The round also saw participation from Revant Bhate (former Rebel and founder of Mosaic Wellness) and Arjun Vaidya (Founder of Dr. Vaidyas).
The startup plans to use the raised capital to support its geographical expansion plans into new cities and empower emerging partner restaurants to flourish. It will also use the raised funding in data analytics and supply chain optimization to drive efficiency and enhance operations.
Arpita Aditi, CEO and Founder of Dil Foods expressed her excitement about the funding round, stating, “This investment is a testament to the tremendous potential of Dil Foods and our commitment to strengthen the business of small independent restaurants and other F&B players, who often struggle to achieve sustainability and financial viability. Limited resources, financial constraints and a shortage of specialized personnel, hinders their ability to utilize the potential of new-age business models to enhance their revenues. We aim to address the challenges independent restaurants face by providing a platform that helps them realize their additional revenue potential and increase their asset and resource utilization significantly. We anticipate robust growth in the coming months. This growth will be driven by our innovative product offerings, strategic partnerships, and relentless focus on customer satisfaction.”
Dil Foods said it aims to partner with small to medium independent food businesses and restaurants to curate a profitable brand that disrupts the meal market, leveraging a unique asset-light model for food delivery to drive efficiency and maximize profitability.
Rahul Maheshwari, partner at V3 ventures, said, “Smaller restaurants have faced difficulties in leveraging the potential of the cloud to grow their business, despite the rapid expansion of the online food delivery market. We are excited to partner with Dil Foods team- who are dedicated to developing virtual brands and empowering small restaurants to tap into the online food delivery industry. By utilizing Dil Foods’ central kitchen, these restaurants can maintain the exceptional taste and quality of their food.”
Mohammed Ali Shariff, partner at Mount Judi Ventures, said, “In a short span of 1 year and with minimal investment, Dil Foods has seen explosive growth with 6 brands and 40+ partner kitchens in one city alone. With its hugely disruptive asset-light model, we believe that Dil Foods is poised to become a category defining player in the virtual cloud kitchen space. We are excited to partner with Arpita and support her vision of making the restaurant business viable and a win-win for all.”