Ghost Kitchens India has announced the successful closure of its Series A funding round, raising a substantial $5 million in a combination of equity and debt financing. Spearheaded by GVFL Limited and backed by prominent investors such as NB Ventures, LetsVenture, and Lead Angels, this infusion of capital is poised to propel Ghost Kitchens India towards its ambitious expansion goals and reinforce its position as a trailblazer in the culinary industry.
Founded by visionary entrepreneur Karan Tanna, Ghost Kitchens India has been at the forefront of disrupting traditional culinary norms with its innovative cloud kitchen brands designed to maximize revenue and profitability. By seamlessly integrating plug-and-play food delivery concepts into existing setups, the platform offers culinary entrepreneurs a unique opportunity to capitalize on incremental sales and achieve better profit margins through low-risk expansion avenues.
With a robust presence spanning 15 company-owned and operated cloud kitchens in key cities like Mumbai and Ahmedabad, coupled with a network of 1,200 internet restaurants across 40 cities in India, Ghost Kitchens India has quickly emerged as a dominant player in the rapidly evolving food tech landscape.
The Series A funding will be instrumental in accelerating Ghost Kitchens India’s expansion plans, which include establishing retail outlets for its flagship brands and introducing new celebrity-endorsed culinary offerings. Additionally, the funding will facilitate enhancements to the platform’s partner program and the expansion of company-owned and operated cloud kitchens and Quick Service Restaurants (QSR) outlets.
Commenting on the successful funding round, Karan Tanna, Founder of Ghost Kitchens India, expressed his excitement about the company’s future prospects. “This funding round marks a significant milestone for Ghost Kitchens India and underscores the confidence that investors have in our vision. We are committed to revolutionizing the culinary landscape in India and are poised to leverage this funding to accelerate our growth trajectory and drive innovation in the food tech sector,” he stated.
In a strategic move to bolster its portfolio, Ghost Kitchens India acquired SpeakBurgers, a venture pioneered by celebrity Chef Vicky Ratnani, in February 2023. Leveraging this acquisition, the company plans to expand its presence by establishing 25 offline retail stores over the next 18 to 24 months, thereby solidifying its footprint in the offline retail segment.
Furthermore, Ghost Kitchens India enhanced its technological capabilities in 2022 by acquiring WTF, a cutting-edge technology company. This strategic acquisition enabled Ghost Kitchens India to develop proprietary technology solutions, empowering them to streamline their operations comprehensively.
With a clear roadmap towards profitability within the next 12 to 15 months, Ghost Kitchens India is poised for an exciting phase of growth and innovation, as it continues to redefine the culinary landscape in India and beyond.
