MyCloudKitchen joins hands with NVA Foods, launches with $1.23 million corpus. The joint venture will leverage its expertise such as in-house capabilities of brand building, vendor tie ups, menu engineering, inventory management, staff recruitment, culinary training, marketing, in running scalable food and beverage Multi cuisine Multi brand cloud kitchen & QSR formats across Bengaluru.
Krunal Oza, founder and CEO of Hustlers Hospitality has in the past acquired 31% majority stakes in consulting firm MyCloudkitchen, which is India’s first organised consulting and incubation firm for start ups in the cloud kitchen segment having its head office in Mumbai.
Oza has now joined hands with Amit Sarin who owns a cloud kitchen company, NVA foods, with 8 brands portfolio. Together as a joint venture to grow the consulting business, they intend to focus on India’s fast-growing food tech and food delivery market, from Bengaluru which is the centre of India’s high-tech industry, and will incubate and invest its resources at a cost in cloud kitchen start up companies that focus on multi brand multi cuisine model only on home delivery business model.
It has a planned corpus of $1.25 million for the first tranche, where it will invest in incubating and consulting at least 18 brands in the year 2022.
“The company will provide consultancy to aspiring foodpreneurs that are wanting to step into the food delivery business with a unique concept and multi brand multi cuisine business model. Since the R&D in terms of competitor analysis, territory analysis, menu engineering is a must before entering the Cloud Kitchen space, MyCloudkitchen will also provide a R&D team from the very beginning in phase 1 consulting, to help brands optimise these costs, Our goal is to make the hustle of Food entrepreneurship as hassle-free and affordable as possible,” said Oza.
Sarin said, ‘‘We have worked with Krunal & team in the past, the overall services are seamless. I personally love working with him on such unique F&B projects, This strategic joint venture will help us together to expand the strength of Mycloudkitchen consulting operations in Bengaluru with a dedicated consulting office space and cloud kitchen experience centre in EPIP Zone, Whitefield, and serve the cloud kitchen market in a better way. “Cloud kitchen is an exciting phenomenon worldwide and not only in India. The industry is growing at the highest CAGR as compared to other segments and restaurant industry. Looking at the rising demand for new comers wanting to enter the cloud kitchen business space, it is going to be an exciting journey.”