Suzette Gourmet Pvt. Ltd, which runs organic quick-service restaurant (QSR) chains under the brands Kitchen Garden and Suzette, said on Monday it has raised Rs 10 crore ($1.39 million) in a new funding round.
Yuj Ventures, an early-stage investment firm backed by the family office of Sid Yog, led the investment, Suzette Gourmet said in a statement. Yog is the founding partner of real estate-focussed investment firm Xander Group.
Existing investor DSG Consumer Partners, a consumer-focussed venture capital firm, also participated in this funding round, it added.
Suzette Gourmet will use the fresh capital to expand its presence in Mumbai and open a cloud kitchen to cater to food deliveries.
The company, which has seven outlets in Mumbai, says it prepares its salads and juices on the spot using fresh organic and local ingredients. It has partnered with organic farmers to source its products and has developed its own 10,000 square feet of land to grow its produce.
Suzette Gourmet was founded in 2011 by Antonia Achache, Jérémie Sabbagh and Pierre Labail, who are French professionals-turned-chefs.
"Their mission of providing healthy, fresh and tasty food options for India’s increasingly health conscious customers resonates with us," said Madhav Soi of Yuj Ventures.
Deepak Shahdadpuri, managing director at DSG Consumer Partners, said the company is well positioned to become a leading operator of fast casual restaurants focussed on the organic and healthy category.
A few companies, making healthy food, have attracted funding in the past months as they seek to cater to growing health-conscious population in urban India.
Lo! Foods, which offers low-carb food products for Indian consumers, raised Rs 3.5 crore ($500,000) from a clutch of angel investors last week.
In May, Saama Capital invested in an organic snack foods maker.
Investors
Yuj Ventures' portfolio is spread across India, the United States, Latin America, Hong Kong, Singapore, South Africa, Israel and Russia.
It has invested in sectors such as digital media, omnichannel and online retail, co-living and co-working platforms, hospitality, biometric applications, clean energy, ed-tech and prop-tech. It has also backed other emerging investment managers.
DSG Consumer Partners marked the final close of its third fund at $65 million (Rs 465 crore) last week, overshooting the target of $50 million.
The VC firm's investments from the second fund include yogurt maker Epigamia, mother and baby-care venture The Mom’s Co, craft beer startup Goa Brewing Co, vegan personal care brand Arata and cold brew coffee venture Sleepy Owl.
From its first fund, it had invested in companies such as hospitality chain Oyo, mobile payments service provider Mswipe Technologies.