Bengaluru-based FreshMenu, a food delivery startup, could be getting ready to raise new funding worth up to $75 million.
The startup, which provides customers with an online platform via which they can order food, currently has grown to 36 locations for its kitchens since its founding in 2014.
“About seven-eight funds have evinced interest and non-disclosure agreements have been signed with them as the discussions are in preliminary stages,” a source aware of the possible funding said, as reported by Economic Times.
The company previously raised a $17 million Series B funding round two years ago, in 2016. The potential funding, which would be raised from private equity funds, would be used for geographical expansion plans and is being looked over by capital marketing company, Kotak Mahindra Capital.
The company has future plans to expand to 300 locations, into a variety of areas throughout India include Pune, Bengaluru, Delhi-NCR, Hyderabad, Mumbai and Gurugram.
Founded by Rashmi Daga, the startup’s current investors include Lightspeed Ventures and Zodius Capital. According to the source as reported by ET, potential investors in the round include TPG, General Atlantic, Temasek Holdings and Kedaara Capital.
(Picture courtesy: https://www.youtube.com/)
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