Auntie Fung’s, a quick service restaurant (QSR) startup, has raised Rs.3.35 billion, or $ 454,000, in a fishing round led by the Indian Angel Network (IAN). The group was led by angel investors Anjali Malhotra, Ajay Rajgarhia and Nitin Jain. Lead Angels, LetsVentures and Chandigarh Angels also participated.
According to the Bengaluru-based company, most of the newly raised capital will be used to open its new cloud kitchens. The rest is used to build back-end skills around the supply chain and technology, hire new talent, and build brand awareness.
Read more IAN conducts the fishing round in the QSR startup Tante Fung’s at Trickypedia.