The Dough Therapy Raises ₹5.25 Crore Seed Funding Led by Michigan Capital Advisors
The company said the latest investment will support the next phase of its growth by strengthening its outlet network as well as the supply chain, centralised operations and kitchen infrastructure.
Mumbai-based gourmet pizza brand The Dough Therapy has raised ₹5.25 crore in its first institutional seed funding round at a reported valuation of ₹35 crore.
The round was led by Michigan Capital Advisors (MCAL), formerly known as Melwani Finance, with participation from Equiglobe Investment.
The company will use the fresh capital to expand its presence in Mumbai and support its plans to enter additional cities. Around 60% of the funding has been allocated towards expansion, while 15% will go towards marketing. The remaining 25% will be used for supply chain infrastructure, centralised operations and kitchen technology.
Founded in 2020 by Abhishek Dedhia, Mohit Chheda and Gaurav Majrekar, The Dough Therapy started with an outlet in Matunga in November 2020 and has since grown to 10 outlets across Mumbai. The brand offers more than 30 varieties of vegetarian and vegan gourmet pizzas.
The company’s outlet expansion has included locations in Kandivali, Chowpatty, Lower Parel, Bandra, Mulund, Juhu and Ghatkopar, in addition to its original Matunga outlet. The company’s own outlet information records Ghatkopar as its most recent listed Mumbai opening, in May 2024.
The Dough Therapy plans to double its outlet network to 20 locations over the next 12 months while entering new cities across India. Its expansion strategy will combine company-owned outlets, select dine-in formats and franchise partnerships, allowing the brand to expand across markets while maintaining control over its product and operating processes.