Food Startup 48East Raises $5,00,000 Pre Series Funding
MUMBAI: Bengaluru-based food startup 48East, which delivers fine Asian gourmet food, today said it has raised USD 5,00,000 in Pre Series A funding from Al Dhaheri family based in UAE.
The investment will be used towards unit expansion, enhancing logistics, ramping up technology and marketing, the company said in a release here.
Founded in August 2016 by Joseph Cherian and Nabhojit Ghosh, 48East has five decades of culinary expertise across Quick service restaurants (QSR) management, food manufacturing and curated gourmet food.
In August 2016, 48East had raised USD 2,50,000 in a round of angel funding from Agra-based ACPL exports.
ACPL Exports is a silver jewelry exporting company.
48East Founder and CEO Cherian said, "We strive to provide the best of Asian gourmet food at an affordable price to our consumers. As a result, we are experiencing increasing demand and this new round of funding will enable us to setup more kitchens to expand our delivery area".
The company currently operates two kitchens in Indiranagar and Marathahalli and processes over 100 orders a day.
48 East is planning to expand to more areas across Bangalore in the coming months.
Saeed Sultan Rashed Al Dhaheri from Al Dhaheri family said, "48East has demonstrated impressive growth within a short period of time. The company, with its dynamic ideas and experience rich team, has the potential to capture an increasing share in this category.
"I look forward to being a partner to them as they continue to provide exceptional culinary experiences to their customers."