Pyor, Speed Kitchen raise early-stage funding



Web3 platform Pyor and cloud kitchen startup Speed Kitchen have raised early-stage funding, the companies said on Thursday.  

Web3 startup Pyor has raised $4 million (Rs 33 crore) in a seed funding round led by Castle Island Ventures.  

The round also saw participation from Hash3, Antler, Future Perfect Venture, Force Ventures, CoinSwitch Ventures, Coinbase Ventures and angel investor Balaji Srinivasan.  

The Bengaluru-based startup will use the fresh capital for product development and hiring.  

Founded in August 2022 by Krishna Hegde, Sarmad Nazki, Sharan Nair and Yadunandan Batchu, Pyor aims to provide insights on digital assets through a desktop analytics interface. 

“Digital assets are primarily driven by retail investors, and institutional-grade infrastructure for decision-making has been limited. Despite digital assets having a market capitalization of $1 trillion, there is a need for effective data infrastructure to facilitate institutional participation,” said Hegde, co-founder, Pyor. 

Cloud kitchen startup Speed Kitchen has secured an undisclosed amount in a seed funding round led by Inflection Point Ventures. The round also saw participation from undisclosed high-net-worth individuals (HNIs) and angel investors.   

The New Delhi-based startup will use the funding to expand its operations geographically in India and to strengthen the team. 

Founded in 2021 by Paurav Rastogi and Shamin Kapoor, Speed Kitchen is a cloud kitchen firm targeting delivery-focused brands. It provides such brands fully operational cloud kitchens along with end-to-end maintenance services as well.   

“We are aiming to expand to 20 locations and cross 200 operational kitchens by the end of FY 23-24,” said Paurav Rastogi, founder and chief executive officer, Speed Kitchen.  

It is currently operational in 5 cities with 10 locations and 120 kitchens.