Cloud Kitchen firm Hoi Foods has raised $2 million in pre Series A funding round led by 1Crowd which also saw contribution from Sprout, Angelist, Founder of Jugnu– Samar Singla, CEO of VCCircle– Jaideep Mehta and SVP of Business at UrbanClap– Mukund Kulashekaran among others.
Started in April 2017 by Indrajeet Roy and Pavan Raj Kumar, Hoi Foods presently has 150 active Cloud Kitchens serving 5000+ meals in a day. They are currently operating in Delhi NCR and Bengaluru but are soon planning to expand into Hyderabad, Mumbai, Pune and reach more pin codes in Bengaluru.
Cloud Kitchen works on a delivery-only restaurant format where a small eatery or a group of food brands share kitchen space under one roof. This service does not facilitate din-in experiences and only allows takeaways or ordering from food delivery apps like Swiggy and Zomato.
The new raised funds will be used better the company’s existing network and mark Hoi Foods presence in the Cloud Kitchen network. It will focus on expanding it reach across the country, enhance its technology and strengthen the supply chain.
Pawan Raj Kumar, Co-founder of Hoi Foods said in a statement, “We are building a very strong play in the cloud kitchens ecosystem and have been able to put together a decently large network in a very short duration. We feel honored and excited to receive the confidence of all investors. I am also very confident and motivated to build our organization much bigger and better with this.”
The cloud kitchen firm also operates a dark shop model called Hoi Stores for hyperlocal delivery through aggregators. The firm has grown 7 times since the seed funding round in 2018, they concluded in a statement.