The brand announces to use the funds in the company’s upcoming expansion across Delhi NCR
MOPP Foods, a Gurugram-based cloud kitchens startup has recently raised an undisclosed amount of Seed funding from India Accelerator’s iAngel Network. Mentored by IA, MOPP plans to use the funds in the company’s upcoming expansion plan across Delhi NCR and add more brands to its portfolio.
Founded in 2019 by Gold Medalist MBA Geetika Anand Gupta and IIT alumni Gaurav Gupta, the company currently operates 3 cloud kitchens with 2 brands – Mad Over Parathas & Pakodas and Mealy. MOPP has reinvented the pakodas recipe to make them delivery friendly as they are less oily, do not become soggy and remain crispy on delivery.
The company is presently clocking more than 8000 monthly orders and envisions to cross 1 million monthly orders by 2026. Furthermore, the company is aggressively working on its expansion plan to launch 250 cloud kitchens across 30 cities by 2026.
The initial traction they obtained was impressive, and this funding round will go a long way in enabling them to continue innovating on their core product, launch new products, and deliver delightful food experiences that customers will keep coming back to,” said Hareesh Viriyala, a seasoned Angel Investor part of India Accelerator’s iAngel Network.
Speaking about the funding, Geetika Anand Gupta, Co-founder & CEO – MOPP Foods Pvt Ltd., said, “We are really excited to be associated with India Accelerator. This fund-raise will not only help us strengthen our existing brands but will also help us launch our third brand (Mad Over Curry) focusing and revolving around traditional and authentic Indian curries across Delhi NCR.”
The online food delivery segment is growing at a CAGR of 25 to 30 per cent and is expected to touch 300 million by 2024. Considering the market size, MOPP is focusing on strengthening its business model by creating innovative delivery-friendly products to a wider target audience.