HYDERABAD:City-based fast food chain Hello Curry on Tuesday announced that it has acquired food delivery startup Paratha Post, in a part-cash, part-stock deal for an undisclosed sum.
The start-up food technology and delivery company, is also in dialogue with a delivery chain in Mumbai and the deal is likely to be completed in the next couple of months. “We are in the process of raising `50 crore in a Series-A round of funding in 2-3 months. This will help us pursue both our organic and inorganic growth,” said Raju Bhupathy, founder & CEO of Hello Curry. According to co-founder Sandeep Penumatsa, the company was talking to investors including its existing angel fund SRI Capital that pumped in Rs 3 crore last year.
Launched in early 2014, Hello Curry has presence in Hyderabad and Bengaluru and will foray into Delhi soon. “The acquisition brings synergy for both of us and will significantly contribute towards Hello Curry’s aggressive growth plans,” Raju said.
Paratha Post, founded in 2013 by IIM graduates Mukesh Lamba and Rituraj, currently delivers 55 varieties of parathas and curries. The company sold nearly 3 lakh parathas last year and executed 60,000 delivery transactions.Lamba, founder and CEO, Paratha Post will join Hello Curry senior management and will drive its expansion in Delhi and NCR. “The Indian food industry is going through an exciting time right now with 4-5 national brands. Our learnings at Paratha Post will enable us to help Hello Curry in its ambitious expansion plans,” said Mukesh.