TTSF Cloud One Secures $5.3 Million from Brand Capital
TTSF Cloud One, a Hyderabad-based multi-brand cloud kitchen chain founded by the designers of The ThickShake Factory, has secured $5.3 million in a seed round headed by Brand Capital, the Times Group's strategic investment arm.
Yeshwanth Mocherla and Ashwin Mocherla founded the ThickShake factory eight years ago, and it has now developed into a quick-service restaurant franchise with over 125 branches.
The two brothers began building, establishing, and growing out multiple D2C F&B brands by starting TTSF Cloud One in 2020. Apart from the milkshake business, the company also owns the Wowffles – an artisanal dessert brand and the Prowl foods – a health food brand.
Despite the start-up's efforts to break into the D2C arena, the majority of its sales are made through food aggregator apps such as Swiggy and Zomato, according to the company.
TTSF secured a brand licence agreement with Bollywood star Tiger Shroff earlier this year to sell their Prowl foods brand. In the future, the business intends to open a number more cloud kitchens and retail locations to promote the brand.
Yeshwanth Mocherla said, “with the ThickShake factory, we understood how to scale up a brand frugally since we were bootstrapped for a long time as we expanded across the country”.
He added, “between that and the increasing penetration of cloud kitchens across the country, we realised that there is a huge opportunity in the entire food segment, which is why we built TTSF Cloud One continued”. As a result, the company announced ambitions to adopt a Thrasio-style strategy, in which it acquires and builds up additional F&B companies.
The resources obtained will be used to expand the company's financial performance and build or acquire at least a couple new brands. To promote its goods, the business will continue to work with A-list Bollywood superstars.
TTSF will unveil another celebrity as a strategic investor and brand ambassador for its dessert brand, Wowffles, in the near future. It is now accessible at 14 sites around Hyderabad and Bengaluru.
By the end of the fiscal year, it hopes to have 50 functioning cloud kitchens around the country.
Curefoods, which owns Eat.fit and is helmed by Ankit Nagori, recently bought seven D2C organizations in this market. Masala Box, a subscription-based home-cooked meal firm; Paratha Box, a breakfast startup; CakeZone, a confectionery chain; Ammi's Biryani, a biryani brand; pizza companies Olio and Crusto's; and Chaat Street, an online chaat brand, are among them.
After receiving $175 million in a Series F round backed by Qatar Investment Authority, Rebel Foods, which operates more than 450 cloud kitchens around the country, became the first food tech business to join the unicorn club.
In India, the addressable market for cloud kitchens would reach $1.05 billion in 2023, rising at a CAGR of 12%. During the same time period, the internet meal delivery industry is predicted to rise by 15%, reaching $132.6 billion.
Yeshwanth Mocherla and Ashwin Mocherla founded the ThickShake factory eight years ago, and it has now developed into a quick-service restaurant franchise with over 125 branches.
The two brothers began building, establishing, and growing out multiple D2C F&B brands by starting TTSF Cloud One in 2020. Apart from the milkshake business, the company also owns the Wowffles – an artisanal dessert brand and the Prowl foods – a health food brand.
Despite the start-up's efforts to break into the D2C arena, the majority of its sales are made through food aggregator apps such as Swiggy and Zomato, according to the company.
TTSF secured a brand licence agreement with Bollywood star Tiger Shroff earlier this year to sell their Prowl foods brand. In the future, the business intends to open a number more cloud kitchens and retail locations to promote the brand.
Yeshwanth Mocherla said, “with the ThickShake factory, we understood how to scale up a brand frugally since we were bootstrapped for a long time as we expanded across the country”.
He added, “between that and the increasing penetration of cloud kitchens across the country, we realised that there is a huge opportunity in the entire food segment, which is why we built TTSF Cloud One continued”. As a result, the company announced ambitions to adopt a Thrasio-style strategy, in which it acquires and builds up additional F&B companies.
The resources obtained will be used to expand the company's financial performance and build or acquire at least a couple new brands. To promote its goods, the business will continue to work with A-list Bollywood superstars.
TTSF will unveil another celebrity as a strategic investor and brand ambassador for its dessert brand, Wowffles, in the near future. It is now accessible at 14 sites around Hyderabad and Bengaluru.
By the end of the fiscal year, it hopes to have 50 functioning cloud kitchens around the country.
Curefoods, which owns Eat.fit and is helmed by Ankit Nagori, recently bought seven D2C organizations in this market. Masala Box, a subscription-based home-cooked meal firm; Paratha Box, a breakfast startup; CakeZone, a confectionery chain; Ammi's Biryani, a biryani brand; pizza companies Olio and Crusto's; and Chaat Street, an online chaat brand, are among them.
After receiving $175 million in a Series F round backed by Qatar Investment Authority, Rebel Foods, which operates more than 450 cloud kitchens around the country, became the first food tech business to join the unicorn club.
In India, the addressable market for cloud kitchens would reach $1.05 billion in 2023, rising at a CAGR of 12%. During the same time period, the internet meal delivery industry is predicted to rise by 15%, reaching $132.6 billion.
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