Total amount raised
₹250 Millions
Latest funding date
04/01/2023
Location
Thrive has participated in a Series A funding round, with notable investors including The Coca-Cola Company and Mars Shot Ventures. The company has raised an undisclosed total funding amount, positioning itself as a key player in the restaurant ordering and marketing space.
Keep reading to explore the intricacies of Thrive's fundraising journey and the investors backing this innovative platform.
What Is Thrive?
Thrive, founded in 2020, is an all-in-one restaurant ordering suite based in Mumbai, Maharashtra, India. The platform offers table ordering, pickup, and delivery services, along with integrated marketing tools.
The company was established by Dhruv Dewan, Karan Chechani, and Krishi Fagwani. Thrive aims to streamline restaurant operations and enhance customer experience through its comprehensive suite of services.
With a team of 11-50 employees, Thrive continues to innovate in the restaurant technology space, providing valuable solutions for both restaurant owners and customers.
How Much Funding Has Thrive Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Ahimsa Capital, Whiteboard Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To augment Thrive's product offering, add new restaurants to its platform, and transition to a self-serve model to make the platform more accessible to small or independent restaurants.
- Series A
- Amount Raised: ₹250M (approximately $3.3M USD)
- Date: December 2021
- Lead Investors: Jubilant FoodWorks
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its technological capabilities.
- Series A
- Amount Raised: Not publicly disclosed
- Date: April 2023
- Lead Investors: The Coca-Cola Company, Mars Shot Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and integrate advanced marketing tools.
Total Amount Raised: $3.3M USD
Current Valuation: Not publicly disclosed
Key Investors
- The Coca-Cola Company
- Details: The Coca-Cola Company is a global beverage corporation headquartered in Atlanta, Georgia. It is best known for its flagship product, Coca-Cola, and operates in over 200 countries.
- Investment Focus Areas: Beverages, Food and Beverage, Consumer Goods
- Notable Investments: Monster Beverage, Costa Coffee, Innocent Drinks
- Jubilant FoodWorks
- Details: Jubilant FoodWorks is an Indian food service company based in Noida, Uttar Pradesh. It operates the Domino's Pizza and Dunkin' Donuts franchises in India.
- Investment Focus Areas: Food Service, Quick Service Restaurants, Food Delivery
- Notable Investments: Domino's Pizza India, Dunkin' Donuts India, Hong's Kitchen
- Ahimsa Capital
- Details: Ahimsa Capital is an investment firm founded by Anish Malhotra. The firm focuses on supporting businesses that can create a positive impact.
- Investment Focus Areas: Early-Stage Startups, Impact Investing, Technology
- Notable Investments: Not publicly disclosed
- Whiteboard Capital
- Details: Whiteboard Capital is a venture capital firm that invests in early-stage startups. The firm is known for its focus on innovative solutions and strong market potential.
- Investment Focus Areas: Early-Stage Startups, Technology, Consumer Goods
- Notable Investments: Not publicly disclosed
What's Next for Thrive?
Thrive is poised to capitalize on the growing trend of digital solutions in the restaurant industry. By expanding its product offerings and transitioning to a self-serve model, Thrive aims to attract small and independent restaurants, significantly broadening its market reach. This strategic move could position Thrive as a leader in the foodtech space, offering a comprehensive suite of services that cater to the evolving needs of restaurant owners.
Future fundraising opportunities seem promising, given the successful pre-Series A round. As Thrive continues to grow and enhance its platform, additional funding rounds could be on the horizon to support further expansion and technological advancements. However, the company may face challenges such as adapting to the rapidly changing industry landscape and competing with other established foodtech platforms.
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