Online food delivery company Holachef has raised Rs 20 crore in a round of seed funding led by the venture capital firm Kalaari Capital and participation from existing investor India Quotient, reports Vccircle. The startup will use the funds to invest in infrastructure and technology.
Holachef had raised Rs 2 crore in its seed round of funding from India Quotient in February this year. The funding was done in the form of a convertible note, a short-term debt that converts into equity when the startup raises Series A. The company had said then that it was 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. Meals on the platform currently range between Rs 120 and Rs 300. The platform provides new cuisines everyday and lists the food that will be made available for the next three days.
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 company said that it has ties ups with over 100 chefs, not hotels, and providers the complete delivery infrastructure for them.
As of now, the startup delivers in over 30 pin codes in Mumbai including Powai, Mulund, Andheri west, Sahar, Vasant Vihar, Juhu, Ghatkopar and Malad. It lists South Indian meals, Italian cuisine, salads, dal rice, North Indian meals and lemonade among others food items on its platform.
– Last month, Zomato launched a separate app in Delhi called Zomato Order, for its food ordering service on iOS and Android. The service was later extended to Pune and Mumbai earlier this month. While it might seem a bit strange why Zomato launched a separate app for food ordering, the company had said that this allows them to build lightweight apps and focus on specific problems faced by users.
– 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 subsequentlyrelinquished 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.
– Earlier this month, media house and broadcaster NDTV revealed that it was planning new online ventures in the field of food, auto and gadgets and has signed preliminary, non-binding term sheets with potential investors.