* The Internet first Kitchen entity has raised $5.3mn USD
* The Seed funding round is led by Times of India Group’s, Brand Capital
TTSF Cloud One, an Internet First Multi Brand Cloud Kitchen entity co-founded by the creators of India’s 1st premium Thickshake brand, The ThickShake Factory, today announced that it has raised $5.3 million in a Seed Funding round led by Brand Capital - the strategic investment arm of Bennett Coleman & Co Ltd. (BCCL) of The Times of India Group. Previous investments of BCCL include Flipkart, Byju’s, BigBasket, Thyrocare, Dunzo & Rebel Foods.
TTSF Cloud One plans to extend its reach to scale up tech infrastructure & brand building.
Yeshwanth Nag Mocherla, Co-Founder, TTSF Cloud One said, “The Indian food tech space is at the cusp of disruption right now with largely unorganized brands operating in the market. We are now aiming to create, license, acquire & operate several brands using our technology stack which will enable our eco-system brands to rapidly scale like never before & consolidate some categories. We believe with economies of scale, it is very much possible to build an extremely interesting play within a short period of time. We understand what it takes to scale a food brand across multiple cities and countries via our experience with The Thickshake Factory having built 125 physical stores in India & the US across 25+ cities over the last 8 years, being bootstrapped & profitable. We are aiming to operationalize 50 cloud kitchens, operating at-least 350 Internet restaurants by the financial year end.”
Ashwin Mocherla, Co- founder, TTSF Cloud One commented that, “We are extremely thrilled to welcome BCCL, The Times of India group on this journey and are looking forward to create a strong portfolio of brands which will stand out with great fundamentals intact – serving great quality, tasty and affordable food to the people of India. We want to tap into the opportunity of making Food service brands operate like FMCG brands creating scale at a level which wasn’t possible previously. Now, due to Digitalization of India, post COVID and a mature E-commerce ecosystem in place even in the food sector, it is possible.”
TTSF Cloud One’s focus will be on usage of technology, creation of its own brands as well as brand acquisitions and expanding its footprint across tier 1 and tier 2 cities in India.