Foodlink Raises US$ 8 Million in Series B Funding to expand in UAE


December 29, 2021 | By Zubina Ahmed

Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India and UAE, has raised US $ 8 million in its Series B funding round led by Arpit Khandelwal, Managing Partner, Plutus Wealth Management LLP. Foodlink operates across the domains of outdoor events catering, banquets management, restaurants and cloud kitchens, and corporate catering. It will use these funds to expand its business of luxury catering to newer destinations, and to scale their casual dining restaurant business through its brands India Bistro, China Bistro & Art of Dum in UAE and India. The company has so far raised US$ 23 million including the current round. It received US$ 15 million as part of its Series A round from OAKS Asset Management in 2017.

While a lot of F&B services have shut down operations during the pandemic, Foodlink used this time to fortify its presence in the UAE during FY21. The company has started 8 new restaurants/ cloud kitchen units in Dubai & Sharjah in 2021. Foodlink has also entered into alliances with Dubai World Trade Centre and various other luxury hotels in the UAE. By 2025, Foodlink aims to be the market leader in India and Dubai across banqueting, catering and restaurant businesses.

The company has set up state of the art infrastructure for providing banqueting and catering services in Mumbai, Ahmedabad, Chandigarh, and UAE with plans to expand in Delhi, Jaipur, Abu Dhabi, Al-Ain and other prominent cities in India as well as UAE, by partnering with real estate owners and partners who want the Foodlink brand to manage and run their banqueting facilities. They also provide consultancy services and turnkey solutions to luxury hotels for grand events.

Foodlink has invested heavily in world class infrastructure with over 50000 sq.ft of kitchen space and over 35000 sq.ft of warehouse space. Foodlink is poised to leverage their relationships with some of India’s most powerful business families to gain a stronger foothold in the market. The experience from Covid-19 has necessitated higher food quality, hygiene and service standards, helping brands grab further market share.

Announcing the funding round, Mr. Sanjay Vazirani, founder of Foodlink said, “Our current revenue run rate for FY22 is INR 100 crore and we expect it to be around INR 300 crore by the end of FY23-24. Foodlink plans to leverage technology in a big way to support its growth across geographies. We have come a long way in organizing an otherwise fragmented industry, and we plan to take our management of sales pipeline, quality audits, infrastructure management & resource allocation to the next level of maturity post this round of funding. We are delighted to have Plutus on board and backing us for this next exciting phase of the Foodlink journey along with OAKS Asset Management who have been a valuable partner over the last few years.”

Arpit Khandelwal, Managing Partner at Plutus Wealth Management said, “Foodlink is an exceptional business that offers a unique way to invest in the uber-luxury Indian wedding market. Weddings in India are a recession-proof business and the increased focus on high quality, hygienic food and formal organised vendors will strengthen Foodlink immensely.”

Founded in 2003 by Sanjay Vazirani, Foodlink F&B Holdings India Pvt. Ltd. is India’s largest luxury banquets and catering brand with over two decades of proven track record. It also owns and operates casual dining restaurant brands such as India Bistro, China Bistro, Glocal Junction & Art of Dum. It is registered as Foodlink  Global Restaurants & Catering Services LLC in UAE.

 

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