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Ghost Kitchens India acquires Shy Tiger Brands

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Ghost Kitchens India has announced the acquisition of Shy Tiger brands, a cloud kitchen company based out of Ahmedabad. The acquisition comes on the heels of Ghost Kitchens’ equity and debt round of $5 million earlier in February 2024. Founded in 2018 by Milapsinh Jadeja, Shy Tiger has five multi brand cloud kitchens spread across Ahmedabad. The firm’s portfolio includes iconic brands like KBOB’s and The Black Chimney. With this acquisition, Ghost Kitchens will amplify its presence in Gujarat by integrating its existing brands in Shy Tiger’s infrastructure. Ghost Kitchens operates through 15 company owned and operated cloud kitchens in Mumbai and Ahmedabad, and 1,200 internet restaurants across 40 cities in India. Earlier in 2022, Ghost Kitchens had acquired a technology company-WTF which helped them create their proprietary technology. Additionally, Ghost Kitchens acquired Speak Burgers by celebrity Chef Vicky Ratnani in February 2023 to grow the partnership through 25 offline retail stores in the next 18-24 months. According to a Redseer report, the estimated size of the cloud kitchen market would touch $3 billion by 2024, from $400 million in 2019. Moreover, top startups operating in the segment mopped up around $600 million in funding in the past three years and close to $1 billion since their inception, according to the startup intelligence platform TheKredible.