Terra Food Co. (TFC), a rising multi-channel food company, has successfully closed a $800,000 Pre-Series A funding round. The investment will fuel the company's expansion plans and solidify its position as a leader in gourmet food experiences across Tier 2 cities in India.
Distinguished Investor Backing
The funding round attracted a prominent group of investors, including Zero to One Fund, Twin & Bull Fund, ah!Ventures, Bestvantage Investments, and several international angel investors. Notably, existing investors Lets Venture and Faad Network reaffirmed their confidence in TFC's disruptive approach by participating again.
From Flagship Store to Multi-Channel Powerhouse
Founded in 2019 by visionary entrepreneur Sriram Nair, TFC's roots lie in its Ahmedabad flagship store, "Terra," which introduced the city to the farm-to-table concept in 2017. Building on this success, TFC expanded into cloud kitchens,delivering gourmet cuisine at accessible price points to underserved Tier 2 markets.
Commenting on the funding, Sriram Nair, Founder & CEO of TFC, said: "We've experienced remarkable growth in Tier 2 markets, showcasing a strong demand for high-quality food experiences. We've secured partnerships with premium institutions like IIM and IIT, opened Papadum & Zeus Burger restaurants, and are launching a revamped QSR model for our flagship brand Terra by August 24th. This combination of cloud kitchens and QSRs offers the perfect recipe for a scalable food business. By capitalising on our existing infrastructure and new dine-in stores, we project to double revenue by November 2024."
Fueling Growth and Innovation
The Pre-Series A funds will empower TFC to:
Expand its brand portfolio
Invest in innovative food technology and product development
Strengthen its talented team
The company is already gearing up for its Series A funding round, aimed at further accelerating its growth trajectory by the end of FY 24-25.
Catering to Tier 2 Aspirations
TFC operates as a multi-channel food company, offering both online and offline options to meet the rising aspirations and disposable income of Tier 2 city consumers. Its diverse portfolio, including Terra Gourmet, Sushito, Zeus Burger, and more, caters to markets with limited gourmet options.
Looking Forward: Redefining the Food Experience
TFC plans to expand into Baroda, Surat, Jodhpur, Indore, and Bhopal over the next year. By leveraging QSR and cloud kitchen models, the company aims to become a leader in accessible gourmet dining and redefine how Indians order and enjoy food online. As TFC continues its mission to revolutionise the Indian culinary landscape, investors remain optimistic about its ability to unlock the vast potential of Tier 2 markets.
Key Highlights
Funding Amount: $800,000 (extended round)
Key Investors: Zero to One Fund, Twin & Bull Fund, ah! Ventures, international angel investors, Lets Venture, Faad Network
Bestvantage Role: Major role in securing and facilitating the extended funding round
Founded: 2019 by Sriram Nair
Monthly Orders: 26,000
Monthly Recurring Revenue: Over INR 1 crore
Expansion Plans: Baroda, Surat, Jodhpur, Indore, Bhopal
Brand Portfolio: Terra Gourmet, Sushito, Zeus Burger, Noodle Van, Pickup Meals, Jaani Maani Biryani, Papadum
A key player in this successful funding round was Bestvantage Investments, a firm known for its strategic investment initiatives and support for innovative startups. Bestvantage's involvement was instrumental in connecting TFC with a network of influential investors and providing invaluable guidance throughout the funding process. This collaboration underscores Bestvantage's commitment to fostering growth and innovation in the food tech sector. Stay tuned for more updates on Terra Food Co. and its journey towards redefining gourmet dining in India! For more exciting investment opportunities Bestvantage facilitates, visit www.bestvantageinvestments.com or reach out directly at raman@bestvantageinvestments.com.
Very insightful blog, Congrats to Terra Foods team.