Urban Harvest raises Rs 341.4 crore Series D to expand B2B food supply footprint

The B2B food-supply platform, which serves about 16,000 restaurants and cloud kitchens monthly, plans to expand into Hyderabad, Mumbai and Jaipur. Urban Harvest reported Rs 385 crore FY26 revenue and is targeting Rs 1,500 crore in FY27.

— Source publishedMon, 27 Jul, 2026, 17:59 IST·First seen Mon, 27 Jul, 2026, 18:08 IST·Source YourStory · Capital

What happened

B2B food-supply platform Urban Harvest raised Rs 341.4 crore in a Series D round. The company supplies restaurants and cloud kitchens, serves about 16,000

Key facts

  • Rs 341.4 crore Series D raise
  • 58 investors
  • 42,013 compulsorily convertible preference shares
  • Rs 81,260 per share
  • 16,000 restaurants served monthly
  • Rs 385 crore FY26 revenue
  • Rs 1,500 crore FY27 revenue target

Why this matters

Food distributors, logistics players and restaurant-tech platforms should view Urban Harvest’s three-city expansion as a partnership or competitive-response opportunity in a rapidly consolidating B2B supply market.

What to watch

  • Launch timing and number of active restaurant and cloud-kitchen customers in each new city.
  • Monthly order frequency, average order value and repeat rates after city entry.
  • Gross margin, fulfillment cost per order, spoilage levels and contribution-margin trajectory.
  • Days sales outstanding, bad-debt provisions and working-capital intensity.
  • New supplier partnerships, direct-farm sourcing agreements and cold-chain infrastructure additions.
  • Evidence of enterprise contracts with restaurant chains or cloud-kitchen operators.
  • Progress toward the Rs 1,500 crore FY27 revenue target and any revision to that guidance.
  • Open or partner for city-level fulfillment hubs and temperature-controlled last-mile capacity in Hyderabad, Mumbai and Jaipur.
  • Prioritize high-frequency restaurant clusters, cloud kitchens and chain accounts to build delivery density before broad geographic rollout.
  • Use funding to deepen direct sourcing and private-label staples, produce and proteins to improve gross margin and supply reliability.
  • Tighten customer credit underwriting, invoice collection and inventory forecasting as revenue scales.
  • Recruit category procurement, city operations and enterprise-sales leadership ahead of launch waves.

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