Kytchens raises funding of Rs 6.5 crore equity from Anicut Capital and other marquee investors
- ByStartupStory | June 17, 2022
Kytchens, a full-stack “Kitchen as a Service” platform, has announced the pre-series A fundraising of 6.5 crores in equity. Anicut led the round, which was backed by a group of angel investors that have previously invested in and backed hundreds of great start-ups in their early phases and assisted them in scaling. The fundraising round included notable Angels such as Anand Ladsariya, Bharat Jaisinghani, and Neeraj Goenka, among others.
Kytchens will use the funds to establish a strong and agile workforce with the necessary skill sets and skills to drive its expansion in India. In addition, the cloud kitchen service provider plans to extend its reach in Maharashtra, including Mumbai and adjacent cities such as Pune and Nashik, as well as tier 2 markets in South Gujarat.
Furthermore, Kytchens will devote resources to demonstrating their capabilities as a strategic partner in facilitating the growth of F&B businesses through a powerful managed cloud kitchen network comprised of strategically positioned Central and Delivery Kytchens. Nachiket Shetye and Bansi Kotecha launched Kytchens in the middle of the first lockdown.
Bansi Kotecha, Co-Founder of Kytchens said that India as a market is predominantly fragmented and undersupplied in the F&B area. Locally successful companies are unable to grow to fulfil client demand outside of their own area. Simply said, there aren’t enough fast-food franchises in India that consistently serve high-quality meals that can be consumed at home or at work.
Ashvin Chadha, Founding Partner of Anicut Capital stated that Kytchens is well positioned in the Indian F&B sector, with cloud kitchens estimated to be a $2 billion business by 2024. Popular solo restaurants confront a significant geographic growth barrier. The delivery and real estate issues are solved by current ecosystem partners. These companies may now attain growth in a sustainable and expedited manner thanks to Kytchens’ Operating System. We are certain that the Kytchens will soon re-define Indian F&B paradigms and reach new heights in the industry.
Follow Startup Story
Related Posts
