In a recent development, Ninecamp Ventures, a startup founded by former Zomato executive Chaitanya Mathur, has successfully raised $2 million (approximately INR 16.7 crore) in its seed funding round. This funding initiative garnered participation from notable investors including Zomato cofounders Mohit Gupta and Gaurav Gupta, Honasa cofounders Ghazal and Varun Alagh, as well as several others like Cars24 cofounders Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, Gajendra Jangid, and PharmEasy cofounder Dharmil Sheth.
Established in October of the previous year, Ninecamp positions itself as a next-generation food and beverage startup with a primary focus on premium dining experiences and consumer products. Chaitanya Mathur, founder and CEO of Ninecamp, brings over 17 years of industry expertise, having played a pivotal role in Zomato’s live business through initiatives like creating Zomaland.
The freshly secured capital will be utilized by Ninecamp to expand its brand portfolio and augment its team size. The startup aims to introduce a new wave of premium dining experiences that adhere to global standards in terms of product quality, service excellence, innovative design, and superior ingredients. In April this year, Ninecamp inaugurated its debut restaurant, Marièta, in Gurugram, marking its initial foray into the premium dining segment.
Mathur expressed optimism about Ninecamp’s potential impact on India’s food and beverage sector, emphasizing their commitment to introducing innovative products that resonate with discerning consumers across dining and broader market segments. The startup plans to diversify its offerings beyond premium dining, exploring opportunities in quick-service restaurants, casual dining outlets, and potentially delivery-only brands.
Looking ahead, Ninecamp is also eyeing entry into the fast-moving consumer goods (FMCG) market, aiming to leverage its expertise and market insights to capitalize on emerging consumer trends. This strategic expansion aligns with projections indicating a robust 27% compound annual growth rate (CAGR) for India’s food and beverage industry through 2030, underscoring significant opportunities for both established players and newcomers in the market.
The launch of Ninecamp comes amidst a trend where senior executives from top Indian startups are increasingly venturing into entrepreneurship. Earlier this year, former Times Internet CEO Gautam Sinha launched SimpleO.ai, an AI startup, while former Swiggy executive Karthik Gurumurthy also embarked on a new startup endeavor, reflecting a dynamic shift in India’s startup ecosystem.