Authenticook is a Mumbai – based food tech startup. The startup had announced on 28/06/2017 (Wednesday) that it has secured a fund of Rs. 1.45 crores in Pre – Series round of funding from Booking.com. The startup plans to use the funds to expand its presence to over forty cities in India by the end of 2018. Read more on Investments
“We are present in nine cities now and expect to increase this to 35 – 40 by the end of 2018”, the startup’s co-founder, Ameya Deshpande said.
Mrs. Deshpande said that the startup will break even in 2019 and will look for Series A round of funding in 2018. Authenticook helps people eat traditional home food with local families in the cities and villages in India by means of mobile app booking. Apart from expanding its presence in cities in India, Authenticook will use a portion of the funding to improve its marketing, create operations teams and improve its technology.
“We saw in Authenticook a truly great idea, smart business acumen and the ability to promote inclusive growth in Indian tourism that supports and develops local economies and communities”, Booking.com’s country head, Vikas Bhola said in a statement.
Food-tech startups in India have been regaining popularity in the past six months despite several of them shutting down between June and December 2016. The food tech startups that got funded this year (2017) include Wegan Foods which secured an undisclosed amount of Seed funding from the UAE princess, Sheikha Arwa Al Qassimi, during June this year. The food tech startup Wow! Momo secured Rs. 50 crores in Series B round of funding from a clutch of angel investors from the US, UK and Dubai during April this year. The food tech startup, Ketchupp had raised Rs. 3 crores in Series A round of funding from the VC firm, India Quotients and a clutch of angel investors during January this year. The food tech startup, EazyDiner secured an undisclosed amount of seed funding from Yuvraj Singh’s VC firm, YouWeCan during June this year. The food delivery startup, Box8 secured Rs. 7 crores in Series B round of funding from the VC firm, Trifecta Capital during May this year just to name a few. Read more on Startup News