Hundo Pizza Raises ₹7.5 Cr, Led by Titan Capital

Hundo Pizza, a Mumbai pizza brand built for delivery, has raised ₹7.5 crore in its first institutional round. Titan Capital, founded by Kunal Bahl and Rohit Bansal, led it.

The company ran without outside money for six years.

Who put in the money

Indian Silicon Valley Capital, Ankur Rangnekar, Akshay Rangnekar and Haresh Chawla also took part, and Wavelength Partners advised on the deal. The company has not disclosed a valuation or what stake the investors hold. Kabir Moorjani and Ronak Rajani founded Hundo in 2020. Moorjani, a trained chef, runs product, kitchens and consistency across outlets, and Rajani runs growth, marketing and partnerships. The company says Rajani founded the food discovery platform Mumbai Foodie, which Swiggy acquired in 2024, but we could not find an independent record of that deal.

The numbers the company reports

Hundo says it closed FY26 with revenue of ₹18 crore and now runs at an annualised ₹35 crore. It has seven outlets in Mumbai, the latest in Sakinaka, Andheri East, and it is aiming for an annualised ₹60 crore by FY28. A run rate counts one recent period as if it lasted a year, so it will not match audited revenue. Spread across seven outlets, ₹35 crore comes to about ₹5 crore a year each, which is my own arithmetic and assumes every outlet has traded for the same time. The company has not said how many opened in the past year, or what an outlet costs to open and when it breaks even.

Those two answers would show whether the growth can be repeated.

A central kitchen before a second city

Over the next twelve months Hundo plans to spend on production capacity, technology, organisation and a corporate team, and to enter one new city that it has not named. The centrepiece is a 5,000 sq ft electric central kitchen in Andheri East with Italian ovens and processes based on food safety standards, plus a research space for new menu items. The company also says it is working on sensors that track refrigerator and oven temperatures across outlets. A central kitchen can keep recipes and quality the same everywhere, but it also adds fixed costs that only a larger network can carry, so the order of the plan matters: kitchen first, then outlets.

What delivery-first means in practice

The company designed its menu and packaging for delivery. It says its boxes are ventilated to keep pizzas from going soggy in transit, that about 90% of its packaging is eco-friendly, that it delivers until 4 a.m., and that food wastage runs at about 0.5%. These figures come from the company and have not been checked independently. The menu goes beyond classics such as pepperoni, with Korean bulgogi pizzas and a Guntur chilli pesto, along with pasta, sides and desserts. Hundo is also looking at events and catering.

A crowded category, with big changes

Titan Capital, which has backed xStep in a very different sector, calls pizza one of India's most loved food categories. The segment is also in motion at the top, as Yum Brands agreed in June to sell Pizza Hut for $2.7 billion, though that deal covers the global business. Small food brands are drawing smaller cheques too, such as Biryani Bees' $1 million from a family office, and we listed the day's other deals in our funding roundup for 12 November.

In my view, Hundo's pitch is stronger on operations than on novelty, since most pizza brands now promise quality ingredients and fair prices. What will decide the next stage is whether a new city can match Mumbai's order density and delivery times.