Mumbai-based dosa chain Benne has raised Rs 35 crore in a pre-Series A round led by Ranjan Pai’s family office, Claypond Capital, which put in Rs 28.75 crore of the total. AL Trusts contributed Rs 3.5 crore, Mukul Agrawal invested Rs 1.75 crore, and smaller cheques of Rs 75 lakh and Rs 25 lakh came in from Madhukeshwar Desai and Cortado Advisory Services respectively. That values Benne at roughly Rs 364 crore on a post-money basis, a striking number for a chain that operates out of a handful of outlets and is not yet two years old. The tiny Bandra outlet started pulling queues, helped along by Iyer and Narayan documenting the process on social media, including the setbacks, long before the cafe opened. Bengaluru’s Rameshwaram Cafe, which turned a single outlet into a chain fielding thousands of franchise enquiries a year, expanded into Mumbai earlier this year and now competes directly with Benne on its own turf.