Pepperfry founders Ambareesh Murthy and Ashish Shah have invested $1 million in food-tech firm Adonia Hospitality. In the next six months, the funding will be used to open six more eateries.
The company was founded by Rupesh Kumar Shah and now has 6 restaurants in its portfolio. It is profitable with an ARR of Rs 7 crores for FY 21-22, with a month-on-month growth of 7-9 percent, and plans to manage a network of 200 restaurants with an estimated annual revenue of Rs 135 crores.
Bread Butter Beyond, 9th Street Pizzeria, and Mia Cucina are among the businesses owned by the firm, which it bought in July 2021.