Hustlers Hospitality Raises INR 7 Crore Seed Fund The fund will be used for market expansion, accelerating growth, hiring and SOP development
By Teena Jose
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Hustlers Hospitality, asset light food tech startup, has raised INR 7 crore in Seed funding from Falisha Technoworld. The company claims that it intends to use the fund for accelerating the growth and market expansion, reaching across six cities through more than nine dedicated central kitchens by the end of this financial year. The startup will also use the funding for hiring and SOP development.
"We are pleased to raise these Seed fund and would like to thank our partner in realizing the vision that we had set out for our inhouse multi cuisine, multi brand kitchen. We are entering a very exciting, high acceleration phase in our journey and I am confident and equally excited that we will grow many folds in the coming months. We are also in talks with taking a step closer to overseas expansion starting from Dubai and Maldives. We aim at expanding our franchises, consulting services and cities, anticipating a 32 times growth this year," said Krunal Oza, founder, Hustlers Hospitality.
The platform has more than 36 brands of cloud kitchens and QSR brands with currently operating over 400 Internet restaurants listings. Hustler's brands are currently present with cloud kitchen operations in Mumbai, Pune, Bangalore, Delhi, Hyderabad, Surat, Ahmedabad, Ludhiana, Chandigarh, Patna and Darbhanga. The company has grown 16 times in terms of revenue in the last 14 months alone. Currently it aims for a high double-digit ARR growth by the end of this year and to raise another Series A funding by the end of FY22, claimed by the company in a statement.
Founded in 2020 by Krunal Oza, Hustlers Hospitality scale inhouse cloud kitchen brands majorly through 'growth hack model' which is designed to partner with existing restaurants and gives them an opportunity to earn incremental sales or additional profit from a new line of cloud kitchen business using already invested real estate, kitchen equipment and manpower.
