Inflection Point Ventures, an early stage angel investing platform, announced that it has invested an undisclosed amount of funding in snacking startup Samosa Party, according to a YourStory report.
The company will utilise the current financing to scale, and open cloud kitchens across Bengaluru and other Tier-I cities. Samosa Party said it will also use funds to improve its production technology.
“In a post-COVID world of increasing focus on hygiene standards, startups like Samosa Party will be relevant as customers would trust hygienic and professional managed brands to serve them food with safety being the guiding force from kitchen to table,” Ankur Mittal, Co-founder, Inflection Point Ventures, said.
Founded by Amit Nanwani in 2017, Samosa Party claims to have become the go-to snack solution in Bengaluru for personal consumption, and groups and gatherings alike, with more than 80 percent repeat customers.
Amit Nanwani, Co-founder of Samosa Party said, “We have been running a profitable business and this funding round further strengthens my belief that good business models that can stand tall during downturns will have no shortage of funds with credible investors like IPV backing us.”
IPV has invested in sectors like healthtech, edtech, delivery, online grocery and social distancing tech, and has helped them scale up and eventually create a large-scale impact for helping people in managing the coronavirus situation.
“Samosa Party continued to see business growth even during the lockdown, and we want to back such companies. IPV investors are totally behind the startup’s vision of elevating the humble Indian Samosa and taking it to the world..,” Ankur added.
Inflection Point Ventures was started in 2018 with the aim of driving exponential value creation by being India’s most accessible & efficient network connecting a diverse investor community with a carefully set of curated startups.
Recently, the firm invested in grocery delivery startup Milkbasket, citizen safety-tech platform DROR, and early-stage edtech startup Edvizo.
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