StartupFox

The Dough Therapy has raised ₹5.25 crore at a valuation of ₹35 crore in a seed round led by Michigan Capital Advisors, formerly known as Melwani Finance, with participation from Equiglobe Investment. It is the company's first institutional funding.

Abhishek Dedhia, Mohit Chheda and Gaurav Majrekar, three friends, founded the Mumbai brand in November 2020. It has grown from a single outlet to 10 across Mumbai and serves more than 30 varieties of gourmet pizza, all vegetarian or vegan.

The company plans to reach 20 outlets within the next 12 months and to enter new cities, using a mix of company-owned outlets, selected dine-in formats and franchise partnerships. It says 60 percent of the money will go into expansion, 15 percent into marketing and 25 percent into supply chain infrastructure, centralised operations and kitchen technology.