The funding, now at INR 25 crore is to expand Eatfresh, its internet-first restaurant.
Chennai-based Ubiquitous Foods, which runs bakery chain Ovenfresh, has raised an undisclosed amount in funding from existing investor Kalaari Capital. The latest funding takes the total amount raised so far to INR 25 crore and will be used mainly to expand its internet-first restaurant brand Eatfresh.
It plans to ramp up its operations in Bengaluru and enter Chennai, Hyderabad and Pune markets according to founder Rajiv Subramanian.
The online service, launched this August, operates a full-stack model and offers Indian and international cuisine in a daily rotating menu at nearly 20 locations in Bengaluru. It first prepares its food in a commissary kitchen and then sends its products to 10 distribution hubs.
The company claims its seven-year-old retail bakery chain Ovenfresh caters to 10,000 customers a day at 50 locations in Chennai and Bangalore. Ovenfresh was set up in 2008 by Subramanian, an IIM-Ahmedabad alumnus and former investment banker who worked with Lehman Brothers.
Kalaari Capital is an early-stage, tech-focused VC fund. It had picked up a significant minority stake in the company in 2013.
The VC firm provides capital to early-stage companies operating in India and US across sectors like technology, clean technology, healthcare, education, pharma, food and beverages, technology-enabled services, media and entertainment and retail. It typically invests between USD 1 million and USD 5 million in its portfolio companies.
