Description
Auntie Fung‘s aims to deliver Asian Food to each home at affordable prices through their cloud kitchens setup across Bangalore and Gurugram.
India seems to lack Asian Street Food at an affordable price, and Auntie Fung is here to bridge the gap with its multi-brand and multi-channel approach. The company has three brands – Auntie Fung‘s, Crazy Bao, and Hungry Panda. They have two physical Dine Ins in Bangalore and due to the pandemic, it pivoted to the cloud kitchen model, where they now deliver various Asian Street food via Zomato, Swiggy, and others.
The company has 8 kitchens, 4 are omnichannel and 3 are only for Delivery. 2 of the cloud kitchens are in Bangalore and 1 in Gurugram. The company has a monthly run rate of ~43 lacs. The month on month growth is at 150% of pre-covid and the delivery business is up 300% of pre-covid.
The target audiences are Millennial early jobbers & young families with value offering (meal for two at ~Rs.500). Approx. 11,000 customers serviced in Nov’20 with a 25-30% repeat rate.
Details of the round
The Pre-Money Valuation is 12.5 Cr.
The company is looking to raise INR 3 Cr using CCPS and has already received a commitment of INR 2 Cr from the India Angel Network
The company is looking to raise 1 cr from Lead Angels Network. The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
