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Cloud kitchen startup Bigspoon raises Rs 100 crore from IAN, NB Ventures

Moneycontrol logo Moneycontrol 09-08-2022 Moneycontrol News
Cloud kitchen startup Bigspoon raises Rs 100 crore from IAN, NB Ventures © Moneycontrol Cloud kitchen startup Bigspoon raises Rs 100 crore from IAN, NB Ventures

Cloud kitchen startup Bigspoon has raised Rs 100 crore in a funding round from IAN, along with NB Ventures, Go-Ventures, Lets Venture, Grip Invest, and Anicut Capital, the company said on August 9.

Bollywood actor and investor Mouni Roy, who also participated in the round, would be associated with brand incubation and endorsements, it said.

“Our journey has been phenomenal, and till now, we have served over 3 million customers. With the current infusion of funds, we would look at investing across various verticals, expanding our footprint, and adding brands in leading categories. Our incoming and existing investors have faith in our strategy to scale,” founder and CEO Kapil Mathrani said.

Bigspoon aims to expand to more than 250 kitchens in 75 cities across the country. It will also used the funds to hire for leadership positions, invest in technology for clients, and backward integration for effective production and supply chain.

Founded in 2019 by Mathrani and Poojan Thakkar, Bigspoon is a multi-brand, omnichannel cloud- kitchen company with focus on smaller cities.

The Ahmedabad-based company said it also introduced innovation in food manufacturing, menu selection, and packaging, using fresh food as ingredients rather than frozen ones.

With 80 kitchens spread in 16 states and more than 35 cities, Bigspoon caters to more than 1,50,000 diners a month, it said.

According to Bigspoon, it houses nine brands, including Mehfil Biryani by Zakir Khan, Makhni Brothers, Thali Central, and Meals101, covering various cuisines and menu options.

“The concept of cloud kitchen in India is still nascent and Bigspoon, with its expertise, possesses the right knowledge to revolutionise the sector.

“It will be filling the gap in the underpenetrated Tier-2 and 3 markets which are still underserved. The funds will serve as a catalyst to boost Bigspoon’s aim to expand its network across India,” said Sanjiv Bajaj, IAN Lead Investor.

Cloud kitchens prepare food for delivery and don’t have a dine-in facility or walk-in customers.

The startup said by the end of this fiscal, it plans to introduce two new brands and at least 150 new kitchens.

“Good food brings me so much joy. I'm thrilled to be investing in Big Spoon so I can now be a part of spreading that joy to millions of people across the country. Being raised in a small town myself, I especially love that Big Spoon caters to Tier 2 and 3 cities,” Roy said.

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