Foodlink, a luxury catering company, on Thursday said it has raised USD 8 million (Rs 59.34 crore) in funding led by Plutus Wealth Management. The Series-B funding round also witnessed the participation of Arpit Khandelwal, Managing Partner, Plutus Wealth Management LLP, Foodlink said in a statement.
The Mumbai-based company will use these funds to expand its flagship business of luxury catering across newer geographies in India and overseas to take its luxury banquet brand called JADE Luxury Banquets to more cities. The funding will be used to scale their casual dining restaurant business through its brands, India Bistro, China Bistro & Art of Dum. The company has so far raised USD 23 million, including the current round. It received USD 15 million as part of its Series-A round from OAKS Asset Management in 2017.
“We are delighted to have Plutus on board and backing us for this next exciting phase of the Foodlink journey along with OAKS Asset Management, who has been a valuable partner over the last few years,” Sanjay Vazirani, founder of Foodlink said. “Weddings in India are a recession-proof business, and the increased focus on high quality, hygienic food and formally organised vendors will strengthen Foodlink immensely,” said Arpit Khandelwal, Managing Partner at Plutus Wealth Management.