The start-up Bhookha Haathi Hospitality Private Ltd plans to raise up to $2 million to cover investments and market expansion plans, a top executive said.
“Having recently raised some capital, we are now in talks with investors for a second and third round of financing. The funds will be used for capital expenditures for production and for market expansion and new product launches,” said Abhimanyu Rishi, co-founder and CEO.
“We would like to expand our presence in another 16 to 19 cities apart from launching our products in Mumbai and UP,” he said
The Company manufactures and distributes a dried fruit and nut freshener marketed as a replacement for gutkha, pan masala and other mouth fresheners that are either harmful and/or full of additives, preservatives and added sugars.
“The product, priced at £2 per 2g pack, helps solve the tobacco chewing problem. By 2050, we plan to reduce tobacco use by more than 50%,” he said.
The company has also released decaffeinated chickpea filter coffee, which helps improve digestion and nervous system functions, regulates blood pressure and diabetes, he said.