FRESHMENU FUNDS
Cloud kitchen firms cut losses to cook up healthy numbers
India's cloud kitchen startups achieved revenue growth and reduced losses in FY24 by managing expenses. However, high inflation may impact margins this fiscal year. Rebel Foods, Curefoods, Biryani by Kilo, and Freshmenu showed significant improvements. Zomato and Swiggy's food delivery GOV also grew, with a positive industry outlook despite rising costs.
Breaking the glass ceiling: Trailblazing women leaders to share strategies to bridge gender funding gap at ET Soonicorns Summit 2024
Join Shreyasi Singh, Shally Modi, Shanti Mohan, Minu Margeret, and Rashmi Daga at the ‘Women in the Indian Startup Ecosystem: Breaking Barriers and Bridging the Gender Funding Gap’ panel, as they delve into fundraising techniques, navigating bias in the investor community, and the importance of resilience and strategic pivots. Only in Bengaluru on September 20, 2024.
Funding, M&As return as food industry recovers to pre-Covid levels
Ashish Kapur, promoter of premium bar chains Whisky Samba and The Wine Company, said the group has set aside a corpus of Rs 150-200 crore for acquiring a mix of upscale regional and international brands. “We are seeing that the matrix of consumption is evolving, and people are consuming more, and with higher ticket sizes.”
FreshMenu earmarks funds for expansion, scaling sub-brands
FreshMenu founder and chief executive Rashmi Daga said the platform will expand its cloud kitchen units as well as launch new private labels.
Zodius leads $19 million funding round in Onsitego
Accel India, an existing backer of Onsitego, has also participated in this latest financing round, with Accel US too joining the company’s cap table.
Biryani By Kilo raises Rs 30 cr in series-A round
Investors say building restaurant supply is a huge opportunity in India since the number as well as density of restaurants is limited compared to other economies.
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Oyo in talks to acquire FreshMenu for $60M
The move will help Oyo standardise its food experience across hotels, an initiative that has internally been in the works for more than a year, said one of the sources.
IndiQube plans to double office portfolio; wants to enter Mumbai, Pune, Chennai markets
Growing demand from large enterprises has made flexible office operators such as IndiQube, Wework, Cowrks, Awfis to add new locations to their portfolios.
FreshMenu opens talks with PEs to raise $75 million
FreshMenu, which counts Lightspeed Ventures and Zodius Capital as investors, is looking for a valuation of $250 million in the Series C round against a $50 million valuation in the Series B round in 2016.
Dinner for a cause: Bengaluru eateries to donate part of their revenue for Kerala flood victims
The city’s F&B industry is celebrating a conscious Onam.
Qtrove gets Rs 350 crore from BCCL’s Springboard
Qtrove will be using the funds to further intensify their marketing, customer acquisition efforts and vendor network through BCCL’s stable of print, television, radio and digital media.
India's online food aggregators are taking lessons from China
As food-delivery startups try every trick in the book to increase the number of orders, the strategy that has emerged front and centre for them is the cloudkitchen model.
Foodtech startups revert to an old recipe for success: Earn, then spend
Orders have crossed 4,50,000 a day for food delivery startups and they’ve tightened their belts— they’re now looking forward to a feast after the funding famine of the past few years.
Why it takes time to get food delivery just right
After a funding rush in 2015, the food tech sector slowed and a number of players fell by the wayside. Among the few that survived and flourished was Bengaluru-based Freshmenu, founded by Rashmi Daga in 2014.
Flush with funds, Flipkart, Paytm and Amazon rush to enter food delivery business
All these Internet giants have held talks with the food-delivery segment leaders Zomato and Swiggy besides cloud kitchen players like Freshmenu for investments.
Indian tech startups get a space in Google's Sand Hill
Google is deepening its engagements with startups here to find a potential high-growth winner.
Investors add Rs 41 crore to Faasos' funding plate
Faasos, which runs on a cloud-kitchen model offering four in-house brands on its platform, pivoted from a multi-brand marketplace model in 2015.
Startups offer credit lines for cab rides, movie shows
These young companies are set to face stiff competition from larger, deep-pocketed fin-tech companies seeking to enter the market.
Foodtech startup by former Papa John's CEO, Freshmenu chef gets $500K
The fund raise from UAE’s Al Dhaheri family comes about six month after 48East raised $250,000 in a round of angel funding from Agra-based ACPL exports in August last year.
FreshMenu to whip up 2 brands for wider spread
We are definitely contemplating a separate brand altogether for pizzas, said Rashmi Daga, Founder of FreshMenu.
Logistics management platform Locus raises $2.75 million in Series A funding
The funding, which was led by Exfinity Venture Partners, will be used to strengthen its technology offerings and expand the team.
If you want something done, cook it yourself
A tweak in the business model seems to be the new survival-and-differentiation mantra for some food-delivery startups, who are moving away from the plain vanilla restaurant aggregation and delivery model.
FreshMenu raises Rs 110 crore in new round of funding
The deal values the startup at around Rs 300 crore ($45 million) according to two people with knowledge of the development.
Focus on unit economics before going for scale: K Ganesh
When we started Freshmenu there was lot of pressure on looking at companies that were getting funding and scaling by focusing on the mass market segment.
Funding slowdown takes a toll on food-tech startups like Eatlo, FreshMenu, Frsh
Eatlo, FreshMenu and Frsh do not have money to sustain operations beyond a few months as they are unable to raise fresh rounds of funding.
Food tech companies like FreshMenu and Box8 ramp up apps for growth
Food-technology companies FreshMenu and Box8 are focusing heavily on mobile-apps to increase sales and customer experience.
LocalOye raises Rs 31 crore from Lightspeed Venture Partners, Tiger Global Management
LocalOye, which lists local and home services across Mumbai, has raised its first round of venture capital funding from Lightspeed Venture Partners and Tiger Global Management.
Innovative food delivery startups like FreshMenu, iTiffin cash in on demand
As opposed to a brick-and-mortar restaurant, an "internet-only restaurant" like FreshMenu eliminates massive costs such as real estate, service and air-conditioning.
FreshMenu close to raising Rs 31 crore from Lightspeed Venture
The funding will mark a continuing run of success for Bengaluru-based family office that has helped portfolio companies successfully raise follow-on funding.
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