodworks, said the investors were as valuable to the company as the capital.

"This round gives us the runway to build those foundations store by store, so every new opening is a proven model repeated, not an experiment. Just as valuable are backers who understand consumer brands and share our long view," Sethi said.

"Our ambition is to make Unify Foodworks the go-to platform for international F&B brands entering India, scaling names that own their category without diluting what made them iconic," he added.

Both Moe's and Carvel belong to Atlanta-based GoTo Foods, whose seven brands also include Cinnabon, Auntie Anne's and Jamba. Unify said both brands are owned by Roark Capital, the private equity firm whose holdings also include Subway, Baskin-Robbins and Dunkin'.


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