Innerchef bags $6.5 Mn pre-Series B round led by Mistletoe, Das Capital, and others

Innerchef

Cloud kitchen platform Innerchef has raked in $6.5 million in pre-Series B round led by Taizo Son’s Mistletoe Inc, Das Capital, Saha Capital, M&S Partners, and Brand Capital.

So far the Gurugram-based startup has raised about $10 million risk capital. Last it had raised an undisclosed Series A funding round from Russia’s Chernovetskyi Investment Group.

The online food discovery and delivery startup will use the fresh capital to expand its footprint in 10 additional cities including Pune, Ahmedabad, Kolkata, Chennai, and Jaipur.

Besides, Innerchef will also foray into the packaged goods segment, reports ET.

Launched in 2015 by Rajesh Sawhney, Sanjeev Singhal, and Bal Dighent, InnerChef has built a portfolio of brands like Healthie, Bombay Sandwich Company, Thalis of India, YumYumDilli and YumYumSouth.

Currently, it has about 25 shared kitchens across six cities and planning to open 100 kitchens across 10 cities, including Chennai, Kolkata, and Pune. To expand its cloud kitchen, the startup will also double its headcount to 1,000 by 2019.

The company’s last financial recorded a slow growth due to rise in expenses. On the revenue front, Innerchef posted Rs 15.67 crore, a 58.7 per cent increase in income as compared to FY17. The losses of the firm also increased by 17.12 per cent, going up from Rs 11.01 crore to Rs 12.89 crore.

In cloud kitchen model, Innerchef finds competition from Freshmenu, Zomato, and Swiggy.

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