EatClub’s Financials, Revenues & Funding Overview
EatClub Brands, established in 2012 by Amit Raj and Anshul Gupta, is a Mumbai-based cloud kitchen platform operating multiple brands including Box8, NH1 Bowls, Mojo Pizza, ZAZA Biryani, and others. The company leverages technology-driven operations, data analytics, and centralized kitchens to deliver a variety of meals across India, focusing on quality, speed, and consistency. Over the years, EatClub has scaled its delivery network, expanded brand offerings, and secured funding to drive growth in the highly competitive foodtech sector.
| Founding year | 2012 |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Valuation | ~$1.1B (Jun 2024) |
| Total Funding | ~$75M over multiple rounds |
| Employees | ~350 (FY24) |
| Annual Revenue (INR) | ₹515.5 Cr (FY24) |
| Annual Net Loss (INR) | ₹15.8 Cr (FY24) |
| EBITDA Margin | -37% (FY24) |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Seed | 2012 | Undisclosed | Not disclosed | Angel investors |
| Series A | Dec 2019 | $10M | Not disclosed | Tiger Global, Blume Ventures |
| Series B | Dec 2021 | $40M | ~$600M | Tiger Global, RTP, Prosus |
| Series C | Jun 2024 | $25M | $1.1B | Global Founders, RTP |
EatClub’s revenue grew from ₹210 Cr in FY22 to ₹315 Cr in FY23 (↑50%) and ₹515.5 Cr in FY24 (↑63.6%), while net losses moved from ₹45 Cr to ₹69 Cr and narrowed to ₹15.8 Cr (↓77% from FY23), indicating improving unit economics with scale.
EBITDA margins were around -89% in FY22, -120.9% in FY23 due to aggressive expansion, and improved to -37% in FY24 as revenue scaled and cost optimizations took effect.
Headcount rose from ~120 in FY22 to ~250 in FY23 and ~350 in FY24 to support multiple brand operations, kitchen expansions, and tech/delivery team growth.
- Expand cloud kitchen footprint across new cities and optimize kitchen locations.
- Enhance technology for demand forecasting, menu personalization, and delivery logistics.
- Introduce new cuisine offerings and subscription meal plans to increase ARPU.
- Improve unit economics via process automation, vendor negotiations, and dynamic pricing.
- Consider future exit paths once sustained profitability achieved.
In June 2024, EatClub closed a $25M Series C at a $1.1B valuation, marking its unicorn entry. FY24 revenue surged to ₹515.5 Cr (↑63.6% YoY) with losses narrowing significantly to ₹15.8 Cr, reflecting improved unit economics and scale benefits.
| Metric | Details |
|---|---|
| Employees | 120 → 250 → 350 |
| Revenue | ₹210 Cr → ₹315 Cr (↑50%) → ₹515.5 Cr (↑63.6%) |
| Net Loss | ₹45 Cr → ₹69 Cr → ₹15.8 Cr |
| EBITDA Margin | -89% → -120.9% → -37% |
| Valuation & Funding | Unicorn at $1.1B; ~$75M raised |
| IPO Status | Private; focusing on profitability and scaling before exit. |
| Expansion Focus | New city launches, brand extensions, technology optimization, and profitability improvements. |
| Latest News | ₹515.5 Cr revenue, ₹15.8 Cr loss in FY24; $25M Series C at $1.1B valuation |
EatClub’s rapid revenue growth and sharply narrowed losses demonstrate its ability to scale cloud kitchen operations effectively. Continued focus on technology, cost efficiencies, and expansion will be key to achieving long-term profitability.
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