Bengaluru-based foodtech startup 48East, has raised $500K in Pre Series A funding from UAE-based Al Dhaheri family.
The startup will use the newly raised investment for setting up new kitchens, enhancing logistics, ramping up technology and marketing.
Investor, Saeed Sultan Rashed Al Dhaher said, “48East has demonstrated impressive growth within a short period of time. The company, with its dynamic ideas and experience rich team, has the potential to capture an increasing share in this category. I look forward to being a partner to them as they continue to provide exceptional culinary experiences to their customers.”
Founded in August 2016 by Joseph Cherian and Nabhojit Ghosh, 48East delivers Asian gourmet food and offers food from 48 different countries across the Asian continent.
Nabhojit has an experience of over 30 years in leading hotel chains, private equity firm and a food tech brand in India. His previous experiences include stints at Oberoi Hotels, Radisson and Taj Hotels. On the other hand, Joseph Cherian, an alumnus of Harvard Business School, has over 20 years of experience in managing global markets, setting up and scaling new business verticals. He has worked with brands like Papa John’s India and Mcdonalds.
With a weekly changing menu, 48East offers dishes from Uzbekistan, Lebanon, Turkey, India, Thailand, Laos, Indonesia, Japan, etc. Currently it only operates two kitchens in Bengaluru and claims to process over 100 orders a day.
Earlier in August 2016, 48East had raised 250K USD in a round of angel funding from Agra based ACPL exports.
Last month Tamil Nadu-based foodtech startup NativeSpecial raised an undisclosed amount of funding from Indian Angel Network, and Madurai-based Native Angels Network. Other startups in this segment include Innerchef, Yumlane, Sattviko, Tpot, etc.