Faasos Food Services Pvt. Ltd is a Pune-based quick service restaurant chain and online food delivery company
On-demand food delivery startup Faasos has raised $6.3 million in series C funding round from existing investors Sequoia Capital, Lightbox Ventures, RB Investment, Ligthbox Ventures II & ruNet.
This funding is an extension of its previous funding round from existing investors, as per filings made with the Registrar of Companies (RoC).
The company was founded in 2011 by Jaydeep Barman and Kallol Banerjee. It 0perates a chain of takeout/delivery outlets for Indian fast food like wraps, Mughlai food, curries, and rice items. As of November 2014, Faaso’s has 75 outlets and plans to open 500+ outlets across India by 2020. Faaso’s operates its 75 outlets in five cities of India – Pune, Mumbai, Bangalore, Ahmedabad, and Vadodara.
In December 2015, Faasos had raised $30M in series c funding round led by Ru-Net, Lightbox Ventures, Sequoia Capital which valued the company at over Rs 870 crore.
Faaso’s app has close to 100,000 monthly active users and is a managed marketplace, wherein people can order food from other restaurants as well.
Faasos has so far raised close to $50 million in equity-based funding, according to data available on public platforms.