Page 38 - Newsletter-Hotel & Hospitality industry

Amicus Capital invests

t Rs70 crore in Wonderchef

Private equity firm Amicus Capital has understands our category and shares our
h invested about ₹70 crore for a 10 pecent stake vision as we embark on our next phase of

in kitchen appliances and cookware brand aggressive growth,” said Ravi Saxena, MD,
g Wonderchef, founded by industry veteran Wonderchef.

Ravi Saxena and celebrity chef Sanjeev WonderChef is present across the country
i Kapoor. through multiple channels including exclusive
s Wonderchef plans to use the funds for outlets, 735 department stores, over 7,000

expansion that will help the company traditional stores, direct marketing network of
n increase its sales to ₹600 crore over the next 50,000 women entrepreneurs, as well as on
its own retail website.
five years.
I “Wonderchef has demonstrated industry- The company plans to expand its retail
leading growth in the past five years to distribution reach integrated manufacturing,
s emerge as a top player in the cookware and assembly and warehousing facility, besides

kitchen-appliance category. Amicus Capital adding new product lines and segments.
s

e Swiggy raises $210 million

Online food delivery start-up Swiggy said in a statement.
n announced it had raised $210 million in a While Swiggy and Zomato are dominating this
Series G funding led by existing investor market, “Uber Eats and Ola-owned
i
Naspers and new investor DST Global. The Foodpanda would also take the slice of this
s round will also see participation from existing pie when they scale up,” said Ujjwal
shareholder Meituan-Dianping and new Chaudhry, engagement manager at the
u investor Coatue Management. RedSeer Consulting.
The latest investment follows a $100 million

B Series F round in February, also led by '$4 bn market in 2020'
Naspers with participation of China's
The online food delivery market in India which
Meituan-Dianping. was $0.3 billion in 2016 is expected to touch
a Swiggy said the latest round would enable it to $4 billion in 2020, according to RedSeer.

quickly ramp up its supply chain network and
Swiggy was founded by Birla Institute of
expand to new markets. The start-up would Technology & Science Pilani alumni
i invest in core capabilities that enhance
Sriharsha Majety and Nandan Reddy, and
d consumer experience and the brand. The Indian Institute of Technology Kharagpur
company said it would also double its
graduate Rahul Jaimini in 2014.
technology headcount to build for robust “Swiggy is transforming the way food is
n operations, deep personalisation and delivered in India,” said Saurabh Gupta,

connected supply chain systems.
I Managing Partner at DST Global, in a
“We will continue to widen Swiggy's offerings, statement.
along with bolstering our capabilities and
The company said that it has observed a
plugging the gaps in the on-demand delivery
three-fold increase in revenues in the last
ecosystem,” Sriharsha Majety, CEO, Swiggy,
financial year. It said this “rapid growth” was