Existing investors including venture capital firms Sequoia Capital and Lightbox Ventures also participated in this round.
Founded in 2004 by Jaydeep Barman and Kallol Banerjee, Faasos, was the first company to take orders via tweets. It is a ‘food on demand’ company primarily disrupting how people order and get food delivered on mobile.
Mail sent to Jaydeep, did not elicited any response.
The company is targeting to clock over 1 Mn orders per day over the next six months, up from current 350,000 orders a day. Faasos is currently operational in 15 cities across India including Pune, Mumbai, Bangalore, Ahmedabad, Chennai and Vadodara among others. It has more than 160 distribution centres.
The startup will utilise the funds for acquisitions and to begin operations in newer cities, these include Kolkata, Chandigarh, Dehradun among others. Besides, it will also use the funds to expand the range of its in-house brands and launch new services such as Faasos Daily, a new mobile application for time-slotted food deliveries.