Mumbai-based My Cloud Kitchen has signed a joint venture deal with NVA Foods to incubate and consult cloud kitchen startups in Bengaluru, the company said in a statement on Monday.
My Cloud Kitchen has earmarked $1.25 million corpus for the first tranche, where it will invest in incubating and consulting across 18 brands this year, it added.
Founded in 2012, My Cloud Kitchen provides end-to-end services to cloud kitchen businesses. The company owns in-house delivery brands like Senorita Margarita, Pancake Station, Monk Momo, New York Sandwich and Omg Churros across 19 outlets in India.
The company also claims to assist existing restaurants and catering firms in creating cloud kitchen brands that serve multiple cuisines with multiple brands, using the same re-estate.
Earlier, Hustlers Hospitality had acquired 31% stake in My Cloud Kitchen.
"The company will provide consultancy to aspiring ‘foodpreneurs’ that are wanting to step into the food delivery business. Since R&D behind competitor and territory analyses, menu engineering is a must before entering the cloud kitchen space, My Cloud Kitchen' will also provide a R&D team from the beginning in phase 1 consulting, to help brands optimise these costs,” said Krunal Oza, founder and chief executive officer of Hustlers Hospitality.
“This strategic joint venture will help us together to expand the strength of My Cloud Kitchen consulting operations in Bengaluru with a dedicated consulting office space and cloud kitchen experience centre in EPIP Zone, Whitefield, and serve the cloud kitchen market in a better way,” said Amit Sarin, founder of NVA foods.
Bengaluru-based cloud kitchen NVA Foods was established in 2005.
The cloud kitchen startups in India have started gaining traction since post pandemic.
In December last, Grip Invest, a lease finance platform has entered into a $2 million lease financing deal with cloud kitchen startup Big Spoon.