Kytchens raises funds of 6.5 Crore Equity from Anicut Capital and other marquee investors
Mumbai : Kytchens, a full-stack “Kitchen as a Service” platform, today announced the funding of 6.5 Crores in equity through pre series A funding. The round was led by Anicut, supported by a bunch of angel investors who have previously invested and backed 100s of successful start-ups in the early stages and helped them scale. Notable Angels like Anand Ladsariya, Bharat Jaisinghani, and Neeraj Goenka participated in the funding round, among others.
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 cloud kitchen service provider will aim towards expanding its footprints across Mumbai and nearby cities like Pune, and Nashik in Maharashtra and across tier 2 markets in South Gujarat. 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.
On the announcement, Bansi Kotecha, CoFounder, Kytchens said, “India as a market is primarily fragmented and undersupplied in the F&B space. High performing local brands are unable to scale to meet customer demand beyond their neighbourhood. Simply put there are not enough F&B chains in India that provide consistent high-quality food that can be eaten in the comfort of your home or office. 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.”
“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”, said Ashvin Chadha, Founding Partner, Anicut Capital.
Kytchens was launched by Nachiket Shetye and Bansi Kotecha in the middle of the first lockdown when things were shutting down. The first kitchen initiated its operations in Aug 2020 with 2 partner brands and now the full stack service provider has expanded to 6 locations with 25+ brands. Their portfolio consists of notable brands like Thambbi, Marrakesh, Wraps and Rolls, WoodSide BurgerShop, East Pan Asian, Tru Falafel, La Folie, Huber & Holly etc.