Ghost Kitchens India has declared that it has acquired Shy Tiger brands, an Ahmedabad-based cloud kitchen company.
The purchase follows the $5 million equity and debt round that Ghost Kitchens completed earlier in February 2024.
Shy Tiger, established in 2018 by Milapsinh Jadeja, is a chain of five multi-brand cloud kitchens located throughout Ahmedabad. Famous brands in the company’s portfolio include The Black Chimney and KBOB’s.
Through this acquisition, Ghost Kitchens will become more well-known in Gujarat by incorporating its current brands into the framework of Shy Tiger.
Ghost Kitchens operates 1,200 internet restaurants in 40 Indian cities and 15 company-owned and operated cloud kitchens in Mumbai and Ahmedabad.
Ghost Kitchens purchased WTF, a technology company, earlier in 2022, which assisted them in developing their own technology. In order to expand the partnership through 25 offline retail stores in the ensuing 18 to 24 months, Ghost Kitchens also purchased Speak Burgers, a celebrity chef’s creation, in February 2023.
The cloud kitchen market is expected to grow from $400 million in 2019 to $3 billion by 2024, according to a Redseer report. Furthermore, leading startups in the space have raised almost $1 billion since their founding and about $600 million in funding over the last three years, according to the media.
