Bite Club, a Gurgaon-based online marketplace for chefs, has raised an undisclosed amount in a new round of funding led by growX Ventures, along with the participation of Phoenix Fund and Powai Lake Ventures.
The company will utilize the money raised in this round to expand its reach across the Delhi-NCR region and to also to extend its product line up.
Bite Club co-founder and chief executive Prateek Agarwal said –
We will also bring out high-shelflife food items, made by home chefs or professional chefs, such as dips, hummus, pickles and year.
Bite Club enables people to order meal from a dynamic changing menu through its Android app. The food is prepared by aggregated people like home chefs, amateur chefs and professional chefs. The company has a network of 180 chefs from whom it sources food and sells through a daily rotating menu of 40 items.
It claims to have already served more than 1,00,000 meals within one year of its inception. It states that it is currently delivering almost 1,000 meals a day.
Commenting on this fresh round of funding, Prateek Agarwal, CEO and Founder, Bite Club said,
At Bite Club, we are chasing a vision of replacing home cooking. We have had a fabulous first year of operations and recently hit the milestone of serving 1,00,000 meals in the city. We’re blessed to have some of the best home-chefs on our platform relentlessly working to delight our consumers with wholesome meals every day of the week.
Earlier this year, the company had raised $500,000 in seed funding from Powai Lake Ventures with other angels including Aneesh Reddy, Ashish Kashyap and Alok Mittal.
This is the first investment in the space of food delivery startups for gorwX Ventures. The firm typically invests Rs. 3 crore in companies with a five-seven year investment horizon.
Ashish Taneja, MD of growX Ventures, a seed fund, said,
We are excited to be investing in Bite Club. We believe in the company’s vision to make incredible home cooked food accessible to everyone. It’s a truly unique business model with a strong focus on providing wholesome meals at great value. I am a huge fan of Bite Club and have been averaging 3-4 meals a week for months now. With the current round of funding, we looking to go deeper into the current market, improving efficiency, building a strong platform for growth and introducing newer products.
While Zomato and TinyOwl continue to remain major players, Bite Club’s major competitor could be the likes of HolaChef, which recently raised $3.1 million from Kalaari Capital and then an undisclosed amount of funding from Ratan Tata.