My Cloud Kitchen Joins Hands With NVA Foods, Launches $1.23 Million Corpus
The joint venture will leverage its expertise such as in-house capabilities of brand building, vendor tie ups, menu engineering, inventory management and so on
My Cloud Kitchen joins hands with NVA Foods to incubate and consult cloud kitchen startups in Bangalore and launches $1.23 million corpus. The joint venture will leverage its expertise such as in-house capabilities of brand building, vendor tie ups, menu engineering, inventory management, staff recruitment, culinary training, marketing etc.
Krunal Oza, founder and CEO of Hustlers Hospitality, in the past, has acquired 31 per cent stake in My Cloud Kitchen and has now joined hands with Amit Sarin, who owns NVA Foods with 8 brand portfolios. Together as a joint venture to grow the consulting business, they intend to focus on India's growing food tech and delivery market, from Bangalore, and will incubate and invest its resources at a cost in cloud kitchen startup companies that focuses on multi brand multi cuisine model only on home delivery business model. It has planned corpus of $1.25 million for the first tranche, where it will invest in incubating and consulting at least 18 brands in the year 2022, claimed by the company in a statement.
"The company will provide consultancy to aspiring foodpreneurs that are wanting to step into the food delivery business with a unique concept and multi brand multi cuisine business model. Our goal is to make the hustle of food entrepreneurship as hassle-free and affordable as possible," said Krunal Oza.
Founded in 2012, My Cloud Kitchen claimed that it has successfully executed more than 500 projects in the last 10 years. The team work with ambitious people who are interested in investing in cloud kitchens and offer an end-to-end consulting support for kitchen set up, branding, operation and marketing.
"We have worked with Krunal and team in the past. This strategic joint venture will help us together to expand the strength of My Cloud Kitchen consulting operations in Bangalore. The industry is growing at the highest CAGR as compared to other segments and restaurants industry. Looking at this rising demand, we are excited to be in this journey," said Amit Sarin, founder, NVA Foods.