EatClub, operator of cloud kitchen brands like Box8 and Mojo Pizza, has raised 185 crore rupee (US$22 million) in a funding round led by Tiger Global.

A91 Partners and 360 ONE Asset Management also participated.

EatClub will issue 11,830 preference shares and may raise additional capital in this round.

Following the investment, EatClub’s valuation is expected to reach 4,585 crore rupee (US$540 million), up 80% from its US$300 million valuation in December 2021.

The company previously raised US$40 million in 2021 and completed a US$30 million secondary transaction in 2022.

Founded by Anshul Gupta and Amit Raj, EatClub operates 16 cloud kitchen brands, including NH1 Bowls and Bhatti Chicken.

It reported 515.5 crore rupee (US$59 million) in revenue and reduced losses to 15.77 crore rupee (US$1.8 million) for FY24.