Signal Hill is pleased to announce that its client, Food Vista India Pvt. Ltd. which owns and operates FreshMenu.com, the leading “full-stack” internet restaurant, has raised a INR 1.1 billion ($17 million) Series B round led by Zodius Technology Fund, with participation from existing investor Lightspeed Venture Partners.
Through its full-stack model, the company controls the entire customer experience from online/mobile ordering, to great fresh food preparation and timely delivery. In a sector that has seen significant shake out in 2015, Freshmenu’s product market fit, stellar growth and margin profile made the Company break-out from the pack; and this significant Series B funding round will enable the Company to continue its rapid growth trajectory.
The food delivery sector is expected to be a $50 billion market by 2020 and there is a strong case to build a national mobile/online-first food tech company in India. Freshmenu will use funds from this round to expand operations across the top six cities in India, and further its investments in brand building, tech and people.*
*Signal Hill is a legacy firm of DC Advisory US. Find out more >