Zoha Foods plans to raise $5 million to fund its expansion plans.

Zoha Foods Private Limited, which operates Foodys.in, an e-commerce portal that facilitates online ordering of food from various restaurants by customers, proposes to raise $5 million (about Rs. 30 crore) from venture capitalists to fund its pan-India expansion.

'We are holding discussions with two Indian and one multinational venture capitalists and are hopeful of raising the required funds by March 31, 2015,' Zoha Foods founder and CEO, Naeem Khan, told mediapersons.

He said the three-year-old company clocked revenues Rs 1.4 crore in 2013-14 and has targeted to achieve Rs 2.1 crore in the current fiscal.


BS