Bengaluru Based Food Tech StartUp, 48East Raises $500K in Pre-Series A Funding
Food tech start-up 48East has raised $500k in pre-Series A funding from UAE-based Al Dhaheri family. The newly raised funds will be used to set up new kitchens, enhancing logistics, ramping up technology and marketing.
Founded by Joseph Cherian and Nabhojit Ghost in August of last year, 48East is a food tech company that delivers gourmet Asian food with food offers from 48 different countries across the Asian continent. They have a weekly changing menu that covers dishes from Uzbekistan, Lebanon, Turkey, Thailand, Laos, Indonesia, Japan and more. They have two kitchens in Bengaluru currently with over 100 orders a day.
Speaking about this investment, Saeed Sultan Rashed Al Dhaher told Inc42, “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.”
This isn’t the first round of funding for the Bengaluru-based company. In August 2016, they had raised $250k in a round of angel funding from Agra based ACPL exports. Earlier this year, Madurai-based NativeSpecial raised an undisclosed amount of funding from Indian Angel Network. So far, 2017 is looking to be a good year in terms of food tech startups of a different style, not just focusing on delivery services.