Auntie Fung’s, a Bengaluru-based QSR startup, has raised Rs 3.35 crore in an angel round led by India Angel Network. The funding round was led by angel investors Anjali Malhotra, Ajay Rajgarhia and Nitin Jain.
Auntie Fung’s plans to use the freshly infused capital to open new cloud kitchens. Along with that, the funds will also be used to build back-end capability around supply chain and technology. According to a statement released by Indian Angel Network (IAN), it will also look to hire key talent from the culinary world and build brand awareness.
The statement said the current funding round also saw participation from Lead Angels, Lets Venture and Chandigarh Angels.
Talking about the fundraise, Subhradeep Bhowmik, co-founder of Auntie Fung’s said: “During the new normal we were quick to adapt to delivery model and are looking at scaling up via cloud kitchens and delivery model for the next 12-15 months”.
Satrajit Das, co-founder & COO of Auntie Fung’s said: “Our cloud kitchen will help us provide a differentiated product offering with fast scale-up and depth of reach. In the last six years, the company has been able to build a sustainable venture”.
Indian Angel Network is India’s first and world’s largest business angel network with investors from 12 countries. IAN has 500 members across the world.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today