Cloud kitchen player Big Spoon gets USD 2 mn from Grip Invest

Cloud kitchens startup Big Spoon has raised USD 2 million in lease financing deal from Grip Invest, its founder Kapil Mathrani said.

The startup will use the fund to drive deeper consumer adoption in small towns. 

Grip is the first to offer asset leasing services to Big Spoon, which operates 80 internet restaurants and has a presence across 15 cities with 21 outlets. 

Big Spoon offers 11 different brands covering varied cuisines including Makhni, Oven and Grill, Meals 101, Monkey Fries, the Wrap Co and East Pizza Co.

Mathrani said his company delivers over 2,000 orders daily with a volume of up to 5,000 orders over the weekend. With this lease financing partnership with Grip, we can focus on increasing our presence in small towns which have lower brand affinity.

Started in June 2020 by Nikhil Aggarwal and Vivek Gulati, Grip has seen a 35 per cent month-on-month growth is a growing destination for non-stock market linked investments.

Today, Grip offers investment option of leasing assets to disruptive businesses like Udaan, Stanza Living, Furlenco, Bounce, Blue Tokai, Everest Fleet, IPLElectric, FabAlley and LetsTransport.