Foodlink has raised $8 million to give a big push to its luxury catering business. The fund is a Series B fundraising round led by Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP. The company aims to use the funds to widen its market footprint in luxury catering business in newer markets in world wide. This include expanding its luxury banquet brand, JADE Luxury Banquets, to more cities in India, and to scale its casual dining restaurant business through its brands, India Bistro, China Bistro, and Art of Dum.
Sanjay Vazirani, founder of Foodlink said “Our current revenue run rate for FY22 is INR 100 crore and we expect it to be around INR 300 crore by the end of FY23-24. Foodlink plans to leverage technology in a big way to support its growth across geographies. We have come a long way in organizing an otherwise fragmented industry, and we plan to take our management of sales pipeline, quality audits, infrastructure management & resource allocation to the next level of maturity post this round of funding. We are delighted to have Plutus on board and backing us for this next exciting phase of the Foodlink journey along with OAKS Asset Management who has been a valuable partner over the last few years”.
Foodlink has raised a total of US$ 23 million which include US$ 15 million from OAKS Asset Management as part of its Series A investment.
Foodlink gives his uber-luxury indian wedding market play a big push with new investments
“Foodlink is an exceptional business that offers a unique way to invest in the uber-luxury Indian wedding market. Weddings in India are a recession-proof business and the increased focus on high quality, hygienic food and formally organised vendors will strengthen Foodlink immensely,” said Arpit Khandelwal, Managing Partner at Plutus Wealth Management.
