Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium

South Indian food brand Sweet Karam Coffee (SKC) is set to raise Rs 30 crore ($3.31 million) in its Series A extension round from existing investors Peak XV Partners and Fireside Ventures.

The board at Sweet Karam Coffee has passed a resolution to approve the issue of 19,221 Series A1 compulsorily convertible preference shares (CCPS) at an issue price of Rs 15,609 per share to raise the above-mentioned sum, according to a filing with the Registrar of Companies (RoC).

Peak XV Partners will lead the round with an investment of Rs 20 crore, while Fireside Venture Investment will participate with Rs 10 crore, taking the total fundraise to Rs 30 crore in this tranche.

As per Entrackr’s estimates, the company’s valuation is expected to rise by 85% to Rs 580 crore (about $64 million) post-money, from Rs 313 crore (around $36.7 million) in its previous $8 million round. Since both participants are existing investors, the round could see additional capital coming in soon.

According to the filings, the proceeds from the round will be utilised towards the expansion of the company’s business operations, the filing added.

Founded in 2015, SKC offers authentic South Indian sweets, snacks, and filter coffee made without palm oil, preservatives, or maida, along with condiments, pickles, masalas, and ghee. The company sells via its website, e-commerce, and quick commerce platforms, and claims to serve customers across 32 countries.

In April 2025, the company raised $8 million in a Series round led by Peak XV Partners, with participation from existing investor Fireside Ventures. Following the allotment of the latest tranche, Peak XV Partners and Fireside Venture will hold 24.89% and 29.10% stake in Sweet Karam Coffee, respectively.

The company’s revenue from operations grew over 4X to Rs 46 crore in FY25 from Rs 11.26 crore in FY24, while losses also increased around 3.3X to Rs 24.78 crore from Rs 7.58 crore.