Online food delivery company Holachef has raised Rs 2 crore in a round of seed funding led by India Quotient, reports Economic Times. The funding has been done in the form of a convertible note, a short-term debt that converts into equity when the startup raises Series A. The platform said its looking to raise a further Rs 20-30 crore in the coming months.
Holachef currently lists dishes from various professional and amateur chefs on its platform. Users can order these meals, for lunch (12-6pm) and dinner (8-11:30pm), although orders have to be placed a few hours in advanced. The meals are then packaged, stored and delivered by the startup. Orders for meals have to be placed a few hours in advance. Meals on the platform currently range between Rs 120 and Rs 300.
As of now, the startup delivers in areas of Mumbai including Powai, Mulund, Andheri west, Ghatkopar and Malad. Currently it lists south Indian meals, Italian cuisine, salads, dal rice, north Indian meals and lemonade among others, however the platform claims it has new cuisines everyday.
Founded in May 2014, Holachef currently claims to see over 150 orders a day, an increase from 5 orders a day when it started operations in September last year. The startup said its targeting 200 orders per day by the end of February.
– Online food ordering portal JustEat.in, introduced a new user interface for its Android app, along with a new ‘haPPy hour’ feature in November last year. The company was initially acquired by Just Eat UK in January 2011, which subsequently relinquished control over JustEat.in in November 2013 when Axon Partners Group and Forum Synergies India invested in the Indian entity.
– Former Times Internet CEO Rishi Khiani’s AntFarm* had acquired the food delivery service Meals on Wheels for an undisclosed amount in November last year. The company then launched a redesigned version of Meals On Wheels website that allows users to search for their preferred restaurants, cuisines or dishes and place orders.
– Rocket Internet-backed FoodPanda had also acquired the Delivery Hero-backed online food ordering service TastyKhana for an undisclosed amount the same month. Pune-based TastyKhana, that had launched in 2007, had received more than $5 million investment from Delivery Hero in June 2013.
– It’s worth noting that FoodPanda itself has raised two rounds of investments – $60 million from a group of investors including Rocket Internet AG & Falcon Edge Capital in August and $20 million from a group of investors including Phenomen Ventures in February last year.
Image source: Holachef
*Disclosure: AntFarm is an advertiser with Medianama