The new entrant in the food startup funding race is Mumbai-based food technology startup, Holachef. The company has secured Rs 20 crore (about $3.1 million) in a Series A round of funding led by venture capital firm Kalaari Capital.
Holachef’s existing investor India Quotient also participated in this round of funding. The startup will use the funds to boost infrastructure and technology.
“The investments will help us in fuelling our infrastructural expansions that will enable better preparation and delivery of food. This will help us penetrate deeper into Mumbai as well as other cities in India,” Saurabh Saxena, founder-CEO, Holachef told Indiaretailing.
Launched in September 2014, the startup has seen a steep and steady growth. It delivers home cooked meals, with each meal being reasonably priced between Rs 120 and Rs 350.
“We started with five orders per day and currently serve over 1,000 orders in a day.We offer regional Indian cuisines to world food with equal options in veg and nonveg variants,” Saxena explained.
“Many of our customers prefer us as a daily food option instead of relying on restaurants and other take-aways because of quality and affordability,” he added.
Currently, the start-up is serving three types of meals – lunch, snacks and dinner. It offers select signature dishes and about 50 new choices everyday.
Hoachef had raised about Rs 2 crore from Anand Lunia-led seed-stage fund India Quotient in February this year in the form of convertible notes.
“Currently, we are servicing over 30 locations in Mumbai across Western and Central suburbs. We will be expanding to the whole of Mumbai in the next couple of months and also to some other cities in India,” Saxena informed.