Cloud kitchen startup Bigspoon bags Rs 15 Cr in pre-Series A funding round
- ByStartupStory | August 9, 2022
Bigspoon, a cloud kitchen business, has secured INR 100 Cr (about $12.56 Mn) in a strategic investment round spearheaded by Indian Angel Network (IAN). Investment firms NB Ventures, Go-Ventures, LetsVenture, Grip Invest, Anicut Capital, as well as actress Mouni Roy also participated in the round. The cash will be used to grow the startup’s reach and add more than 250 kitchens across 80 locations in India, Southeast Asia, and the Middle East. It will also utilize the funds to increase recruitment for key leadership roles and to spend more on client technology.
Bigspoon will also utilize the cash to expand its top-tier brands and increase its backward integration to better leverage its supply chain. The expansion will mostly target Tier II cities, and the monies will be used to strengthen the meal delivery experience.’ Roy will join the firm as part of the arrangement and will be involved in brand incubation and sponsorships. “Our journey has been incredible, and we have serviced over 3 million clients so far.” We would consider investing across many verticals, increasing our reach, & adding brands in leading categories with the current inflow of capital. “Both new and old investors believe in our scaling strategy,” Bigspoon CEO & cofounder Kapil Mathrani stated.
Bigspoon, an Ahmedabad-based multi-brand omnichannel cloud kitchen firm founded in 2019 by Mathrani, Rohan Bhatt, and Poojan Thakkar, is primarily focused on Tier-II cities. The firm claims to be targeting underprivileged and untapped markets. It also provides services to other businesses through its Kitchen-as-a-Service (KaaS) concept, letting them use its facilities to deliver products. The business had previously secured $2 million from Grip Invest as a result of a lease financing agreement. Bigspoon presently claims to have 80 kitchens scattered over 16 states and over 35 cities.
Every month, the firm serves over 1.5 lakh consumers and contains several brands such as Makhni Brothers, Thali Central, and Meals101, among others. For its KaaS offering, it also collaborates with brands like The Brooklyn Creamery, Baskin-Robbins, and Smoodies. Bigspoon wants to treble its user base in the next years, according to its future goals. By the conclusion of the current fiscal year, the firm also intends to launch two additional brands and at least 150 new kitchens. It competes with industry titans like Zomato and Swiggy, as well as smaller competitors such as Rebel Foods, Curefoods, Food Darzee, and Box8.
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