BENGALURU: Food service platform Kouzina Food Tech will now manage operations, innovations and growth of Swiggy's food brands- The Bowl Company (TBC), Homely, Soul Rasa and Istah, in an exclusive license deal.
The deal comes amid exponential growth in the country's food delivery, QSR, and cloud kitchen markets.
Founded by IIT/IIM alumni and leaders from Ola, Flipkart, and Amazon, Kouzina plans to take the company public within the next five years.
Upon fulfillment of certain pre-agreed conditions, Swiggy will transfer full ownership of these brands to Kouzina, the food and grocery delivery major said in a statement.
"“This transaction further cements our position as a leading food services company in India and accelerates our growth trajectory,” said Gautam Balijepalli, Co-founder & CEO of Kouzina.
Under Kouzina, these brands will be scaled and expanded into new markets through its asset-light expansion model.
"Homely is live in select Bangalore locations, with The Bowl Company launching later this week. We're also preparing to expand to more cities soon," he said.
"Swiggy’s food brands-including The Bowl Company, Homely, and others were launched to address gaps in restaurant supply and meet the demand for variety and convenience in food delivery. These brands have filled key market whitespaces and inspired restaurant partners to innovate, ultimately benefiting consumers. With its expansive digital-first F&B platform and asset-light business model, Kouzina is well-positioned to scale these brands to new heights,” said Arpit Mathur, VP at Swiggy.
In recent years, Kouzina has rapidly expanded its house of brands, now operating with over 250 kitchen partners across 100 cities. With this addition, Kouzina’s portfolio now covers from mass-market meals and thalis (Mealy, Homely) to premium bowls and global flavors (The Bowl Company, Istah), as well as regional favourites and indulgences (Vasudev Adiga’s, WarmOven, KaatiZone, MomoZone, Mad Over Parathas & Pakodas).
Kouzina has been on an aggressive expansion spree, having recently acquired the South Indian brand Vasudev Adiga’s and invested in Shark Tank-famed MOPP Foods.