Online paan company Betel Leaf raises $1.2 million in bridge round led by IPV, Venture Catalysts

Betel Leaf, an FSSAI-certified online paan company, has raised $1.2 million in a bridge round led by Inflection Point Ventures (IPV) & Venture Catalysts, according to a press note on Thursday, May 16.

The Betel Leaf Co was founded in July 2019 by Prem Rheja and Payal Raheja. 

The company packs its paan in triple-layer pouches for clean and minimal hand touch, keeping hygiene in mind.

The funds raised will be utilised to expand the current retail and online presence from 45 kitchens to 100 kitchens in India and overseas within the next two years, while also enabling the development of new automation technology to enhance consistency and increase production volume and range, including innovative products like the ARID paan, a paan with nine months shelf life that can be carried anywhere to a Digestive Innovative Tea made from Pure Betel leaves, the company said.

“In a fast-paced & transforming India, finding authentic, hygienic, and convenient options for traditional Indian desserts like paan can be challenging. The Betel Leaf Co is addressing this problem head-on by delivering hygienic, fresh, and authentic paan with a variety of flavours right to our doorstep.IPV supports their insights to solving a very unique problem and trusts their commitment to quality”," said Ivy Chin, partner, IPV.

The current market size of the paan industry is estimated to be between Rs 3,000 to Rs 4,000 crore.