Pune-based online food delivery startup\u00a0Faasos\u00a0has filled its plate with\u00a0$6.4 Mn funding\u00a0in an extended Series C round of funding, as per the filings made with the Registrar of Companies. The investment is led by\u00a0Lightbox Ventures II, Lightbox Expansion Fund,\u00a0Sequoia Capital India,\u00a0RuNet South Asia,\u00a0and\u00a0RB Investments.\r\n\r\nEarlier in December 2015, Faasos\u00a0raised\u00a0the\u00a0first tranche of the Series C, amounting to $30 Mn. So far, the company has\u00a0raised a total of $64.6 Mn\u00a0in six rounds of funding.\r\n\r\nThe company denied commenting on the development when approached by\u00a0Inc42\u00a0team.\r\n\r\nFounded in 2004 by\u00a0Jaydeep Barman\u00a0and\u00a0Kallol Banerjee,\u00a0Faasos was the first company to\u00a0take orders\u00a0via tweets as part of a campaign. As\u00a0stated\u00a0by Jaydeep in an earlier interaction with Inc42, \u201cBecause, we built a full-stack platform to cater to this need (sourcing, producing, delivering the food ourselves), we became the first and probably the only vertically integrated food-tech business in the country at scale. People look at us and realise \u201cfoodtech\u00a0is after all about food and not delivering food.\u2019\u201d\r\n\r\nSince its launch,\u00a0Faasos has pivoted its business model four times. It started as a QSR chain, then switched to a dark kitchen model - which means there were no storefronts - then came the marketplace and finally the multi-brand cloud kitchen model. In this model, Faasos set up a central kitchen and establishes multiple brands with their own specialities. For instance, \u00a0at\u00a0present\u00a0the app showcases menu from in-house brands like Behrouz (famous for Biryani), Oven Story, (for Pizzas), and Kettle & Kegs (the tea and snacks bar). The aim is to offer\u00a0variety\u00a0of food products at a premium price, and as the delivery is also\u00a0inhouse, Faasos gets the 100% margin.\r\n\r\nIn FY15, it\u00a0clocked\u00a0a loss of $3.78 Mn (INR 24.4 Cr), while for the year ending March 2016, it generated a loss of $17.2 Mn (INR 111.1 Cr) - almost four times the previous year. As\u00a0told\u00a0by Jaydeep to TechCircle, \u201cFY16 was a breakthrough year in terms of expansion, but the cost of expansion precluded the revenue benefits accrued. However, it has borne fruit in FY17, with the same cost base delivering over 60% growth in revenue.\u201d\r\n\r\nAs of November 2016, the company used to serve around 15,000 customers every day. For them, mobile accounts for 85% whereas\u00a0web\u00a0is 15%. Even in web orders, 50% of the volume comes from mobile devices, as stated by Jaydeep, who is also an investor in Pune-based personalised food recommendation app\u00a0Quinto.\r\n\r\nFaasos currently competes with other QSR chains like McDonald\u2019s, Pizza Hut, Dominos, Box8,\u00a0Eatlo, FreshMenu, and\u00a0Frsh. Recently,\u00a0Zomato\u00a0and\u00a0Swiggy\u00a0have also entered in the cloud kitchen space. Plus, with\u00a0UberEATS\u00a0and\u00a0Google\u00a0Areo\u00a0(which is testing the waters in both the hyperlocal and food delivery space) also looking to entice the Indian consumer, how Faasos handles the heat remains to be seen.