Noida-based foodtech startup Fambo has raised INR 21.5 crore (about $2.4 million) in a Series A funding round led by AgriSURE Fund, with participation from EV2 Ventures.
The company plans to use most of the funds to expand operations beyond North India into western and southern regions. It also plans to start exporting, having already completed a test shipment to Nepal.
Fambo will also upgrade its AI-powered demand prediction system, which helps restaurants manage their stock more efficiently, and hire more team members in sales, technology, and operations.
This is Fambo’s second funding round in 2025, following a similar-sized raise in January led by EV2 Ventures and a group of ultra-high-net-worth individuals (UHNIs).
“Our first round was about establishing product-market fit; this one is for scaling the model. In the last 10 months, our operations, ARR, and team size have all doubled,” cofounder and CEO Akshay Tripathi said.
Fambo was founded in 2022 by Tripathi and Sudarshan Satle. The company supplies fresh produce and semi-processed food products to the HoReCa sector (hotels, restaurants, and cafes).
It currently serves over 1,000 restaurants and cloud kitchens across North and Central India, including well-known brands like McDonald’s, Burger King, Burger Singh, California Burrito, Nomad Pizza, and Barbeque Nation.
Fambo gets its produce from a 75-acre network of GAP-certified farms, helping farmers with everything from crop planning to buying their produce, ensuring complete traceability. The company uses a temperature-controlled supply chain for chilled and frozen deliveries, managed through AI-based logistics planning.
It also runs a processing unit in Noida, where it prepares semi-processed ingredients and partners with food brands. Fambo’s in-house chefs work with these brands to create and improve menu items.
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