Indian funding platform Velocity has launched a fund of 200 crore rupees (US$23.5 million) to support cloud kitchens and restaurants operating on food aggregator platforms in India.

Founded in 2020, Velocity specializes in revenue-based financing for direct-to-consumer (D2C) and e-commerce businesses, along with offering credit cards and payment solutions.

Velocity has financed F&B brands like IDC Kitchen, Smoor, and Daily Sushi, supporting their growth and operations.

It has disbursed over 1,000 crore rupees (US$120 million) to more than 1,200 digital-first businesses to address working capital challenges.