The company plans to utilize funds for geographical expansion and building a more integrated food solution in the backend.
Gurgaon-based Comfort Food Brand Hoi Foods has raised $500 k in a Pre Series A led by 1Crowd and its investor community. The company plans to utilize funds for geographical expansion and building a more integrated food solution in the backend.
The recent round of funding also saw the participation of other investors including Gemba Capital and Prime Holdings.
Indrajeet Roy, CEO, Hoi Foods, said, "Hoi Foods can be a food brand which can reach 100 cities in the next 4-5 years. The biggest challenge of any food brand is geographical expansion and to be present in every location where there is demand. Hoi’s asset-light model ensures multiple distribution points across the city."
Anil Gudibande, Co-founder of 1Crowd, said, "Hoi has a perfect combination of youth energy, strategic advisory, and F&B Subject Matter Expertise. Hoi Foods is bringing standardization in the comfort food segment on cuisines and promising a brand of taste, quality, consistency, variety, convenience and affordability to the budget hotels sector, which is currently completely unorganized and therefore carries huge potential."
Hoi Foods is creating an F&B footprint in multiple locations with standardized service levels and infrastructure. Currently, the company is based out of Delhi/NCR and is looking to expand to different cities very soon.