November 2, 2016
PUBLISHED BY Jonathan Maze
SOURCE Nations Restaurant News
Ando, the delivery-only online restaurant from Momofuku founder David Chang, has closed a $7 million, Series A financing round to help the concept expand its delivery reach throughout New York City, the company said Tuesday.
Forerunner Ventures, an early-stage investor known for investments in companies such as Dollar Shave Club, led the funding round, along with other early-stage funds BoxGroup and Wildcat Venture Partners.
Other angels come from a remarkably wide array of backgrounds, from Estee Lauder chairman William Lauder and SoulCycle founder Elizabeth Cutler, to comedians Jimmy Fallon and Aziz Ansari. Dick Boyce, the former chairman of Burger King, is also among the group.
The funds will be used to build operational capacity to help Ando expand delivery across New York City.
“Mobile technology has completely transformed our daily lives, and it’s certainly impacting the overall dining experience with the ease of delivery,” Chang said in a statement.
The company also indicated an interest in taking its offerings beyond New York.
“Our goal is to grow our menu offerings and expand beyond New York, creating delicious food and pushing the limits of delivery,” Hooman Radfar, co-founder and CEO of Ando, said in a statement.
The deal is a first for Chang, who has avoided taking on venture capital. He called Ando “a very special case, since we’ve always wanted to do delivery with Momofuku.”
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