BENGALURU: Food service platform Kouzina Food Tech will now manage operations, innovations and growth of Swiggy’s food brands- The Bowl Company (TBC), Homely, Soul Rasa and Istah, in an exclusive license deal.
The deal comes amid exponential growth in the country’s food delivery, QSR, and cloud kitchen markets.
Founded by IIT/IIM alumni and leaders from Ola, Flipkart, and Amazon, Kouzina plans to take the company public within the next five years.
Upon fulfillment of certain pre-agreed conditions, Swiggy will transfer full ownership of these brands to Kouzina, the food and grocery delivery major said in a statement.
““This transaction further cements our position as a leading food services company in India and accelerates our growth trajectory,” said Gautam Balijepalli, Co-founder & CEO of Kouzina.
Under Kouzina, these brands will be scaled and expanded into new markets through its asset-light expansion model.
“Homely is live in select Bangalore locations, with The Bowl Company launching later this week. We’re also preparing to expand to more cities soon,” he said.
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