Aman Gupta’s SailThru invests in Unify Foodworks, the Indian operator of American brands Moe’s and Carvel

Unify Foodworks, the company that holds the India master franchise for American food brands Moe’s Casa Mexicana and Carvel, has raised Rs 5 crore in a seed round to expand both brands across the National Capital Region (NCR).

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The funding round was led by Atrium Ventures, boAt co-founder Aman Gupta’s SailThru Ventures, Arjun Vaidya and Abhishek Goyal, the New Delhi-based company said in a statement. It was raised through compulsorily convertible debentures (CCDs), which convert into equity at a later stage.

The company said the fresh capital will go towards adding stores in NCR, where both brands opened their first Indian outlets, and towards building store density and brand recall in the region. It aims to take the business to more than 100 stores across India.

Sumer Sethi, Founder and CEO of Unify Foodworks, said the investors were as valuable to the company as the capital.

“This round gives us the runway to build those foundations store by store, so every new opening is a proven model repeated, not an experiment. Just as valuable are backers who understand consumer brands and share our long view,” Sethi said.

“Our ambition is to make Unify Foodworks the go-to platform for international F&B brands entering India, scaling names that own their category without diluting what made them iconic,” he added.

Two American brands, one Indian operator

Both Moe’s and Carvel belong to Atlanta-based GoTo Foods, whose seven brands also include Cinnabon, Auntie Anne’s and Jamba. Unify said both brands are owned by Roark Capital, the private equity firm whose holdings also include Subway, Baskin-Robbins and Dunkin’.

Carvel came first. The ice cream brand, founded by Tom Carvel in New York in 1934 and widely credited with inventing soft serve, opened its first Indian store at Connaught Place in New Delhi in October 2025.

Ahead of that launch, Sethi had said Unify planned at least 15 Carvel outlets in Delhi-NCR and other major cities by March 2026, and expected revenue of Rs 5-6 crore for the financial year ending March 2026, according to PTI.

Moe’s Casa Mexicana, the international version of US fast-casual chain Moe’s Southwest Grill, followed two months later. Its first restaurant opened at Elan Miracle in Gurugram on 6 December 2025, with a second location planned at Ambience Mall in Vasant Kunj. Notably, India is the brand’s first international market.

“We are thrilled to bring Moe’s Casa Mexicana to New Delhi and make India our first international market,” Steven Yang, Senior Vice President for APAC at GoTo Foods, said at the time.

The Indian menu pairs burritos, bowls and tacos with local items such as Habanero Paneer. Unify also holds the master franchise for Moe’s Southwest Grill, the brand’s larger restaurant format.

GoTo Foods lists more than 600 Moe’s locations and more than 350 Carvel franchised and food service locations.

Moe’s opened a standalone outlet at Anupam Market in Saket in mid-September 2026, adding items such as a Crunchy Taco, Double Decker Taco and Protein Bowls. With that opening, Unify had eight outlets in India across the two brands, including three standalone Carvel stores and two co-branded outlets, according to reports.

The company said NCR will serve as its testing ground for store economics, menu localisation and operating processes before it takes the brands to other markets. Its model relies on an integrated supply chain, standardised processes and digital training for store staff.