Bigspoon raises Rs 100 cr from IAN, NB Ventures, others
Ahmedabad-based cloud kitchen startup Bigspoon on Tuesday said it has raised Rs 100 crore in a funding round led by IAN and NB Ventures. Go-Ventures, Lets Venture, Grip Invest and Anicut Capital also participated in the funding round.
Bollywood actor Mouni Roy has also invested in this round, the startup said in a statement. Creedcap Asia advised Bigspoon on the funding round. The company is planning to utilise the fund to expand to more than 250 kitchens in 75 cities across the country, add brands in top categories, hire for significant leadership positions, invest in technology for clients and backward integration for effective production and supply chain.
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With 80 kitchens spread throughout 16 states and over 35 cities, Bigspoon caters to over 1,50,000 diners every month. It houses 9 brands, including Mehfil Biryani by Zakir Khan, Makhni Brothers, Thali Central and Meals101, spanning various cuisines and menu options.
“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,” Bigspoon CEO and co-founder Kapil Mathrani said.
According to a report, India’s cloud kitchen market is projected to touch the USD 2.5 billion mark by 2028, annually growing at 17.5 per cent. The market is anticipated to grow on the grounds of the increasing inclination of the population toward online food delivery services, the statement added.
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