The acquisition is a part of Ghost Kitchens’ growth technique in Gujarat, it mentioned in a press release. Shy Tiger operates 5 multi-brand cloud kitchens in Ahmedabad and operates manufacturers like KBOB’s and The Black Chimney. Shy Tiger has an annualised income run fee (ARR) of Rs 5 crore, the assertion added.
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“We noticed this as a chance to scale these manufacturers and develop our presence into Ahmedabad and the Gujarat market. Furthermore, model affinity and buyer repeat ratio give us a robust place to construct up a enterprise. Other than plugging our manufacturers of their present kitchens, we might enhance the unit economics and get a considerable yield from every kitchen and your entire state,” mentioned Karan Tanna, founder and chief govt at Ghost Kitchens.
On February 22, Ghost Kitchens had raised $5 million in a mixture of debt and fairness funding, led by Gujarat Enterprise Finance Ltd. Different collaborating traders had been NB Ventures, LetsVenture, Lead Angels, and present traders Yuj Ventures, Dholakia Ventures and actor Rana Daggubati.
ET reported on February 27 that the agency had acquired tv host and chef Vicky Ratnani’s connoisseur cloud kitchen Communicate Burgers, with Ratnani becoming a member of the agency as chief culinary officer and co-founder. Earlier in 2022, Ghost Kitchens had acquired a know-how firm, WTF, which helped it create its proprietary know-how.
Ghost Kitchens operates by way of over 15 company-owned and -operated cloud kitchens in Mumbai and Ahmedabad, and 1,200 web eating places throughout 40 cities in India.
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Ghost Kitchens was based in 2019 as a company-operated cloud kitchens community—industrial kitchens for the aim of getting ready meals for supply or takeout solely—however quickly shut down as a result of Covid-19-led downturn. In 2021, the corporate was relaunched with a fulfilment accomplice programme, the place it licences its personal manufacturers to present eating places, cloud kitchens and resort kitchens.The corporate, which as we speak operates 15 scaled-up and 3-4 pilot manufacturers, over a time period plans to develop from its fulfilment accomplice programme mannequin to open quick-service eating places with dine-in services in high-street areas with 25 such retail institutions.
Tanna had earlier advised ET that the corporate is about to report Rs 40 crore in revenues in FY24, up from Rs 25 crore a 12 months in the past. He projected the enterprise to scale to Rs 60-65 crore by FY26.
