IDC Kitchen, a leading chain of vegetarian South Indian quick service restaurants, has announced securing Rs 1.5 crore in debt funding from Velocity, a financing platform supported by Peter Thiel’s Valar Ventures. This investment is poised to fuel IDC Kitchen’s expansion plans and solidify its position in the competitive culinary landscape.
Founded in 2012, IDC Kitchen has been committed to offering authentic South Indian cuisine at affordable prices. With a focus on self-service dining, the company has garnered a strong presence in key cities like Bengaluru and Mumbai, along with strategic locations in other regions like Raichur.
The infusion of funds from Velocity comes at a crucial juncture for IDC Kitchen, enabling the company to ramp up its marketing efforts and bolster its inventory management systems. These initiatives are aimed at enhancing customer outreach and ensuring a seamless dining experience for patrons across its network of restaurants.
The decision to partner with Velocity underscores IDC Kitchen’s strategic approach to growth and innovation. By tapping into Velocity’s expertise in cash-flow-based financing, IDC Kitchen aims to capitalize on emerging opportunities in the quick service restaurant (QSR) sector, which is poised for significant expansion in the coming years.
Commenting on the funding, a spokesperson for IDC Kitchen stated, “We are thrilled to partner with Velocity and leverage their resources to propel our growth trajectory. This funding will enable us to strengthen our market presence, explore new avenues for expansion, and continue delivering exceptional value to our customers.”
Velocity, known for its commitment to supporting new-age businesses in the food and beverage industry, has a track record of backing successful ventures. With over Rs 750 crore disbursed to date and partnerships with leading marketplaces, Velocity brings a wealth of experience and resources to the table.
“We believe in the vision and potential of IDC Kitchen to redefine the QSR landscape with its innovative approach to South Indian cuisine,” remarked a representative from Valar Ventures. “Velocity is proud to support IDC Kitchen’s growth journey and looks forward to witnessing their continued success in the years to come.”
The funding secured from Velocity marks a significant milestone for IDC Kitchen as it embarks on the next phase of its expansion. With a focus on quality, affordability, and customer satisfaction, IDC Kitchen is poised to cement its position as a frontrunner in the competitive quick service restaurant segment.
