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Faasos Raises $30 Million From ru-Net And Others

Company Name : Faasos
Funding Amount : $30 million
Investor(s) ru-Net, Sequoia Capital, Lightbox Venture.


Faasos has raised $30 million from Russian firm ru-Net. Existing investors including Sequoia Capital and Lightbox Ventures also participated in the funding round.

fasoos

The raised funds will be used to expand operations and make acquisitions. The company also plans to expand the range of its in-house brands and launch new services like Faasos Daily, a mobile application for time-slotted food deliveries.

The Pune based startup currently operates in 15 cities and has more than 160 distribution centres. Earlier, the company had raised $20 million led by Lightbox.

Related : Faasos generated revenue of Rs. 38 crores in FY 14-15 (24 crores loss).
[source]

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