Ghost Kitchens India, a leading food tech platform, has successfully closed a Series A funding round, raising $5 million in equity and debt financing. GVFL Limited spearheaded the round and saw participation from prominent investors such as NB Ventures, LetsVenture, and Lead Angels.
Existing investors, including Yuj Ventures, Dholakia Ventures, and renowned actor Rana Daggubati, joined this round, underlining their continued confidence in Ghost Kitchens’ vision and potential.
The infusion of funds is earmarked for accelerating business operations, expanding into retail stores for existing hero brands, and creating new partnerships with celebrities. This strategic move aligns with Ghost Kitchens’ mission to enhance its footprint, upgrade its partner program, and bolster the presence of its company-owned and operated cloud kitchens and Quick-Service Restaurant (QSR) stores.
Founded by Karan Tanna, Ghost Kitchens offers cloud kitchen brands designed to optimize revenue and amplify kitchen profits. The platform empowers businesses to unlock incremental sales and achieve better margins by introducing a plug-and-play food delivery model into existing setups. Additionally, Ghost Kitchens provides a complimentary tech platform enabling partners to monitor sales and operational metrics, facilitating organic growth in orders.
Currently, the brand operates through 15 company-owned and operated cloud kitchens in critical locations like Mumbai and Ahmedabad, alongside a vast network of 12,00 internet restaurants across 40 cities in India.
Looking ahead, Ghost Kitchens India aims to achieve profitability within the next 12-15 months by doubling down on its hero brands and forging new partnerships with celebrities. Notably, the company’s acquisition of SpeakBurgers by celebrity Chef Vicky Ratnani in February 2023 paved the way for ambitious plans to expand this partnership by establishing 25 offline retail stores within 18-24 months.
In a strategic move earlier in 2022, Ghost Kitchens India acquired technology firm WTF, which is pivotal in developing proprietary technology solutions. This acquisition has enabled Ghost Kitchens to streamline its operations and effectively manage its business.
With this latest funding round and a robust strategy in place, Ghost Kitchens India is poised for significant growth and continued innovation in the dynamic landscape of the food tech industry.
