Bigspoon, an Ahmedabad, Gujrat based Food and beverage delivery startup, has raised US$ 2 million (INR 15 Cr) in Pre-series A funding round held on August 18 2021. The financing round was driven by Dubai-based NB VC, CreedCap Asia, Zed Capital, and angel investors, including Sanjiv Bajaj, Bhanu Chopra, and Jatin Aneja.
Fund Utilisation
The 2019-founded Bigspoon will use the latest funds for market expansion with the aim of reaching across 30 cities through 50 outlets by the end of the financial year. Additionally, the startup will use the funding for hiring and product development.
According to Bigspoon, the food tech market in India was valued at US$ 3.9 billion in 2019 and is expected to reach US$ 25 billion by 2025, expanding at a compound annual growth rate (CAGR) of over 39% during the 2021-2025 period.
The startup claims to cater to nearly 50,000 diners every month and has generated a full-stack solution for cloud kitchens, with its own brands, Brand-as-a-Service and Kitchen-as-a-Service verticals.
What the CEO has to say
CEO and Co-founder of Bigspoon, Kapil Mathrani, said, “Our mission is to democratise fresh-prep food across Tier-II and III markets of India from its cloud kitchen platform, and minimise the delta between fine-dine and delivered-food experience.”
What the Investors have to say
MD of CreedCap Asia, Vishal Pereira, said, “Our mutual belief leads to our partnership with Bigspoon in Bigspoon’s Tier-II/III thesis. India-II is a 300-city market and highly under-penetrated, which they have successfully focussed on and cracked. Secondly, the virtual food-court is a future-looking concept, capturing all food-ordering use cases.”
MD – NB VC, Neelesh Bhatnagar, said, “We are excited to partner with Bigspoon, who are transforming the cloud kitchen landscape in Tier-II and III cities, with fresh-pier food and tech-led disruption in the F&B space. Our expertise in the Food-tech sector and their focus on a full-stack solution has great synergy.”
About Bigspoon
Founded in 2019 by Kapil Mathrani and Poojan Thakkar, Bigspoon is an omnichannel multi-brand Cloud kitchen startup, operational since September 2019 and headquartered in Ahmedabad. It is chiefly centred on tier-2 markets, with a vision to minimise the delta between fine-dine and home-delivery experience for the customer and make great food accessible to all. Currently, it is operating with six live brands under the Bigspoon umbrella – Makhni Brothers (Authentic North Indian Cuisine), Meals101 (Chinese and Global Meals-for-one), Oven & Grill (American Fast-food) and our latest offering, Thali Central (Thali meals ), The Wrap Co. (Roomali Wraps Brand) and The Monkey Fries (Fries brand) and have a presence in 10 cities across Gujarat, MP, Maharashtra, Telengana, UP and Rajasthan. For more information, visit http://www.bigspoon.io/.
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