Petoo, a Bangalore based foodtech startup has just closed in a funding round worth $1 Million led by Axilor Ventures. The funding round also saw participation from a few HNIs.
Petoo, founded in March 2015 by the trio of Kumar Setu, Ritesh Dwivedi and Abhishek Mandal. The startup focuses on making Indian food easily accessible at affordable rates and in neatly packed boxes according to the needs of the users.
Speaking on the development, Ganapathy Venugopal, Co-Founder CEO of Axilor Ventures insisted that Petoo has one of the most experienced teams in Indian foodtech industry. Their strong analytical approach towards business and the focus on the quality and users is another thing to look at.
Kumar Setu, Co-Founder of the startup stated his relief over the fact that the latest funding round will give them more financial flexibility along with confidence of having some respected names on the board. Also, he commented that the raised funds will be used to invest in food research and strengthening the back-end. Also, they plan to expand in more areas in Bangalore along with expanding to more cities like Chennai and Hyderabad.