[Funding alert] Bengaluru-based startup WarmOven raises undisclosed investment from Jyoti Bansal
WarmOven is a startup which makes bakery products and desserts in Bengaluru and plans to go national with this funding.
Thursday June 11, 2020,
2 min Read
, a startup which delivers fresh cakes and desserts, and is run by Kouzina FoodTech, has raised an undisclosed funding from serial entrepreneur Jyoti Bansal.
According to a press release issued by the startup, the funding will primarily be used for geographic expansion, enter new categories, create hygienic kitchens, and invest in technology to create virtual restaurants.
WarmOven, which is currently present in Bengaluru, plans to expand across the country starting with Pune and Hyderabad.
On the funding, WarmOven co-founder and CEO Gautam Balijepalli said, “India has a scarcity of restaurant and bakery brands as compared to most other countries. As the industry goes through a cycle of disruption, powered by digitisation and delivery, there is a tremendous opportunity to scale up WarmOven as a national brand.”
Consumers can order fresh cakes and desserts from WarmOven through any of the online aggregators or the company's website. The company operates around 20 kitchens in Bengaluru.
Kouzina is a new-age restaurant company founded by Gautam Balijepalli, Mahesh Madiyala, Sumit Gupta, and Rohan Rao. It operates digitally-enabled, delivery-led food brands from a network of hyperlocal cloud kitchens.
On the investment into WarmOven, Jyoti Bansal said, “I am excited to be part of this journey to create national food brands across India. The team has a very nuanced understanding of the food services space and food delivery ecosystem. They have demonstrated exceptional success with WarmOven till date. I look forward to working with the team and helping them scale the business across the country and categories.”
Jyoti Bansal is a successful serial entrepreneur who sold his venture AppDynamics to Cisco for $3.7 billion in 2017. He also runs a venture capital fund based in US called Unusual Ventures. He is also the founder and CEO of technology startup Harness.
According to Gautam, the team at WarmOven will look forward to Jyoti’s guidance in scaling the business as his experience in building multiple successful businesses would be of immense value.
Edited by Javed Gaihlot