Faasos is also one of the food startups with the most funds. The company, founded in 2011 by two friends, Jaydeep Barman, and Kallol Banerjee, had the venture capital firm Sequoia Capital as its first investor and has raised about $ 54 million from four investors, including Lightbox Ventures and the Russian firm RuNet. Until now.
The company, which sold its own car brands from its own kitchens in about 15 odd cities, opted for a modernization of its business model in late 2015 in an attempt to become profitable and at the same time increase its revenues by keeping costs down.
The company changed its business model from an inventory based on strategic partnerships. The company interacted with several home-based chefs to expand their menu and also improve their delivery time. The company has also linked independent food unions, restaurant chains, and independent caterers to increase their income without investing heavily in the creation of their own kitchens. Meanwhile, another start-up Holachef based in Mumbai, which began its link with home chefs, has changed its model to have a standardized menu that is served to customers of the company's central kitchen.
Today, one can order delicious Daily Specials in 9 cities of India: Gurgaon, Bangalore, Pune, Mumbai, Chennai, Indore, Ahmedabad, Baroda, and Hyderabad. Very soon we will be there in every corner of the nation.
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