Sattviko, the health food restaurant chain, has acquired Call A Meal, a Jaipur-based food delivery startup, for an undisclosed amount.
As part of the deal, Kartik Singhal, founder of Call A Meal, will join the core team at Sattviko to help scale up its delivery business.
According to Prasoon Gupta, co-founder and CEO of Delhi-based Sattviko, the acquisition will help them further strengthen the company’s delivery service, making it a key business vertical than just a secondary business.
With the acquisition, Sattviko also gains access to Call A Meal’s customer base who will now be targeted under the company brand name.
Aiming to redefine the healthy dining sector, Prasoon Gupta and Ankush Sharma had founded Sattviko in 2014. The company already has four dining restaurants in Delhi. It now plans to expand into the fine dining space by opening up restaurants serving modern vegetarian cuisine. Sattviko is targeting Jaipur as its next destination. By next year, it plans to open five more outlets and gradually enter the Mumbai and Bangalore markets.
The startup has also taken on board celebrity chef Bhakti Arora, of Master-Chef India fame, as its corporate executive chef.
In February this year, Sattviko had raised around $300K (INR 2 Cr) from angel investors Sumit Jain, co-founder of CommonFloor.com, Rajat Jain, Managing Director of Xerox India and Sanjay Bhasin, Vice President of Samsung’s Network Business.
The company is now looking to raise $4 Mn Series A funding, which it hopes to close by March, 2016. Thereafter it plans to expand to Dubai, London and Europe.
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