The Ahmedabad-based cloud kitchen startup has also launched their Brand-as-a-Service (Digital Franchising) offering.
Multi-brand cloud-kitchen BigSpoon has raised Rs 15 crore in a pre-Series A round from NB Ventures, CreedCap Asia, Zed Capital, and angel investors including Sanjiv Bajaj, Bhanu Chopra, and Jatin Aneja.
The Ahmedabad-based cloud kitchen startup has also launched their Brand-as-a-Service (Digital Franchising) offering that offers the opportunity to partner & ride the cloud kitchen wave together.
“Joining our franchise family gives you the independence of being your own boss along with the support of our experienced team and cherry-picked menu,” added the statement by pointing that Bigspoon has a unique multi-brand and omni-channel setup that allows high returns and low upfront cost.
“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,’ shared Kapil Mathrani, CEO and Co-founder, Bigspoon that wants to introduce fine-dining experience at home in these cities.
The brand will use the fund raised to expand to new markets targeting around 30 cities by opening 50 outlets by the end of this financial year.
They will also use the money to invest and hire new people and develop their product.
“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,’ added Neelesh Bhatnagar, MD, NB Ventures that has earlier invested in TeaBox.
Founded in 2019 by Kapil Mathrani and Poojan Thakkar, Bigspoon caters to over 50,000 diners every month. The startup has created a full-stack solution for cloud kitchens, with its own brands, Brand-as-a-Service and Kitchen-as-a-Service verticals.
“Our partnership with Bigspoon is led by our mutual belief in Bigspoon’s Tier-II/III thesis. India’s-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,” believed Vishal Pereira, MD, CreedCap Asia.
The foodtech market in India was valued at Rs 289.36 billion in 2019 and is expected to reach Rs 1,868.19 billion by 2025, expanding at a compound annual growth rate (CAGR) of over 39 percent during the 2021-2025 period.