Ghost Kitchens India secures USD 5 million in Series A funding

Food-tech platform Ghost Kitchens India has raised USD 5 million in Series A funding — a mix of equity and debt. The round was led by GVFL Limited with participation from NB Ventures, LetsVenture, and Lead Angels. Existing investors Yuj Ventures, Dholakia Ventures, and actor Rana Daggubati also participated in this round. 

Ghost Kitchens informed that the fund raised from this round will be utilized to scale business operations and foray into retail stores of its existing hero brands and new celebrity brands. The brand added that it will also help to upgrade the partner program and increase the footprint of company owned and operated cloud kitchens and QSR stores.  

Commenting on the development, Karan Tanna, Founder and CEO, Ghost Kitchens, said, “We are happy that investors have appreciated and backed our plans to build a profitable F&B company led by innovation in technology. We have created 10X value for our earlier investors and we are sure to continue with this performance for new backers. We are excited for coming years where we will focus on building iconic brands through customer loyalty and love for our food.”

Earlier in 2022, Ghost Kitchens India had acquired a technology company-WTF which helped Ghost Kitchens to create its proprietary technology, helping them manage their business end-to-end and to make it more efficient to generate organic revenue, better customer experience and more profitability. Leveraging this in-house SaaS built, Ghost Kitchens has said that it plans to be profitable in the next 12-15 months by doubling down on its hero brands and new celebrity brand partnerships.  

Kamal Bansal, MD, Gujarat Venture Finance Limited said, “We have closely observed Ghost Kitchens’ journey for over three quarters before partnering with them. Their execution is focused and frugal with a clear path of profitability. We were particularly excited about repeat customers of their brands and the in-house tech that they have which helps to optimise the aggregator algorithm better for organic growth. We are looking forward to launch of celebrity brands as well. We are looking forward to what the future has for Ghost Kitchens in terms of growing a profitable sustainable business”.

Founded in 2019, Ghost Kitchens India operates through more than 15 company owned and operated cloud kitchens in Mumbai and Ahmedabad, and 1200 internet restaurants across 40 cities in India.