Aimed at Tier-2 cities, Bigspoon plans to utilize the fund to strengthen the food delivery experience across the country
New Delhi: Bigspoon, an Ahmedabad-based cloud kitchen startup, has raised INR 100 crores in a funding round from IAN, along with NB Ventures, Go-Ventures, Lets Venture, Grip Invest, Anicut Capital, and joined by celebrity investor Mouni Roy — who would also be associated in brand incubation and endorsements.
The company intends to utilize the fund to expand to more than 250 kitchens in 75 cities across the country, add brands in top categories, hire for significant leadership positions, invest in technology for clients, and backward integration for effective production and supply chain.
Founded in 2019 by Kapil Mathrani and Poojan Thakkar, Bigspoon is a multi-brand, omnichannel cloud kitchen company focusing on Tier-2 cities. The startup seeks to democratize the food delivery options in Tier-2 & 3 cities, as the cloud kitchen markets are underserved and underpenetrated. The company has also introduced innovation in food manufacturing, menu selection, and packaging, using fresh food as ingredients rather than frozen ones to minimise the delta between fine-dine and delivered food experience.
With 80 kitchens spread throughout 16 states and 35+ cities, Bigspoon caters to 150,000+ diners every month. It houses 9 brands, including Mehfil Biryani by Zakir Khan, Makhni Brothers, Thali Central, and Meals101 spanning various cuisines and menu options. Creedcap Asia advised Bigspoon on the funding round.
Kapil Mathrani, CEO & Co-Founder, Bigspoon, said, “Our journey has been phenomenal, and till now, we have served over 3 million customers. With the current infusion of funds, we would look at investing across various verticals, expanding our footprint and adding brands in leading categories. Our incoming and existing investors have faith in our strategy to scale.”
Sanjiv Bajaj, IAN Lead Investor, said, “Kapil is a highly experienced entrepreneur who has taken his earlier startups to good exits for himself & his investors. The concept of cloud kitchen in India is still nascent and Bigspoon, with its expertise, possesses the right knowledge to revolutionize the sector. It will be filling the gap in the underpenetrated Tier-2 & 3 markets which are still underserved. The funds will serve as a catalyst to boost Bigspoon’s aim to expand its network across India. We are pleased to be a part of this innovative journey. The company has shown explosive growth since inception, and we feel these funds will help them achieve the next level.”
Mouni Roy said, on her investment in Bigspoon, “Anyone who knows me knows that I am a big foodie. Good food brings me so much joy. I’m thrilled to be investing in Big Spoon, so I can now be a part of spreading that joy to millions of people across the country. Being raised in a small town myself, I especially love that Big Spoon caters network caters to Tier 2 and 3 cities.”
Neelesh Bhatnagar, Managing Director at NB Ventures, said, “We continue to believe in the cloud kitchen ecosystem of Asia, and that is reflected in our continued belief and backing of Bigspoon. Kapil and the team at Bigspoon have grown at a breakneck pace, geographically and in traction. We will also use the BigSpoon network to launch a few brands which are doing well in Dubai and facilitate to bring BigSpoon to Dubai and Middle East markets.”
Bigspoon, the largest cloud kitchen business in the Tier-2 market and the only Indian F&B firm with a celebrity brand, serves more than 150,000 diners monthly. With the launch and expansion plans for the upcoming quarter, this number is anticipated to quadruple. By the end of this fiscal year, the startup plans to introduce two new brands and at least 150 new kitchens.
According to a report, India’s cloud kitchen market is projected to touch a $2.5 Bn mark by 2028, growing at a CAGR of 17.5% during 2024-2028. The market is anticipated to grow on the grounds of the increasing inclination of the population toward online food delivery services
