South-Indian Veg Outlet IDC Kitchen raises Funds from Peter Theil' s Velocity
A chain of vegetarian South Indian self-service restaurants, Bengaluru's IDC Kitchen (Idli, Dosa, Coffee) has successfully secured Rs. 1.5 Crore debt from Peter Thiel's Valar Ventures-backed financing platform, Velocity .
These funds will be directed towards marketing initiatives and other inventory-related expenses, enhancing IDC's outreach and sustaining its commitment to delivering an authentic South Indian culinary experience. This strategic collaboration with Velocity reinforces IDC's leadership in the Indian Quick service restaurant (QSR) landscape.
Speaking to this, Abhishek Baldota, Director of IDC - Idli Dosa Coffee says, "As we embark on the next phase of our journey, IDC Kitchen signifies more than just a culinary service; it's a transformative culinary journey. With the support of Velocity and the unwavering love of our patrons, we are thrilled to bring the essence of South India to doorsteps across the nation. This new chapter, fueled by the recent funding launch from Velocity, allows us to not only maintain our high standards but also elevate the IDC experience for our valued customers. We are passionate about redefining the dining landscape and are eager to share the authentic taste of South India with enthusiasts everywhere".
Founded in 2012, IDC Kitchen currently has 11 locations in Bangalore, 2 in Mumbai and 1 in Raichur and Rs. 30 Crore revenue annually, extending the diverse flavors of South India to enthusiasts nationwide.
Similarly, Atul Khichariya, COO & Co-Founder of Velocity adds, "At Velocity, we are thrilled to contribute to the growth and success of IDC through our recent funding of Rs. 1.5 Crore. This partnership opens up new avenues in the dynamic landscape of restaurants and QSR chains, and we believe that IDC's commitment to authenticity and innovation aligns seamlessly with our vision. I am confident that this infusion of funds will not only fuel IDC's brand growth but also set new benchmarks in the restaurant and QSR industry. We look forward to witnessing the continued success of IDC as it persistently redefines the culinary experience for patrons across India."
These funds will be directed towards marketing initiatives and other inventory-related expenses, enhancing IDC's outreach and sustaining its commitment to delivering an authentic South Indian culinary experience. This strategic collaboration with Velocity reinforces IDC's leadership in the Indian Quick service restaurant (QSR) landscape.
Speaking to this, Abhishek Baldota, Director of IDC - Idli Dosa Coffee says, "As we embark on the next phase of our journey, IDC Kitchen signifies more than just a culinary service; it's a transformative culinary journey. With the support of Velocity and the unwavering love of our patrons, we are thrilled to bring the essence of South India to doorsteps across the nation. This new chapter, fueled by the recent funding launch from Velocity, allows us to not only maintain our high standards but also elevate the IDC experience for our valued customers. We are passionate about redefining the dining landscape and are eager to share the authentic taste of South India with enthusiasts everywhere".
Founded in 2012, IDC Kitchen currently has 11 locations in Bangalore, 2 in Mumbai and 1 in Raichur and Rs. 30 Crore revenue annually, extending the diverse flavors of South India to enthusiasts nationwide.
Similarly, Atul Khichariya, COO & Co-Founder of Velocity adds, "At Velocity, we are thrilled to contribute to the growth and success of IDC through our recent funding of Rs. 1.5 Crore. This partnership opens up new avenues in the dynamic landscape of restaurants and QSR chains, and we believe that IDC's commitment to authenticity and innovation aligns seamlessly with our vision. I am confident that this infusion of funds will not only fuel IDC's brand growth but also set new benchmarks in the restaurant and QSR industry. We look forward to witnessing the continued success of IDC as it persistently redefines the culinary experience for patrons across India."
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