Funding

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.

The brand also launches first ever ready to drink Gin & Tonic range in India.

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,…

“10 new investors are joining us in our journey,” added his tweet whose list includes Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie…

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 startup claims that it is bridging the gap of supply and demand unaddressed by providing a variety of cooked meals for under Rs 50.

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