Funding

In addition to their Low-Carb products and cloud kitchens, Lo! Foods has also tied up with five-star chains like Hyatt and Sheraton to offer Low carb…

The company will also use the funds to scale up its production and launch innovative new products.

The fundraising comes at a time when its major competitor Zomato is preparing for a $650-million IPO this month.

They have already entered Ahmedabad with a cloud kitchen model.

is planning to focus on sustainable growth across its fastest-growing cities such as Mumbai, Chennai, and Pune in the coming year.

With this new funding in place, Rage Coffee is on track to expand distribution through approximately 3,000 outlets nationwide.

The new infusion of funds is expected to provide a working capital boost to help the brands expand to new states like Rajasthan, Haryana, Assam,…

The company said it will use the funds primarily for ‘general corporate purposes’ such as working capital and operating expenses.

It is presently operational in nine Indian cities including; Mumbai, Thane, Navi Mumbai, Pune, Jammu, Aurangabad, Hyderabad, Vishakhapatnam and…

The investment has come at a time when Zomato said its sales volumes have touched pre-Covid-19 levels.

The momo chain has so far received INR 40 Cr in debt from the Grand Anicut Fund – 2.

In July, it reported that its FY20 India Food Delivery GMV grew by 108% over FY19.

The cloud kitchen market is expected to grow to a $6bn industry by 2025.

The company counts Swiggy, Zomato, Subway, Farzi Cafe & others as its esteemed clients.

According to a report, the Indian food service delivery market is expected to more than double to $13 billion (Rs 93,600 crore) by fiscal 2023.