Former Infosys executives invest in food-tech startup Petoo
Petoo, which is a Bengaluru based food-tech startup bagged an investment of $1 million from an early state venture capital firm Axilor Ventures which was founded by former Infosys executives S D Sibulal and Kris Gopalakrishnan.
The funding will be used by Petoo to develop its backend operations, consolidate the team and speed up food research . Petoo’s founders include Ritesh Dwivedy , former CEO of JustEat India, Kumar Setu, an IIT Kharagpur alumnus and Abhishek Mandal, an alumnus of Institute of Hotel Management who was also in JustEat.
According to a statement by Ganapathy Venugopal who is one of the founders of Axilor Ventures Petoo’s team is one of the most experienced in the food delivery segment in the country.The integrated model of the team is also appealing and the team’s focus along with the strong analytical approach they drive in to business makes the investment highly justified.
Petoo serves Indian dishes across 20 locations in Bengaluru. Petoo focuses on a menu comprising only Indian dishes. The company aims to cater to discerning customers, who enjoy rich traditional dishes. The team has over a decade’s experience in food-tech space.
The company, which began its operation last year, earned about Rs 45 lakh per month last fiscal.
Team TOS
