Luxury Chocolate SMOOR Raises Funding Undisclosed Amount From Klub
- BySheetal Sidhu | July 13, 2021
Bengaluru-based luxury chocolate brand SMOOR has raised an undisclosed amount of capital from fintech platform Klub which provides revenue-based financing. According to SMOOR, the funds will be deployed to support its growth momentum as it looks forward to geographical growth and product expansion. The startup claimed the fund will act as a bridge for SMOOR until it raises Rs 50 crore by end of this year. While the brand launched its first store, named Signature, in Bengaluru in 2016, today it has stores across Bengaluru, Mumbai, and Gurugram. Its products are available across 50 cities via online channels such as Swiggy, Zomato, Dunzo, BigBasket, Amazon, and Flipkart among others.
Vimal Sharma, Founder-Director, and CEO of SMOOR said, “We are delighted to raise capital through Klub’s invite only patron investor network that will allow us to operate at a greater capacity during this period of hyper-growth. We are excited to see the future developments that unfold in this space, and ready to take on the explosive growth in demand with the most-loved, delicious, premium products.”
Anurakt Jain, CEO and Co-founder of Klub said about the investment, “We are delighted to offer growth capital through revenue based financing to a brand as fast-growing and ambitious as SMOOR. With its state-of-the-art production process and category-defining product portfolio, SMOOR is at a very interesting point in its growth trajectory. We look forward to seeing the brand achieve greater heights with this capital infusion.”
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