Eatlo Collects High During Its Second Round Of Angel Funding

Bengaluru-based food-tech company Eatlo, has raised its second round of angel funding from Powai Lake Ventures, Abhishek Goyal of Tracxn Labs and Globevestor to fuel its expansion plans in the city.

Although unwilling to disclose exact amount of funding raised but the company said it is under Rs 6 crore or $1 million.

What Is Eatlo?

Founded in 2014 by IIT Bombay graduates Rahul Harkisanka and Sai Priya Mahajan, Eatlo – operated by Eatlo Tech Solutions Pvt Ltd – is a food delivery app where users can order food and get quick hassle free food from the best chefs.

Its team strength currently stands at 100 people, of which 60 are delivery boys and balance comprise of employees for operations, marketing and tech departments.

It presently delivers food across seven locations in the city and has 10 fulfillment centers from where food is dispatched to customers, serving about 1000 orders a day from a rotating menu of eight items that’s refreshed daily.
Where’s The Stash Going?

Eatlo that operates with a network of about seven chefs from where it sources food plans to use this funding to increase delivery locations to 20 from current seven in the next two months, hire 100 employees across teams, and improve back-end technology.

The company also plans to set up a centralized kitchen in the near future. “We will use this as a platform to have chefs in our network, and professional chefs to come and cook for us,” said Rahul Harkisanka, cofounder, Eatlo.

Previously On Eatlo
Previous angel investors include Haresh Chawla (early investor in TinyOwl and Housing), Abhishek Goyal (founder of Tracxn, angel investor in Dehlivery) and others, who invested in December last year, in a pre-launch funding round with Rs 1 crore. 
Up Next

The company is also looking to raise $7-$8 million in Series A funding and is in talks with venture capitalists for the same, Harkisanka said.