Foodtech startup On2Cook gets Rs 17 cr seed funding at Rs 100 cr valuation

Firm says its cooking appliances help domestic and commercial kitchens

On2Cook India, a food technology start-up that made an appearance on season 1 of business TV reality show 'Shark Tank', has raised Rs 17 crore in seed funding at a valuation to Rs 100 crore.

The funding round was led by angel investor Mayur Desai, who infused the first tranche of Rs 16 crore for 16 per cent equity. The round also saw the participation of NRI investor Nirbhay Gandhi, who put in Rs 1crore for 1 per cent equity.

On2Cook’s device combines cooking technology with induction or flame acting on the food from outside and microwaves from inside, said Sanandan Sudhir, the company’s founder and CEO.

“Engineered to disrupt the food industry, the product is designed to help both domestic as well as commercial kitchens save up to 70% on time and 50% on energy. Additionally, the food cooked retains water-soluble nutrients while preserving colour, texture and consistency. After being granted patents across India, US and UK, our invention stands to create a new product category in the kitchen space,” Sudhir said.

“There hasn't been a technological shift in the cooking appliances space in the post-industrial world for decades, if not centuries. On2Cook brings cooking into the 21st century. We are happy to join forces with Sanandan in his tryst to usher in a landmark transition in an industry, and even in the lifestyle of everyone,” said Shaival Desai, of the Desai family office.

On2Cook will appear on GulfHost 2022, Middle East and North Africa’s hospitality and food service event at the World Trade Centre in Dubai.