Terra Food Co. Raises USD 800K in Pre-Series A Funding Round
Jul 28, 2023
VMPL
New Delhi [India], July 28: Terra Food Co. (TFC), a pioneering gourmet cloud kitchen company, has successfully raised USD 800,000 in its Pre-Series A funding round. The funding was secured from a group of esteemed investors, including Zero to One Fund, Twin & Bull Fund, ah! Ventures, and several other international angel investors. Existing investors like Lets Venture, Faad Network, and The Chennai Angels also participated in this round, demonstrating their continued confidence in TFC's growth and potential.
TFC, founded by visionary entrepreneur Sriram Nair, started its journey in Ahmedabad in 2019. The company's roots were established through Sriram Nair's café cum flagship store, Terra, which introduced Ahmedabad to the innovative farm-to-table concept in 2017. Building upon the success of Terra's dine-in restaurant, TFC ventured into the cloud kitchen space with the aim of providing niche and gourmet cuisine formats at affordable price points to underserved Tier 2 cities.
Sriram Nair added, “With a strong focus on Tier 2 markets, TFC has witnessed remarkable growth, currently processing an impressive monthly volume of 26,000 orders and generating a monthly recurring revenue of over INR 1 crore. Bolstered by this recent funding, TFC plans to double its revenue by November 2023, capitalizing on its existing kitchen facilities.”
This Pre-Series A funding round will empower TFC to fuel its business expansion, increase its brand portfolio, invest in innovative food technology and product development, and expand its talented team. The company is now gearing up for its Series A funding, expected to be completed by the end of the financial year, further bolstering its growth trajectory.
TFC operates as a multichannel food company, leveraging both online and offline platforms to cater to the rising aspirations and expendable income of consumers in Tier 2 cities. Its portfolio of brands, including Terra Gourmet, Sushito, Zeus Burger, Noodle Van, Aho Punjab, Pickup Meals, Jaani Maani Biryani, Papadum, and Hiit Meals, has been well-received in markets with limited gourmet cuisine options.
The company's future expansion plans include venturing into other Tier 2 cities like Baroda, Surat, Jodhpur, Indore, and Bhopal over the next two quarters. TFC aims to establish itself as a pioneer in accessible and convenient gourmet dining through unique pickup and cloud kitchen models, redefining how Indians order and enjoy food online.
As TFC continues on its mission to revolutionize the culinary landscape in India, investors remain optimistic about the company's potential and its ability to tap into the vast opportunities presented by Tier 2 markets with untapped potential for gourmet cuisines.
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