WarmOven, a delivery-based fresh cakes and desserts brand in Bengaluru, announced that it has raised its first investment round led by Jyoti Bansal, Founder of AppDynamics, according to an ETtech report.
Other angel investors that took part in the funding round include Anuj Srivastava, co-founder of Livspace, Abhishek Goyal, founder of Tracxn, Nitin Gupta, former CEO of Ola Financial Services and Harpreet Grover and Vibhore Goyal, co-founders at CoCubes.
The company will utilise the current financing to expand to new geographies. It has plans to scale technology, expand to other cities starting with Pune and Hyderabad, and also enter new categories in the desserts and snacking space.
“As the industry goes through a cycle of disruption powered by digitization and delivery, there is a tremendous opportunity to create pan-India brands in multiple categories now more than ever,” said Gautam Balijepalli, CEO of WarmOven. “Our brands are available online for consumers in every 5km radius and we leverage the distribution capabilities of Swiggy, Zomato, Dunzo, and Amazon,” he said.
“I am excited to be part of this journey to create national food brands across India.. (and) look forward to working with the team and helping them scale the business across the country and categories,” said Jyoti Bansal, who previously sold his venture AppDynamics to Cisco for $3.7 billion. Bansal is currently the founder of Harness, an enterprise technology startup.
Kouzina Food Tech, which runs the WarmOven brand, was founded by Gautam Balijepalli, Mahesh Madiyala, Sumit Gupta, and Rohan Rao.
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