Startup On2Cook secures Rs 17 crore in seed funding round led by investor Mayur Desai. He invested Rs 16 in the first tranche for 16 per cent equity. After the fresh fund raise, the startup’s valuation stands at Rs 100 crore. Further, the round also saw the participation of NRI investor Nirbhay Gandhi who invested Rs 1 crore for 1 per cent equity.
“On2Cook works on the combination of cooking technology with induction or flame acting on the food from outside and microwaves from inside….,” said On2Cook India Founder and CEO Sanandan Sudhir. He added that the brand is in talks with other strategic investors to raise another Rs 3 crore as part of the round.
Echoing the sentiments, Shaival Desai from the Desai family office added, “There hasn’t been a technological shift in the cooking appliances space in the post-industrial world for decades, if not centuries. ….”
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