IAN, NB Ventures, Go-Ventures, Lets Venture, Grip Invest, Anicut Capital and Bollywood actress Mouni Roy participated in the funding round
Cloud kitchen start-up Bigspoon raised Rs 100 crore in a funding round led by IAN and NB Ventures. Go-Ventures, Lets Venture, Grip Invest, Anicut Capital and Bollywood actor Mouni Roy also participated in the funding round. Creedcap Asia advised Bigspoon on the financing round.
PTI reported that the Ahmedabad-based company plans to utilise the capital to expand to over 250 kitchens in 75 cities across the country. The company also plans to expand its base to South East Asia and the Middle East.
"The team at Bigspoon have grown at a breakneck pace, geographically and in traction. We will also use the BigSpoon network to launch a few brands, which are doing well in Dubai, and facilitate bringing BigSpoon to Dubai and Middle East markets," said Neelesh Bhatnagar, Managing Director at NB Ventures.
With 80 kitchens spread throughout 16 states and over 35 cities, Bigspoon caters to over 1,50,000 diners every month. It has nine brands, including Mehfil Biryani by Zakir Khan, Makhni Brothers, Thali Central and Meals101.
The start-up will augment its portfolio with the addition of new brands and strengthen its leadership by hiring professionals in key management positions. It will invest in client technology and backward integration for effective production and supply chain.
Sanjiv Bajaj, Lead Investor at IAN said, "The funds will serve as a catalyst to boost Bigspoon's aim to expand its network across India. The company has shown explosive growth since inception, and we feel these funds will help them achieve the next level."
"Till now, we have served over three million customers. With the current infusion of funds, we would look at investing across various verticals, expanding our footprint and adding brands in leading categories. Our incoming and existing investors have faith in our strategy to scale," said Kapil Mathrani, CEO and co-founder of BigSpoon.
Mathrani and Poojan Thakkar founded BigSpoon in 2019 as a multi-brand, omnichannel cloud kitchen . It aimed to set up its footprint across tier two and three cities where food delivery is still largely unexplored as a business concept.