The funding round was led by IAN, with participation from NB Ventures, Go-Ventures, LetsVenture, Grip Invest, Anicut Capital, and actor Mouni Roy
The startup will use the funding to expand its footprint and add more than 250 kitchens across 80 cities in India, South-East Asia and the Middle East
Bigspoon plans to introduce two new brands and at least 150 new kitchens by the end of the current fiscal year.
Cloud kitchen startup Bigspoon has raised INR 100 Cr (around $12.56 Mn) in a strategic funding round led by Indian Angel Network (IAN).
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The round also saw participation from institutional investors NB Ventures, Go-Ventures, LetsVenture, Grip Invest, Anicut Capital, and actor Mouni Roy.
The startup will use the funding to expand its footprint and add more than 250 kitchens across 80 cities in India, South-East Asia and the Middle East. It will also use the capital to ramp up hiring for key leadership positions and to invest more in technology for clients.
Bigspoon will also use the funds to add more brands in its top categories and strengthen its backward integration to effectively leverage its supply chain. Largely, the expansion will be aimed at Tier-II cities and the funds will be targeted at ‘strengthening the food delivery experience.
As part of the deal, Roy will join the startup and will be associated with brand incubation and endorsements.
“Our journey has been phenomenal, and till now, we have served over 3 Mn 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 cofounder Kapil Mathrani said.