Ubiquitous Foods gets funding from Kalaari Capital
Chennai, India | Red Newswire | Dec 17, 2015 Last Updated at 04:00 PM IST.
Ubiquitous Foods – the Chennai-based food-tech startup has just raised a fresh funding from Kalaari Capital which is its existing investor too! The amount has not been disclosed yet. Adding this the company has raised Rs. 25 crore by now.
Ubiquitous plans to use the funding in expanding its chain of “Eatfresh” – its internet-first restaurant. This full stack player is providing both local and international cuisine in Bengaluru’s 20 locations.
Earlier in 2013 also Kalaari Capital had made investment in the company. The Chennai-based startup also launched OvenFresh seven years ago which is now a full-fledged retail bakery chain.
Founder of Eatfresh, Rajiv Subramanian said, “We plan to have 50 distributions hubs between Bengaluru and Chennai.” He said the company will expand to Pune and Hyderabad 3-4 months after this is accomplished. The company is also looking forward to launch a mobile app next year.
Rajesh Raju, MD of Kalaari Capital says, “Food-tech will emerge as a large category, however, we believe a full-stack model with full control from order-taking to food preparation to door-step delivery is imperative to building customer trust and a great brand. This is a food business first and tech second - Rajiv understands the food business extremely well and believes that technology is only a convenience and a scale agent."
This year in month of June, Kalaari along with India Quotient invested Rs. 20 crore in another food-tech startup Holachef. Raju said, “Eatfresh is part of our FundII and Holachef is part of FundIII. We believe both have some unique and differentiated offerings and food tech is a large enough category to accommodate both.”
Eatfresh has 80 delivery boys and everyday it puts 15 items on its menu ranging from Rs. 130 to Rs. 220. On the other side Ovenfresh serves 10,000 customers at 50 different locations every day in Chennai and Bengaluru.