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Food-tech startup “InnerChef” raises $2.5M from Japanese fund Mistletoe & others


InnerChef delivers ready to eat and ready to cook boxes in several categories like breakfast, salads, paninis, combos, main course, snacks, drinks, desserts & cakes

Bengaluru – Oct 05, 2016. RedNewswire/-

Gurgaon-based food-tech startup InnerChef  has raised $2.5 million in series A funding round led by Japanese fund Mistletoe.The existing investors also participated in the funding round along with M&S Fund Singapore.

Launched in 2015 by Rajesh Sawhney, Sanjeev Singhal and Bal DiGhent, InnerChef offers ready to eat meals, ready to cook meals and desserts. Ingredient boxes contains instruction card and prepped ingredients to help users prepare meal in 10-20 mins time. It is currently operational in seven Indian cities and ships over 100,000 meals per month.

Mistletoe is funded and owned by Taizo Son, CEO of Japanese telecommunication and internet corp SoftBank. He is also the founder of Japan-based mobile gaming company GungHo, in which SoftBank had acquired a 51% share in 2013 for $1.53 billion.

InnerChef co-founder Rajesh Sawhney,said..

“We plan to invest in building a high growth food-tech platform and differentiate our experience even further. We have started adding more kitchens across our four metros of NCR, Mumbai, Bangalore and Hyderabad. Our focus is to deepen our presence in these four metros for the next six months.”

In March 2016, InnerChef had acqui-hired two startups—Bengaluru-based EatonGo and Gurgaon-based Flavour Labs. It had earlier raised $1.6 million in seed funding from tech entrepreneurs like redBus founder Phanindra Sharma, Paytm founder Vijay Shekhar Sharma, founder Anupam Mittal and GOQii founder Vishal Gondal.

Atisushi Tairo, chief growth officer, Mistletoe,said..

“Mistletoe explored investment opportunities of the corrective impacts on food and farming sector. We believe that InnerChef would become the crucial model of improving the food and farming ecosystem in India.”

Taira, who was previously the CEO at Bharti SoftBank,said..

“There is an attractive pool of talent that consist of ex-Silicon Valley entrepreneurs and smart young people graduating from top-notch universities. Huge opportunities plus upcoming technologies and infrastructure make India a big interest for us.”

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