TheDough Therapy Secures ₹5.25 Crore Seed Funding at ₹35 Crore Valuation, Sets Sights on Rapid Expansion
The Dough Therapy is ready to take its Mumbai success story to a much bigger stage. The gourmet pizza brand has raised ₹5.25 crore at a company valuation of ₹35 crore in its first institutional seed funding round, led by Michigan Capital Advisors Ltd. (MCAL), formerly known as Melwani Finance Limited, with participation from Equiglobe Investment Pvt. Ltd. The fresh capital will fuel the brand’s expansion in Mumbai and support its move towards a multi-market growth strategy, where the funds will be allocated 60% for expansion, 15% for marketing, and 25% for supply chain infrastructure, centralised operations, and kitchen technology.
It started with a simple goal: to approach vegetarian pizza with the same ambition, indulgence, and attention to flavour as any gourmet offering. In November 2020, three friends turned that idea into reality with a single outlet in Mumbai. Since then, The Dough Therapy has grown into a 10-outlet brand with more than 30 gourmet varieties of 100% vegetarian and vegan pizzas on its menu. Built around taste, quality, and variety, the brand has steadily developed a mix of new and returning customers, giving it a proven base from which to pursue its next stage of expansion.
Adding to that, the brand is planning to increase its presence with 20 outlets over the next 12 months. The next phase will see The Dough Therapy bring its gourmet pizza offering to new cities across India. But it is only the beginning of a broader multi-city strategy, focusing on its new chapter. The brand is deliberately steering away from a one-size-fits-all approach, combining its own outlets with select dine-in formats and franchise partnerships to create a more agile expansion model. This approach allows it to grow its footprint while staying closely connected to the product, quality, and experience that have built its customer base to date. The next phase, therefore, is not simply about how many outlets the brand can open but how effectively it can take its proposition into new markets.
Abhishek Dedhia, Founder, The Dough Therapy, said, “From the beginning, our focus, along with my co-founders Mohit Chheda and Gaurav Majrekar, has been to build The Dough Therapy around the food, the customer, and the experience, and to create a brand that could grow without losing what made it special in the first place. This investment is an important milestone for us because it gives us the opportunity to take that vision to a much larger scale. Also, Raghav Chaudhary, Founder of Tiger Assets, deserves a special mention for making this happen by visualising the potential in our business and bringing the right investors together for our future plans. With their backing, we are ready to move from building our presence in Mumbai to creating a much larger, multi-market brand.”
For the founders, the investment is an opportunity to build on what they have created over the last few years and take The Dough Therapy to a wider audience. For the team, the focus will remain on growing the business while staying true to the food and customer experience that have been central to the brand since its beginning.
About The Dough Therapy:
Founded in Mumbai in November 2020, The Dough Therapy began as a venture by three friends, including Abhishek Dedhia, Mohit Chheda, and Gaurav Majrekar, with a shared love for good food. The brand has grown from one outlet to 10 outlets across Mumbai and offers more than 30 varieties of 100% vegetarian and vegan gourmet pizzas. With a focus on taste, quality, and variety, The Dough Therapy has built a growing base of new and returning customers across the city in just a span of five years.