Food Company FairPlum Raises $2 Million In Seed Round
The fresh funds will be used to improve consumer experience with innovations in technology and upgrade the infrastructure by expanding the platform to other strategic territories
Authentic food provider Fairplum, an initiative of former Unilever executives Rupesh Agarwal, Mayank Tandon and Mitesh Thakkar, raised $2 million in a seed round led by Mumbai-based early-stage focused VC Unicorn India Ventures. Angel investors Vivek Sirohi, VP-R&D, Unilever, Amith Agarwal, co-Founder & CEO at Agri-Bazaar, Dinshaw Family Office and Anisha Subandh also participated in the round.
FairPlum aims to deliver authentic flavours of nostalgia to consumers' doorstep by preserving goodness in a healthy and hygienic manner. Founded in 2020, the company's vision has been to deliver authentic flavours and food nostalgia to customer doorsteps in less than an hour.
It has since launched five different brands of street food named Karvaan, Rollz Karvaan, Kebabi Karvaan, and Unmarried Kitchen and Crafted. With the investmet, FairPlum plans on setting up 100 cloud kitchen locations, a physical experience center and 5-10 kiosks within 2022 starting from Delhi-NCR and Mumbai.
The food company currently operates in seventeen locations and has confirmed ten more cloud kitchen locations and one physical experience centre in Thane, along with Bikanervala which is expected to go live in the next two months.
On the investment, Rupesh Agrawal, founder and CEO, FairPlum, says, "FairPlum's vision is to run a network of hundreds of cloud kitchens/physical experience centres on which we will ride our most authentic and iconic foods and their brands from all over the world. The purpose is to deliver food products to consumers by preserving goodness in a healthy and hygienic manner. We will use the fresh funds to improve consumer experience with innovations in technology and upgrade the infrastructure by expanding the platform to other strategic territories."
Anil Joshi, managing partner, Unicorn India Ventures, says, "FairPlum leverages technology to enhance efficiency and preserve the taste of the food which will be delivered in under an hour. Today, the consumer wants what they see and with immediate fulfilment. The food industry is undergoing a significant revolution especially with its creativity, innovation and cutting edge technologies. We saw a strong pipeline of user base and business traction addressing food nostalgia which is why we decided to invest in them further."