Food tech platform Ghost Kitchens India raised $5 M Series A Debt & Equity funding
In its Series A round, food tech platform Ghost Kitchens India has raised $5 million in debt and equity. LetsVenture, Lead Angels, NB Ventures, and GVFL Limited participated in the round, which was led by the latter.
Actor Rana Daggubati and current investors Yuj Ventures and Dholakia Ventures took part in this round as well.
Ghost Kitchens states that the money will be utilized to expand into retail locations for both its new celebrity brands and its current hero brands, as well as to speed up business operations. Concurrently, it will aid in the enhancement of the partner program and expand the reach of cloud kitchens and QSR stores that are owned and operated by the company.
By integrating a plug-and-play food delivery concept into preexisting setups, Ghost Kitchens, founded by Karan Tanna, offers cloud kitchen brands designed to boost revenue and kitchen profits. It provides cheap, low-risk expansion opportunities that help maximize incremental sales and improve margins. In order to encourage organic order growth, it also provides a free tech platform for tracking sales and operational data.
In addition to 12,000 internet eateries spread throughout 40 Indian cities, the brand runs 15 company-owned and operated cloud kitchens in Mumbai and Ahmedabad.
Focusing on its hero brands and forming new partnerships with celebrities, the startup aims to turn a profit within the next 12 to 15 months.
Ghost Kitchens India purchased Chef Vicky Ratnani’s SpeakBurgers in February 2023, and in the ensuing 18 to 24 months, it intends to expand the partnership by opening 25 physical retail locations.
Ghost Kitchens India had earlier in 2022 acquired a technology company called WTF, which assisted Ghost Kitchens in developing its in-house technology and with overall business management.
