Faasos Looks To Raise $100 Mn To Enter Overseas Markets
Summary
The company looks to enter overseas markets and expand both its product range and cloud kitchen presence nationally, according to ET sources. The media reports also suggest that early investors are likely to either completely or partially exit in an ongoing secondary transaction. Earlier this year reports also surfaced that Faasos is preparing to establish three kitchens in Dubai by the first quarter of 2019. Founded in 2004 by Jaydeep Barman and Kallol Banerjee, Faasos was the first company to take orders via tweets as part of a campaign. In this model, Faasos set up a central kitchen and establishes multiple brands with their own specialities like Behrouz (famous for Biryani), Oven Story, (for Pizzas), and Kettle & Kegs (the tea and snacks bar).