[Funding alert] Cloud kitchen startup Bigspoon raises Rs 15 Cr in pre-Series A round
, the Ahmedabad-based cloud kitchen startup, has raised Rs 15 crore in a pre-Series A round from NB VC (Dubai), CreedCap Asia, Zed Capital, and angel investors including Sanjiv Bajaj, Bhanu Chopra, and Jatin Aneja.
Bigspoon will use this funding for market expansion, reaching across 30 cities through 50 outlets by the end of this financial year. Besides, the startup will also use the funding for hiring and product development.
Founded in 2019 by Kapil Mathrani and Poojan Thakkar, Bigspoon is a multi-brand and omnichannel cloud kitchen business focused on Tier-II cities.
On the funding received, Kapil Mathrani, CEO and Co-founder, Bigspoon said, “Our mission is to democratise fresh-prep food across Tier-II and III markets of India from its cloud kitchen platform, and minimise the delta between fine-dine and delivered-food experience.”
According to the CEO, Bigspoon caters to over 50,000 diners every month. The startup has created a full-stack solution for cloud kitchens, with its own brands, Brand-as-a-Service and Kitchen-as-a-Service verticals.
Vishal Pereira, MD, CreedCap Asia said, “Our partnership with Bigspoon is led by our mutual belief in Bigspoon’s Tier-II/III thesis. India-II is a 300-city market, and highly under-penetrated, which they have successfully focussed on and cracked. Secondly, the virtual food-court is a future-looking concept, capturing all food-ordering use cases.”
According to Bigspoon, the foodtech market in India was valued at Rs 289.36 billion in 2019 and is expected to reach Rs 1,868.19 billion by 2025, expanding at a compound annual growth rate (CAGR) of over 39 percent during the 2021-2025 period.
Neelesh Bhatnagar, MD – NB VC, said, “We are excited to partner with Bigspoon, who are transforming the cloud kitchen landscape in Tier-II and III cities, with fresh-pier food and tech-led disruption in the F&B space. Our expertise in the Food-tech sector and their focus on a full-stack solution has great synergy.”