Private Equity

VC Fund Investments

Restaurant chain operator Adonia Hospitality raises $1-M from Pepperfry founders

Mint  

Early-stage foodtech venture Adonia Hospitality has raised over USD 1 million as a part of its seed round from Pepperfry founders Ambareesh Murty and Ashish Shah. It will use the funds to set up six additional restaurants over the next six months. As a part of the transaction, Murty and Shah will join Adonia's board as non-executive directors. Adonia operates in the casual dining and cloud kitchen segment, with plans to expand into packaged and frozen foods. In July 2021, Adonia acquired Mumbai-based Italian food chain Mia Cucina. It plans to launch Mia Cucina outlets in Bengaluru, Hyderabad and Gurugram over the next one year. Adonia also owns brands like Bread Butter Beyond and 9th Street Pizzeria.