Mumbai based Food Startup Holachef Raises Rs 20 Crore led by Kalaari
Holachef, a Mumbai-based online restaurant, has raised Rs 20 crore in venture capital funding led by Kalaari Capital with participation from existing backer India Quotient. The funding will be used by the one- year-old startup to invest in modern infrastructure, technology and delivery.
Online restaurants do not have any physical presence on high streets and only take delivery orders online or on the mobile application. Holachef is a marketplace where professional and amateur chefs can sell meals once approved by the startup.
Currently serving in Andheri, Powai and Bandra Kurla Complex, Holachef is doing over 1,000 orders a day as compared to 150 in January 2015.The startup offers as many as 50 choices each day and orders have to be placed a few hours in advance for lunch, snacks and dinner slots.
Going ahead, building a supply chain will be a high priority for the startup. "Considering the extreme environment in which deliveries happen in this country, it is important for us to invest in infrastructure," said IIT Bombay graduate Saurabh Saxena, who founded Holachef along with Anil Gelra.
Holachef also plans to set up a central kitchen going forward, "creating a farm to kitchen model so supply and quality is much better controlled," added Saxena.The funding comes at a time when food tech has emerged as one of the hottest segment for investors, with over a dozen deals this year.
Online restaurants like Bengaluru-based FreshMenu and SpoonJoy have raised funding from Lightspeed Venture Partners and SAIF Partners, respectively, while similar players in Delhi like Yumist and Frsh have also attracted firms like Orios Venture Partners and Kae Capital.
On the other hand, online food delivery players who work with existing restaurants have also been attracting large amounts of capital. Bengaluru-based Swiggy announced a Rs 104-crore funding round led by Norwest Venture Partners, while Mumbai's TinyOwl raised Rs 100 crore led by Matrix a few months ago.