Foodlink bags $8 million in Series-B led by Plutus Wealth Management

Largest Indian luxury catering and banqueting company Foodlink has raised $8 million in its Series B funding round led by Arpit Khandelwal, Managing Partner, Plutus Wealth Management LLP.

Sanjay Vazirani owned company will use these funds to expand its flagship business of luxury catering across newer geographies in India and overseas.

It is also planning to take its luxury banquet brand called JADE Luxury Banquets to more cities in India, and to scale their casual dining restaurant business through its brands, India Bistro, China Bistro & Art of Dum.

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.

“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,” shared Sanjay Vazirani, founder of Foodlink.

While a lot of players have shut down operations during the pandemic, Foodlink has strategically used this time to fortify its presence in the UAE during FY21.

The company has started 8 new restaurant / 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.  

“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,” added Arpit Khandelwal, Managing Partner at Plutus Wealth Management.