Adonia Hospitality raises $1M seed round
Foodtech Adonia Hospitality recently raised $1 million in seed funding from Pepperfry founders Ambareesh Murthy and Ashish Shah. The company plans to use the capital raised to set up six new restaurants over the course of the next six months.
“We aim to operate a network of 200 restaurants by 2025 with a revenue estimate of INR 135 crores annually which excludes packaged food and tech-based smart subscription model. We are extremely confident about our plans and this funding is a reinforcement of our belief as well as a start to a meaningful and long entrepreneurial journey,” shared Adonia Hospitality CEO and co-founder Rupesh Kumar Shah.
Commenting on the investment, Pepperfry co-founders Ambareesh Murty and Ashish Shah stated, “Rupesh has built a great product and tech to bring in Authentic Italian Cuisine to discerning neighbourhoods in Mumbai. We are very excited to back him as he pursues his ambition to bring this concept to the neighbourhoods in all key markets in the country, built on great product and cutting-edge technology.”
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