Hundo Pizza Gets ₹7.5 Cr to Put Mumbai's Pizza Brand on the Map

Mumbai-based pizza brand Hundo Pizza has raised ₹7.5 crore in its first-ever institutional funding round, led by Titan Capital the venture firm started by Snapdeal founders Kunal Bahl and Rohit Bansal.

The round itself is small by startup standards. What makes it notable is the math behind it: Hundo closed FY26 with ₹18 crore in revenue, but is already running at an annualised rate of ₹35 crore nearly double its last full year, without having taken a single institutional rupee until now.

That’s the real story here a pizza brand that grew fast and stayed profitable enough to not need outside money for six years, choosing to raise now specifically to leave its home city.

The Details

• Amount raised ₹7.5 crore, first institutional round
• Lead investor Titan Capital
• Also participating Indian Silicon Valley Capital (ISVC), angels Ankur Rangnekar, Akshay Rangnekar, and Haresh Chawla
• Deal advisor Wavelength Partners
• Prior funding: $40,100 (~₹33 lakh) from two individual investors in Feb 2022 essentially a rounding error compared to this raise
• Implied growth FY26 revenue of ₹18 Cr has already nearly doubled to a ₹35 Cr run rate within the same year

Built for Delivery, Not Dine-In

Kabir Moorjani and Ronak Rajani founded Hundo in 2020, opening in Bandra West with delivery and drive-through only no dine-in seating.

That’s a deliberate cost structure choice. Skipping dine-in real estate is exactly how a six-year-old brand stayed bootstrapped while scaling revenue.

Rajani brings a relevant edge here he previously founded Mumbai Foodie, which Swiggy acquired in 2024, giving him direct experience in what food platforms and growth-stage investors actually look for.

Hundo now runs seven outlets across Mumbai, with its newest in Sakinaka, Andheri East and the next phase is a 5,000 sq ft electric central kitchen in the same location, meant to support both scale and a new city launch.

Tiny Cheque, Big Ambition

₹7.5 crore is a strikingly small round for a brand already generating a ₹35 Cr run rate most companies at this revenue level would be raising 5-10x that amount.

That gap suggests Hundo isn’t raising to survive; it’s raising to fund a specific, bounded next step one new city, one central kitchen, and some technology and team building, not a multi-city blitz.

The target is ₹60 crore ARR by FY28, which is a modest ~1.7x climb from today’s run rate over roughly two years a conservative, executable goal rather than a hockey-stick promise.

What the Numbers Don’t Tell You

A founder-run, profitable pizza brand raising a small, first institutional round after six years of bootstrapping is a different risk profile than a typical VC-backed QSR chain burning cash to land-grab cities.

The real test isn’t the capital it’s whether Hundo’s Mumbai playbook, built entirely around delivery economics and no dine-in overhead, survives contact with a new city’s delivery radius, local competition, and real estate costs.

India’s pizza category already has large organised chains fighting for share, and homegrown delivery-first brands rarely get a second city right on the first attempt.

The Bottom Line

Hundo Pizza didn’t need investors to grow in Mumbai it’s bringing one in specifically to find out if the model travels.