SwapNow, a pioneering healthy food startup, is excited to announce the successful closing of its pre-seed funding round, raising ₹65 lakhs at an undisclosed valuation. The investment, led by Pontaq Ventures alongside two prominent angel investors, will be strategically allocated towards the deployment of FitBar kiosks and strengthening its market presence in Hyderabad and Bangalore.
Currently, SwapNow operates eight cloud kitchens and two FitBar kiosks in Vizag, Vijayawada, Tirupathy, Hyderabad, and Bangalore, delivering over 1,000 orders daily through platforms like Swiggy and Zomato, as well as direct subscriptions. The company aims to expand its footprint by launching 10 additional cloud kitchens and 30 FitBars within the next six months, leveraging both franchise and company-operated models.
Praveen Kota, Founder & CEO, stated, “Our main goal at SwapNow is to create a diverse range of healthy products within the junk food-dominated F&B landscape. We aspire to establish SwapNow as the go-to brand for nutritious, delicious, and affordable food options. We’re poised to build India’s largest healthy food brand with a presence in five metros and 100 locations in the next five years, achieving a total ARR of ₹200 crores by 2029. This marks our first private equity round, and we are eager to scale our operations to strengthen our presence in Tier-1 markets like Hyderabad and Bangalore.”
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