Mumbai-based delivery-first pizza brand Hundo Pizza has raised Rs 7.5 crore in its first institutional funding round, led by Titan Capital. The investment firm was founded by entrepreneurs Kunal Bahl and Rohit Bansal.
Indian Silicon Valley Capital (ISVC), Ankur Rangnekar, Akshay Rangnekar and angel investor Haresh Chawla also participated in the round, according to the startup. Wavelength Partners acted as the deal advisor.
Hundo Pizza plans to use the fresh capital to expand its presence in Mumbai, enter another city and strengthen its production infrastructure. The company is targeting an annualised revenue run rate of Rs 60 crore in FY28.
Revenue Target
Brand reported revenue of Rs 18 crore in FY26 and said it is currently operating at an annualised revenue run rate of Rs 35 crore. Its FY28 target represents an increase of around 71% over the current run rate.
An annualised revenue run rate estimates a company revenue level by projecting its recent sales over a full year. It is different from reported annual revenue, which is based on actual sales during a completed financial year.
Hundo Pizza currently operates seven outlets across Mumbai. The company has largely built its business through bootstrapping. According to Tracxn, it raised around $40,100 from two individual investors in February 2022, before securing its latest institutional funding.
Production Capacity
As part of its expansion plans, Hundo Pizza is setting up a 5,000 sq ft central kitchen and production facility in Andheri East, Mumbai. The company said the facility will be fully electric and will support production as it increases the number of outlets.
Over the next 12 months, the startup plans to invest in production capacity, technology and organisational capabilities. It is also exploring additional revenue channels, including catering and events.
The central kitchen is expected to support its operations as the brand expands beyond its existing outlets. The company has not disclosed the name of the next city it plans to enter or the timeline for that launch.
Business Model
Founded in 2020 by Kabir Moorjani and Ronak Rajani, Hundo Pizza began operations in August that year in Bandra West, Mumbai. It started as a delivery-first business and also offered drive-through services.
The brand specialises in Neo-Neapolitan-style pizzas, using ingredients such as San Marzano tomatoes and fresh buffalo mozzarella. Its operating model is built around serving customers through its outlets and delivery channels.
Moorjani is the co-founder and chef. He studied at Les Roches International School of Hotel Management and Le Cordon Bleu Paris. Before starting Hundo Pizza, he founded Thai restaurant Aroi Mumbai. Rajani leads growth and marketing. He also founded Mumbai Foodie, a food discovery platform acquired by Swiggy in 2024.
Pizza Market Competition
Hundo Pizza operates in a market that includes large national and international chains. Domino's India, operated by Jubilant FoodWorks, had 2,513 outlets as of June 2026, according to media reports.
Pizza Hut operates in India through two franchise partners, Devyani International and Sapphire Foods. The two companies together ran 987 outlets, according to the same reports.
The scale of these established chains means Hundo Pizza will be expanding in a competitive market as it looks to build its outlet network and production capacity.
Estimated Market Size
India pizza market was valued at $5.44 billion in 2025 and is projected to reach $9.33 billion by 2031, growing at an estimated annual rate of 9.46%, according to research firm TechSci Research.
The market growth estimate provides the broader industry context for Hundo Pizza expansion plans. However, the company will need to increase sales and operational capacity to meet its stated FY28 revenue target while entering new markets.
