Gurgaon Based Comfort Food Brand Hoi Foods today has announced that it has raised $ 500 k in a Pre Series A led by 1Crowd and its investor community. The company plans to utilize funds for geographical expansion and building a more integrated food solution in the backend.
The recent round of funding also saw the participation of other investors including Gemba Capital and Prime Holdings. Hoi Foods is a Food Brand which solves the in-room dining problem of Budget Hotels and promises convenient, reliable comfort for in-house guests and outside consumers.
The startup was founded in 2017 by Indrajeet Roy, with seed fund ofSanjivMediratta, a renowned f&b expert, SandeepKohli, Ex MD Yum Foods Asia Pacific and Pawan Raj Kumar, founder Supa Star Foods and active angel investor. Pawan&Sanjiv will join the board.
Indrajeet Roy, CEO, Hoi Foods, said “Hoi Foods can be a food brand which can reach 100 cities in next 4-5 years. The biggest challenge of any food brand is geographical expansion and to be present in every location where there is demand. Hoi’s asset-light model ensures multiple distribution points across the city.”
Anil Gudibande, Co-founder of 1Crowd, said, “Hoi has a perfect combination of youth energy, strategic advisory, and F&B Subject Matter Expertise. Hoi Foods is bringing standardization in the comfort food segment on cuisines and promising a brand of taste, quality, consistency, variety, convenience and affordability to the budget hotels sector, which is currently completely unorganized and therefore carries huge potential.”
Hoi Foods is creating an F&B footprint in multiple locations with standardized service levels and infrastructure. The company has positioned itself as a comfort food brand which promises high-quality meals at budget prices from every pin code possible.
The company relies a lot on R&D on food processing and ensures a dedicated standardized process based food production to ensure the same taste and hygiene every time. Hoi Foods currently has Indian, Chinese and Continental dishes on their menu and covers a range of desserts and drinks as well.
Currently, the company is based out of Delhi/NCR and is looking to expand to different cities very soon.