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Salad Days, a cloud kitchen startup has raised Rs 30 crore in its Series A funding round co-led by V3 Ventures and Client Associates Alternates Fund (CAAF).
The new funds will be used to support growth and expansion plans. The company also plans to improve its technology, train and grow its team and boost marketing and branding efforts.
It currently runs 25 kitchens in Delhi, Mumbai and Bengaluru. Some of the proceeds will be used to expand its reach in these cities by covering more areas, along with introducing new ideas and opening about 20 stores by the end of this year.
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Varun Madan, founder and CEO, Salad Days, said, "So, we would want to enhance our tech for better customer experience, which means launching our own platform shortly to offer new services like subscriptions. Our repeat ratios are high; a lot of our customers order very regularly from us and we also keep getting queries about subscriptions on a regular basis. It makes all the sense to launch such much-needed offerings and more for customer delight."
Shivam Diwan, Executive Director and Head of CAAF, said, "Salad Days is among our first few investments at CAAF, and it truly represents what we look for in an ideal investment—a customer-obsessed, mission-driven founder who has been able to create a category-defining brand, profitable, sustainable execution, and strong, scalable unit economics. All of this is in a consumer category which we think will only go from strength to strength with time."
About Salad Days
Founded in 2014 by Varun Madan, Gurugram-based Salad Days competes with cloud kitchens like Salad Studio, FreshMenu and WeFit. It currently has an annual revenue of Rs 60 crore and is profitable at the PAT level.
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