Salad Days raises Rs 30 Cr in maiden institutional funding round
Salad Days plans to use the capital to expand across more pincodes in existing cities, acquire talent, and enhance its tech offerings.
Cloud kitchen brand Salad Days has raised Rs 30 crore in its Series A funding round to support its expansion plans.
The round, which marked the company's first institutional fundraise in its over a decade-long run, was co-led by V3 Ventures and Client Associates Alternates Fund (CAAF).
It currently operates 25 kitchens across Delhi, Mumbai, and Bengaluru. A part of the capital infusion would look at growing its penetration in existing cities across pincodes as well as innovations with an omnichannel presence adding about 20 stores by the end of this year.
The Gurugram-based company also plans to use the funds to spruce up its tech infrastructure, upskilling and expanding its team as well as marketing and branding efforts.
"So, we would want to enhance our tech for better customer experience, which means launching our own platform shortly to offer new services like subscriptions. Our repeat ratios are high; a lot of our customers order very regularly from us and we also keep getting queries about subscriptions on a regular basis. It makes all the sense to launch such much-needed offerings and more for customer delight," said Varun Madan, Founder and CEO, Salad Days.
Founded in 2014, Salad Days competes with cloud kitchens like Salad Studio, FreshMenu, and WeFit, among others. It currently operates at an ARR of Rs 60 crore at a PAT profitable level.
"Salad Days is among our first few investments at CAAF, and it truly represents what we look for in an ideal investment—a customer-obsessed, mission-driven founder who has been able to create a category-defining brand, profitable, sustainable execution, and strong, scalable unit economics. All of this is in a consumer category which we think will only go from strength to strength with time," noted Shivam Diwan, Executive Director and Head of CAAF.
Edited by Kanishk Singh