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Samosa Party raises undisclosed sum in Pre-Series A from Inflection Point
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Tuesday, 30 June, 2020, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Inflection Point Ventures, one of India’s most active angel platform, has invested an undisclosed amount in snacking startup Samosa Party.
The startup intends to utilise these funds to set up the infrastructure for scale, open cloud kitchens across Bangalore and other tier 1 cities. Also, they look forward to improving their unique production technology, and at present, claim to run the leanest and the most productive cloud kitchen at Rs 8,000 per sq ft.
The company commenced its operations with an objective to make good quality samosa accessible to customers across all channels in a hygienic and trustworthy environment. It operates by solving the supply side problem with the production and consumption of samosa at scale using technology.
With best customer repeat rate and hitting revenue targets even amid lockdown, the company has scaled to serving 1.5 lakh samosas per month. It combines the traditional cooking processes to solve the problems of scale using food technology and production innovation at every stage. With a robust technology first mindset and extreme focus on customer experience, the brand sees a very healthy unit economics.
"We appreciate the digital first approach of IPV for pitch and all further discussions. It was fast and efficient and we were guided by industry veterans. They understood our vision and took the time to help us articulate it further. We have been running a profitable business and this funding round further strengthens my belief that good business models that can stand tall during downturns will have no shortage of funds with credible investors like IPV backing us,” said Amit Nanwani, co-founder of Samosa Party.
“IPV is thrilled to be joining hands with Samosa Party and back their growth journey. Samosa Party has grown tremendously over the past couple of years and has risen to amongst the top brands for Indian snack food in Bangalore. In a post-Covid world of increasing focus on hygiene standards, startups like Samosa Party will be relevant as customers would trust hygienic and professional managed brands to serve them food with safety being the guiding force from kitchen to table,” noted Ankur Mittal, co-founder, Inflection Point Ventures.
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