Haazri a Tea start-up has raised Rs 1.25 crore seed funding from Artha Venture Fund. Haazri serves tea, filter coffee and snacks in 5 Locations of Mumbai.
Currently Haazri is operating in Mumbai and the seed fund will be deployed to open Haazri outlets at 20 more locations in Mumbai. It is Founded by Dhruv Agarwal, Arjun Midha and Karan Shinghal in April 2016.
In a Joint Statement on Friday, the firm said that with these funds they will also recruit senior talent for business development, marketing and operations functions.
One of the Co-founder of Haazri, Mr. Dhruv Agarwal, said, “With Haazri we want to improve the standard of the street food culture in India. From Last six months, Artha has been there to build our brand into a one-stop solution for the coveted 10-minute break from office. As a mentor We have Anirudh Damani on board and We are thrilled to have him. In this journey to grow Haazri We consider Artha nothing less than a partner .”
Artha Venture Fund approved by SEBI is a Rs 200 crore category-1 alternative investment fund. It has a backup by Artha India Ventures and Singularity Ventures, who formerly served as chief investment strategist at Reliance Capital.
According to Artha Venture Fund’s Managing Partner Anirudh Damani, “Hygiene and standardization have become imperative for millennials. They need every product to offer these qualities at an affordable price. Haazri checks off all these boxes and their low capex setup cost will allow them to scale rapidly. Therefore, they are an ideal candidate to operate as a franchise model.”