[Funding alert] Cloud kitchen startup BigSpoon Foods raises $200K from Urmin Family Office, Lemonade Ventures, LetsVenture, others
Ahmedabad-based cloud kitchen startupannounced that it has raised an angel round of $200,000 from Urmin Family Office, Lemonade Ventures, LetsVenture and marquee angel investors.
The startup also told YourStory that it would be raising a larger $2 million in pre-Series A round in the next two to three months, for further expansion into new verticals and geographies.
“With the current funding, we would be expanding to new cities and brands, while investing in smart technology for efficient production, inventory management and consumer experience,” said the founders.
"Our focus, however, continues to remain on the food, and to enable offerings across all consumer use-cases, from single diners to groups, for all meal timings of the day, cutting through popular cuisines and dietary habits," they added.
Founded in 2019 by Kapil Mathrani, Rohan Bhatt, and Poojan Thakkar, BigSpoon Foods is a multi-brand cloud kitchen startup that has an omni-channel approach to ordering and delivery. Its pioneer brand, Makhni Brothers, focuses on North Indian cuisine, with an emphasis on balanced taste, hygiene and aesthetic, as well as functional packaging. The startup launched its second brand, Oven & Grill, in February this year, and specializes in American fast foods.
BigSpoon Foods has also ventured into corporate subscriptions and lunch packs.
The startup first raised a seed round in July 2019, after which it also received an undisclosed sum in a second seed round from a clutch of investors.
“Cloud Kitchens are an under-penetrated space, especially in Tier-II cities, and we at BigSpoon Foods are effectively filling that gap. Our vision is to minimise the delta between fine-dine and home-delivery experience for the customer, and hence the focus remains on packaging, logistics, health, taste and hygiene, while having multiple brands and cuisines for the diner to choose from,” added founders.
BigSpoon Foods considers the likes of Rebel Foods (which operates brands such as , OvenStory and Behrouz Biryani), Box8, Havmor and FreshMenu as its chief competitors. In February 2020, Rebel Foods secured an additional venture debt of Rs 35 crore led by debt funding firm Alteria Capital, bring the total debt funding raised by the startup to Rs 85 crore.
(Edited by Kanishk Singh)