The startup, backed by Nikhil Kamath and Narotam Sekhsaria Family Office, will expand its curated premium food and digital business across Indian cities, tapping into the growing experience-led consumption market.
Foodstories, a burgeoning player in India's premium food retail segment, has successfully secured ₹50 crore in fresh funding, primarily from investor Nikhil Kamath and with continued participation from the Narotam Sekhsaria Family Office. This significant capital infusion underscores a growing investor appetite for curated, experience-led food consumption models targeting affluent urban consumers across the subcontinent, signaling a maturation in India's diverse retail landscape.
The latest funding round aims to propel Foodstories' expansion, bolstering its digital business, broadening its delivery network, and facilitating further retail footprint growth across key Indian cities. Founded by sisters Ashni Biyani and Avni Biyani, the enterprise generated ₹33.9 crore in revenue for the fiscal year 2025 and reported a workforce of 289 employees as of August 2025, demonstrating triple-digit growth during its inaugural year of operations. This trajectory positions Foodstories at the vanguard of a discernible shift in consumer spending habits, moving beyond traditional grocery formats towards specialized, high-quality offerings.
Foodstories operates a distinctive model that integrates specialty food retail with hospitality and digital commerce, meticulously curating products from artisanal producers, local farmers, chefs, and bakers. This approach caters to a demographic increasingly willing to pay a premium for quality, verifiable provenance, and unique culinary experiences, diverging sharply from the mass-market retail paradigms that historically defined the Biyani family's entrepreneurial legacy. The investment highlights a strategic bet on the enduring profitability of niche, high-value consumer segments within India's rapidly expanding economy, driven by rising disposable incomes and evolving lifestyle aspirations.
What It Means
This capital raise for Foodstories signifies more than just an investment in a food startup; it reflects a crucial pivot in India's consumer market, emphasizing the accelerating trend of premiumization across various sectors. The Biyani family, renowned for pioneering modern mass retail with ventures like Big Bazaar, is now channeling capital and expertise into a starkly different consumption narrative, targeting discerning urbanites rather than the broad middle class. This strategic shift underscores a conviction that India's economic growth has created a substantial segment of consumers for whom quality, experience, and brand narrative outweigh price sensitivity, influencing purchasing decisions from fashion to gourmet groceries.
The move also highlights investor confidence in businesses that successfully blend physical retail with digital integration and community engagement. Foodstories’ model, focused on creating experiential hubs and leveraging a robust digital layer for discovery and delivery, aligns with global trends where consumers seek more than just transactions; they desire engagement and curated experiences. This hybrid approach allows for scalability while maintaining the perceived exclusivity and quality integral to the premium brand identity, crucial for unlocking higher margins and fostering customer loyalty in a competitive landscape.
Nikhil Kamath's involvement further amplifies the broader trend of high-profile investors backing ventures that address fundamental shifts in consumer behavior and wellness. His rationale, focusing on infrastructure for "better food" and founder understanding of both product and business, points to a sophisticated investment thesis that values long-term foundational plays over fleeting trends. This perspective suggests that the investment in Foodstories is not merely a bet on a single company but on the structural transformation of India's food ecosystem towards healthier, more sustainable, and premium-oriented options, providing a long-term growth runway.
₹50 Crore Funding
Foodstories secured ₹50 crore in its latest funding round, spearheaded by Nikhil Kamath, signaling robust investor confidence in India's premium food retail sector.
Background
The founders, Ashni Biyani and Avni Biyani, bring a wealth of experience from their family's deep roots in Indian retail, including their previous stewardship of Foodhall, a gourmet food retail chain that operated 10 outlets nationwide before concluding operations. Their current venture, Foodstories, emerges from Think9 Consumer Technologies, a startup studio they established to incubate brands across diverse categories, including apparel, beauty, health and wellness, and food. Think9 Consumer Technologies reported a revenue of ₹36.5 crore in the fiscal year 2024, marking a 44% increase from the preceding year, showcasing the founders' continued prowess in identifying and nurturing consumer-centric businesses.
The investment by Nikhil Kamath, a prominent figure known for his ventures in financial services and strategic investments, reflects a broader thesis on the foundational role of quality food in personal well-being and lifestyle. Kamath stated that Foodstories is one of the few platforms actively building the essential infrastructure for superior food discovery and consumption, attributing his confidence to the founders' comprehensive understanding of both the product offering and the underlying business model. This strategic alignment between investor and entrepreneurial vision underscores a shared belief in the enduring value proposition of curated, high-quality food experiences.
Foodstories currently operates physical retail locations in Delhi, Bengaluru, and Hyderabad, having recently expanded its presence into Mumbai with a flagship outlet in Bandra. Plans are already in motion for a second Mumbai location in Lokhandwala, demonstrating an aggressive, yet measured, retail expansion strategy. This geographical spread is critical for establishing a national presence and catering to the diverse culinary preferences and purchasing power within India's major metropolitan areas, solidifying its position within the burgeoning premium food ecosystem.
The fresh capital injection will be strategically deployed to enhance Foodstories' digital capabilities, expand its efficient delivery network, and support this continued retail growth. While India's premium food retail segment remains a niche compared to more developed global markets, it is attracting increasing investor attention due to its potential for exponential growth. This growth is driven by a combination of factors, including rising discretionary incomes, increased global exposure influencing consumer tastes, and a pronounced shift towards health-conscious and traceable food products.
Industry analysts project the Indian gourmet food market, estimated at approximately $10.91 billion in 2025 and constituting roughly 2% of the global market, to experience substantial expansion by 2033. This growth trajectory is poised to be a defining theme in India's consumer economy over the next decade, with premiumization extending across various categories from beauty and wellness to food and beverages. Foodstories' ambition to build a ₹1,000 crore business by combining curated retail, hospitality-led experiences, and digital commerce positions it as a key player to watch in this transformative phase of Indian consumption.
Frequently asked questions
Who invested in Foodstories' recent funding round?
Foodstories recently secured ₹50 crore in fresh funding. The primary investor in this round was investor and entrepreneur Nikhil Kamath, with continued participation from the Narotam Sekhsaria Family Office, an early backer of the company.
What is Foodstories' business model?
Foodstories operates at the intersection of speciality food retail, hospitality, and digital commerce, curating premium products from various producers for urban consumers.
Who are the founders of Foodstories?
Foodstories was founded by sisters Ashni Biyani and Avni Biyani, who previously spearheaded Foodhall.
How much revenue did Foodstories report in FY25?
Foodstories reported a revenue of ₹33.9 crore for the fiscal year 2025.
Which Indian cities does Foodstories operate in?
Foodstories currently operates stores in Delhi, Bengaluru, Hyderabad, and recently entered Mumbai with a flagship outlet in Bandra, with another Mumbai location planned.
What is the projected growth of the Indian gourmet food market?
The Indian gourmet food market, estimated at $10.91 billion in 2025, is projected to grow significantly by 2033, driven by demand for premium and traceable food products.
