Cloud kitchen startup Hoi Foods raised $2 million in Pre-Series A led by 1Crowd and from Sprout, Angelist, Samar Singla, founder of Jugnu, VCCircle chief executive officer (CEO) Jaideep Mehta, Mukund Kulashekaran of Urban Company, among others
Will use the funds to enhance the existing network of cloud kitchens and plans to catapult itself into the big league of the cloud kitchen ecosystem. The company will focus on expanding its cloud kitchen network across India, enhance its tech platform and strengthen supply chain.
Hoi Foods has more than 150 cloud-kitchens serving 5,000+ meals a day across Delhi/NCR & Bengaluru and now plans to expand to Hyderabad, Mumbai & Pune.
"We are building a very strong play in the cloud kitchens ecosystem and have been able to put together a decently large network in a very short duration. We feel honoured and excited to receive the confidence of all investors. I am also very confident and motivated to build our organisation much bigger and better with this," said Kumar, co-founder, Hoi Foods.
The business of cloud kitchens has been impacted by the lockdown and Hoi is no different. "We had close to 150 kitchens pre-covid but about 50 or so are operational today. Labour, logistics, lockdown, low demand are the reasons for closure of other outlets," adds Rajkumar.