Investors line up for cloud kitchens, online food delivery brands
Ganesh was an early supporter of companies such as BigBasket, an online grocery retailer, and Homelane, a home decor retailer
Hygiene BigBite, a cloud kitchen financed by Serial Entrepreneur K Ganesh, has raised USD 15 million from Falcon Edge, as per the statement given by two people familiar with the expansion, due to increased investor interest in the sector.
Rebel Foods is among the largest cloud kitchens in India; it became a unicorn as it raised USD 175 million in its latest round at a USD 1.4-billion valuation last week.
Hygiene Ganesh's entrepreneurship platform GrowthStory was founded in 2013, and BigBite is a component of it. Ganesh was an early supporter of companies such as BigBasket, an online grocery retailer, and Homelane, a home decor retailer.
Kiran Prasad began Hygiene BigBite in 2016 as a business-to-business (B2B) delivery service called BikeNinja. In 2017, Hygiene BigBite transitioned to a multi-brand cloud kitchen concept. It presently operates 50 kitchens under ten names such as Gunpowder and Biryani Trip. According to Prasad, the company is nearing completion on at least one acquisition and plans to add five more companies in the near future.
Cloud kitchens are facilities set up for the preparation of delivery-only meals. As restaurant dining took a severe hit due to the pandemic, the cloud kitchen industry significantly boosted.
