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Sunday, July 14, 2024

Bigspoon to add more cloud kitchens in SEA & Middle East with Rs100cr funding

Cloud kitchen startup Bigspoon has secured Rs. 100 crore in a round of strategic fundraising. The company will use the money to expand its presence and to add more than 250 kitchens across 80 cities in India, South-East Asia and the Middle East

Ahmedabad-based multi-brand omnichannel cloud kitchen startup, Bigspoon, has secured around $12.56 Mn (INR 100 Cr) in a round of strategic fundraising that was headed by Indian Angel Network (IAN).

Institutional investors NB Ventures, Go-Ventures, LetsVenture, Grip Invest, Anicut Capital, and actor Mouni Roy also took part in the round.

The business will use the money to spread out over 80 locations in India, South-East Asia, and the Middle East, adding more than 250 kitchens. The funding will also be used to increase hiring for important leadership positions and to increase investments in client technology.

Along with strengthening its backward integration and adding new brands to its key categories, Bigspoon will use the investment to further leverage its supply chain.

The cash will be used to “strengthen the meal delivery experience,” with the majority of the growth directed towards Tier-II cities. Roy will join the startup as part of the agreement and will be involved in brand incubation and sponsorships.

“Our journey has been incredible, and we have now helped over 3 million clients. With the present inflow of cash, we would consider making investments across numerous industries, growing our presence, and adding brands in top categories. Both new and current investors are confident in our plan to grow, according to Bigspoon CEO and cofounder Kapil Mathrani.

Bigspoon was founded in 2019 by Mathrani, Rohan Bhatt, and Poojan Thakkar. It primarily focuses on Tier-II cities. The firm asserts that it focuses on underserved and undertapped markets.

Through its Kitchen-as-a-Service (KaaS) concept, it also provides services to other businesses, enabling them to use its infrastructure for product delivery.

The business had most recently obtained $2 million in leasing financing from Grip Invest. Bigspoon asserts that it currently operates 80 kitchens in more than 35 cities and 16 states.

Every month, the firm serves more than 1.5 lakh people and is home to several brands, including Makhni Brothers, Thali Central, and Meals101. For its KaaS offering, it also collaborates with companies including The Brooklyn Creamery, Baskin-Robbins, and Smoodies.

Bigspoon stated that it hopes to triple its user base in the upcoming years when discussing its future plans. By the conclusion of the current fiscal year, the business also intends to roll out two more brands and at least 150 new kitchens.

It’s rivals include  industry heavyweights like Zomato and Swiggy as well as Rebel Foods, Food Darzee, Curefoods, and Box8.

Startups in the cloud kitchen industry have been very active lately. Actress Nora Fatehi made an undisclosed investment in cloud kitchen startup Curefoods last month. Curefoods secured a $50 Mn Series C fundraising round from a number of investors in June of this year. Another cloud kitchen startup, FreshMenu, reportedly raised $6.5 Mn from Florintree Advisors in April.

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