Foodtech startup, based in Mumbai, Thrive has secured an undisclosed Pre-Series A investment from Whiteboard Capital and Ahimsa Capital.
The firm plans to use the funds raised to augment its product offering and to add new restaurants to its platform. To make Thrive more accessible to restaurants that are small or independent, the startup will move to a self-serve model.
Krishi Fagwani, Co-founder of Thrive, stated – “We quickly understood the reality for our business and the industry we serve had changed. We immediately went back to the drawing board and spoke to our customers to understand how this new normal will shape up. Thrive is a restaurant-first solution that will not only allow them to survive the harsh reality of the pandemic but also thrive in it.”
Founded by Krishi Fagwani, Dhruv Dewan, and Karan Chechani, the startup has built an integrated SaaS solution to help restaurants form their own ordering experiences.
“We are proud of the team’s tireless focus through these difficult months on helping restaurants take control of their destiny. Now, more than ever, businesses need to improve margins, own their distribution and data. Thrive allows them to do this and more,” says Anish Malhotra, Founder at Ahimsa Capital.
The foodtech startup, launched by Hashtag Loyalty, is an all-in-one restaurant ordering platform for delivery, pickup and table ordering with marketing in-built. Hashtag Loyalty, a customer engagement platform, was also co-founded by Thrive’s founders prior to Thrive.
–AK
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