New Delhi, May 12 -- Dil Foods, a virtual restaurant platform focussed on small and mid-sized food businesses, has raised Rs 72 crore ($7.5 million) in a Series B funding round led by Bikaji Foods Family Office, with participation from international investors.
Existing investors V3 Ventures, MJV Ventures and Alteria Capital also participated.
With the latest fundraise, the company has raised a total of Rs 113.35 crore to date, including its earlier seed and Series A rounds.
Founded by Arpita Aditi, Karnataka-based Dil Foods works with local restaurants to help them scale through technology, standardized operations and supply chain support.
Dil Foods operates multiple regional food brands and currently has a network of more than 200 restaurant partners across six cities and 340 pincodes.
The company will use the fresh capital to expand into additional high-growth markets, diversify its cuisine portfolio, and strengthen its food-tech and supply chain capabilities, it said. Dil Foods also plans to scale to 600 locations by FY28 and target an annualized revenue of Rs 500 crore.
"Dil Foods has always been built on the idea of creating a sustainable ecosystem in the food industry. This funding will help us double down on that belief and capture a larger share of the consumer's plate," Aditi said, adding that a part of the funding will be used to strengthen backend production and supply chain operations.
Dil Foods claims to be India's largest chain of virtual brands specializing in regional Indian cuisine. It gained early visibility after appearing on Shark Tank India, where it secured funding from Vineeta Singh, Radhika Gupta, Ritesh Agarwal and Piyush Bansal.
Published by HT Digital Content Services with permission from VC Circle.