2017
Bengaluru (India)
Seed
Potful is a cloud kitchen startup based in Bengaluru, India, specializing in handi biryani, a traditional cooking method using clay pots to enhance aroma and flavor. Founded in 2017 by Lokesh Krishnan, Potful aims to offer authentic biryani from across India.
Key Highlights:
Concept: Potful prepares biryani in 'handis' (clay pots), which allows for slow, uniform heat transfer.
Menu: The company offers a diverse biryani selection, including Hyderabadi, Kolkata, Lucknowi, and Bengaluru Donne Biryani, totaling 107 items and combos.
Operations: Potful operates 25 cloud kitchens across Bengaluru, Hyderabad, and Chennai. Each order is freshly prepared.
Sourcing: Spices are sourced from Kerala plantations, while chicken, proteins, and vegetables are sourced locally.
Sales Channels: 90% of sales come from Swiggy and Zomato, with additional sales through its app, website, and WhatsApp.
Community Impact: Potful supports over 100 potters from Chinnandahalli village near Hoskote, Karnataka, by providing machines to make the handis, which has quadrupled their production.
Market: The cloud kitchen segment in India is projected to reach $2.9 billion by 2032.
Challenges: The company initially faced challenges due to being a non-restaurant brand.
Lokesh Krishnan, the founder, previously worked with Amul and Metro Cash & Carry. Potful India Pvt. Ltd. was founded in 2017. Potful won the Times Food Award 2021 for Best Biryani brand. Potful projects a revenue of Rs 100 crore for FY25 and plans to raise Rs 50 crore to expand in South and West India. The company aims to be a thousand-crore brand by 2030.
$2.2Million
3
$250.0K, Seed
as of December 7, 2022
$16Million
as of N/A
5.88
as of N/A
MTR Foods
72
Ghost Kitchens
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Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
---|---|---|---|---|---|---|
December 7, 2022 | Seed | $250.0K | $15.0Million | $4.0Million | 3.7x | MTR Foods |
June 15, 2019 | Seed | $1.2Million | $7.3Million | $917.0K | 6.6x | MTR Foods |
December 27, 2018 | Seed | $314.0K | $3.1Million | $580.0K | 4.9x | MTR Foods |