​Faasos raises Rs.41.44 crore funds from existing investors

On-demand food delivery platform Faasos Food Services has raised Rs 41.44 crore in an extension of its previous funding round from existing investors, as per filings made with the Registrar of Companies (RoC).

The investors include Ligthbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, RuNet South Asia and RB Investments. 

Besides its classic brand, Faasos retails multiple in-house food brands such as Behrouz Biryani and Oven Story Pizza on its app and other food-ordering platforms including Swiggy and recently-launched on-demand food and services app Areo by Google. 

The company is also reportedly in talks with the soon-to-be launched UberEATS, according to sources working closely on restaurant tie-ups.

Tie-ups with other platforms usually costs restaurant partners like Faasos between 15% and 25% margins to be paid to the portal which brings in the orders, said experts tracking the sector.

Apart from other quick service restaurant (QSR) chains such as pizza delivery chain Domino's, Faasos also competes with on-demand food portals such as FreshMenu and Box8.