Mumbai-based full-stack ‘Cloud Kitchen’ platform, Kytchens has raised Rs 6.5 crores in equity through pre-series A round funding led by Anicut Capital in participation with a clutch of angel investors including Anand Ladsariya, Bharat Jaisinghani, and Neeraj Goenka.
“The funding will empower Kytchens to build a robust and agile team with the right skill sets and capabilities to accelerate its growth in the Indian market. Additionally, the startup plans to expand its footprints across Mumbai and nearby cities like Pune, and Nashik in Maharashtra and across tier 2 markets in South Gujarat,” the statement said.
Furthermore, Kytchens will allocate funds towards exemplifying their services as a strategic partner in enabling the growth of F&B brands with the strong managed cloud kitchen network consisting of strategically located Central and Delivery Kytchens to maximize reach.
Speaking on the funding round, Bansi Kotecha, Co-Founder of Kytchens said, “We began Kytchens to bridge this gap by creating a platform of managed infrastructure and services that empowers great F&B brands to scale with limited resources at an accelerated pace. We are humbled with the support from Anicut Capital and other angel investors at this juncture of our growth journey.”
“Anicut boasts a healthy portfolio of F&B startups and the angels backing us have built large brick and mortar enterprises and understand the complexity of building an operationally intensive business. The funds will help us build a strong foundation of what will be one of the largest food networks across India,” Kotecha further added.
Commenting on the investment in the Cloud Kitchen platform, Ashvin Chadha, Founding Partner of Anicut Capital said, “With cloud kitchens expected to be a $2 billion industry in India by 2024, Kytchens is uniquely placed in the Indian F&B landscape. Geographic expansion is a major challenge faced by popular standalone restaurants. The existing ecosystem partners solve the issue of delivery and real estate. With Kytchens’ “Operating System”, now these brands can achieve scale in a sustainable manner and at an accelerated pace. We are certain that the Kytchens will soon re-define the paradigms of Indian F&B and achieve heights in the market.”