Company Name : Petoo
Funding Amount : $1 million
Investor(s) Axilor Ventures
Funding Round : Not Disclosed
At times when food tech startups are struggling to raise funding and even survive, Petoo has raised $1 million from Axilor Ventures, an early state venture capital firm.
Bangalore-based Petoo was founded by Ritesh Dwivedy, former CEO of JustEat India, Abhishek Mandal, who was also in JustEat, and Kumar Setu, an IIT Kharagpur alumnus and software engineer.
The raised funds will be used to enhance its backend operations, speed up food research and strengthen the team.
“By focusing on a menu comprising only Indian dishes, we aim to cater to discerning customers, who relish rich traditional dishes. With over a decade’s experience in food-tech space, we understand customer preferences,” said Dwivedy.