Benne raises Rs 35 crore in pre-Series A round led by Ranjan Pai’s Claypond Capital

Khushi Bhatia

| August 7 | Business Stories, Funding Feed

Benne, Claypond Capital, Ranjan Pai, Benne funding, pre-Series A funding, QSR startup, dosa chain, Bengaluru-style dosa, food startup, restaurant startup, Akhil Iyer, Shriya Narayan, Indian startup funding

Bengaluru-style dosa quick-service restaurant chain Benne has raised Rs 35 crore, or around $3.7 million, in a pre-Series A funding round led by Ranjan Pai’s family office, Claypond Capital.

Claypond Capital emerged as the biggest contributor to the round with an investment of Rs 28.75 crore. AL Trust invested Rs 3.5 crore, while investor Mukul Agrawal contributed Rs 1.75 crore. Madhukeshwar Desai also participated with an investment of Rs 75 lakh.

The funding gives Benne fresh capital as the restaurant brand looks to strengthen its operations and pursue its growth plans. The round values the company at approximately Rs 364 crore, or $38.3 million, on a post-money basis.

Claypond becomes Benne’s largest external investor

Following the allotment, Claypond Capital Partners has become Benne’s largest external investor, giving Ranjan Pai’s family office a significant position in the growing food-service company.

The investment marks an important capital infusion for Benne as it builds its presence around a focused South Indian QSR format rather than a broad restaurant menu.

A focused bet on Bengaluru-style dosas

Benne was founded by husband-and-wife duo Akhil Iyer and Shriya Narayan. The quick-service restaurant business is centred on authentic Bengaluru-style dosas, with a limited menu and compact outlet format forming part of its operating model. The company generates revenue through its restaurant operations and food delivery.

The focused proposition places Benne in a segment that already includes names such as The Rameshwaram Cafe and Cafe Amudham, alongside other premium South Indian QSR brands.

Unlike restaurant businesses built around extensive menus, Benne’s proposition centres on a narrower product category and Bengaluru-style dosa experience. The Rs 35 crore funding gives the company additional financial headroom to support this model as it moves into its next phase of growth.

For Claypond Capital, the Rs 28.75 crore investment accounts for the bulk of the latest round, while the participation of multiple individual and institutional investors broadens Benne’s external shareholder base.

With fresh funding secured and Claypond Capital now its largest external investor, Benne’s next phase will centre on deploying the capital into business operations and its stated growth plans.

Also Read: iPhone 18 Pro Max launch leaks gather pace