Mumbai-based gourmet pizza brand The Dough Therapy has raised ₹52.5 crore in a Seed funding round at a valuation of ₹35 crore. The round was led by Michigan Capital Advisors, formerly known as Melwani Finance, with participation from Equiglobe Investment. The company plans to use the fresh capital to expand its Mumbai presence and support a broader multi-market growth strategy.
Investor Participation and Valuation
Michigan Capital Advisors, formerly known as Melwani Finance, led the Seed round, with participation from Equiglobe Investment. The funding values The Dough Therapy at ₹35 crore and reflects confidence in its gourmet pizza model and growth potential. The company said the investment marks a significant milestone as it prepares to scale.
Funding Allocation and Operational Priorities
The Dough Therapy has outlined a clear plan for deploying the new capital. Around 60% of the funds will be directed toward expansion, 15% will be allocated to marketing, and the remaining 25% will support supply chain infrastructure, centralized operations, and kitchen technology. This allocation is designed to scale the store network while maintaining operational consistency and product quality.
Company Origins and Mumbai Growth
The Dough Therapy was founded in 2020 by Abhishek Dedhia, Mohit Chheda, and Gaurav Majrekar. Starting with a single outlet, the company has grown to 10 locations across Mumbai, supported by a focused menu and a consistent customer experience. The brand's expansion in the city has been steady over the past few years.
Product Portfolio and Customer Base
The menu features more than 30 varieties of vegetarian and vegan gourmet pizzas, which gives the brand a distinct position in the pizza segment. The company has built a mix of new and returning customers across its Mumbai outlets. That customer base is expected to provide a stable demand platform as the brand enters additional markets.
Expansion Targets and Multi-Format Growth
The Dough Therapy plans to reach 20 outlets within the next 12 months. Beyond Mumbai, the brand intends to enter new cities across India with its gourmet pizza offering. It will use a combination of company-owned outlets, select dine-in formats, and franchise partnerships as part of its overall expansion strategy.
Operational Strengthening for Scale
A significant portion of the funding will be used to strengthen supply chain infrastructure, centralized operations, and kitchen technology. These investments are intended to improve consistency and efficiency as the number of outlets grows. The company expects the operational upgrades to support its entry into new cities and its expanded store network.
Founder Team and Market Vision
The founding team has taken the brand from a single location to a 10-outlet business in Mumbai. With the new Seed funding, the company is preparing for a larger expansion push and a stronger operational foundation. The founders aim to build a scalable gourmet pizza brand across multiple Indian cities.
The Dough Therapy's Seed round highlights growing investor interest in specialized food and beverage brands with a defined market niche. The company's plan to double its outlet count and enter new cities signals a clear growth trajectory. By combining expansion funding with operational improvements, the brand is positioning itself to compete in India's evolving gourmet pizza segment.