The embattled Rocket Internet-backed Foodpanda, which last year saw allegations of internal fraud and misappropriation of funds being levelled against its top management, is learnt to be in the process of raising fresh capital. The company recently mandated Mumbai-based mid-market investment bank o3 Capital for a $40-60 million fund-raise as it initiates talks with investors.
Bangalore-based food-tech startup Petoo, owned and operated by Kinematic Foodtech Pvt Ltd, has raised $500,000 from its existing investors and high-net-worth individuals (HNIs) through online deal-making platform LetsVenture. The funding will be utilized for ongoing food research initiatives and to roll out its new products across the country.
Bengaluru-based food company Mast Kalandar is in advanced talks to close a $10-million funding round. It had earlier raised investments from Footprint Ventures and Helion Venture Partners.
e-Grocery retailer Satvacart today said it is keen to raise another $2 million in current round of funding, in which a clutch of individuals, including Abhijit Avasthi, Karan Chellani and SP Vijay have already invested an undisclosed amount.
Gurgaon based Food-ordering startup Twigly has raised $600K from Bengaluru-based Tracxn Labs, Hyderabad Angels, Freecharge founder Kunal Shah and Flipkart vice-president (engineering) Gaurav Bhalotia, among others. The funding will be utilized to expand into new cities and build a food brand that will be made available in supermarkets and online platforms.