TTSF Cloud One, an internet-first multi-brand cloud kitchen, said it has raised $5.3 million (around Rs 40 crore) in a seed funding round led by Brand Capital, the investment arm of Bennett Coleman & Co Ltd.
The company said it plans to plans to extend its reach to scale up tech infrastructure & brand building, It will focus on the usage of technology, creation of its brands as well as brand acquisitions, and expanding its footprint across tier 1 and tier 2 cities in India.
“The Indian food tech space is at the cusp of disruption right now with largely unorganized brands operating in the market. We are now aiming to create, license, acquire & operate several brands using our technology stack which will enable our eco-system brands to rapidly scale like never before & consolidate some categories. We believe with economies of scale, it is very much possible to build an extremely interesting play within a short period,” Yeshwanth Nag Mocherla, Co-Founder, TTSF Cloud One, said in a statement.
“We understand what it takes to scale a food brand across multiple cities and countries via our experience with The Thickshake Factory having built 125 physical stores in India & the US across 25+ cities over the last 8 years, being bootstrapped & profitable. We are aiming to operationalise 50 cloud kitchens, operating at least 350 Internet restaurants by the financial year-end,” he added.
Early this year, the start-up introduced a healthy food brand, ProwlFoods with Bollywood actor Tiger Shroff & operates another artisanal brand Wowffles and The ThickShake Factory via its cloud kitchens.
In October, Cloud kitchen startup Curefoods, floated by Cure.fit acquired seven food brands just months after it bagged its Series A funding round.
The brands it acquired include subscription-based home-cooked meals MasalaBox, all-day Indian breakfast meals brand Paratha Box, online confectionary chain Cake Zone, biryani brand Ammi’s Biryani and online ‘chaat’ brand Chaat Street, said Curefoods in a statement.