Published: October 8, 2026
StartupFeed Quick Take
- The Dough Therapy raised Rs 5.25 crore in its first institutional seed round, at a Rs 35 crore valuation.
- Grew from 1 outlet in 2020 to 10 across Mumbai; targeting 20 within 12 months.
- Michigan Capital Advisors led, with Equiglobe Investment; 60% of funds go to new outlets.
Mumbai gourmet pizza brand The Dough Therapy has raised Rs 5.25 crore in its first institutional seed round, valuing the company at Rs 35 crore.
Michigan Capital Advisors, formerly Melwani Finance, led the round, with Equiglobe Investment also taking part. At Rs 35 crore, the Rs 5.25 crore works out to about 15% of the company’s value.
Founded in November 2020, The Dough Therapy was built by Abhishek Dedhia with Mohit Chheda and Gaurav Majrekar. The brand sells more than 30 kinds of pizza, all vegetarian or vegan.
The Dough Therapy has grown from one outlet to 10 across Mumbai. It now wants 20 within a year, entering new cities through company-owned stores, dine-in sites and franchise partners.
Where The Dough Therapy Will Spend the Funds
Its funding announcement sets aside 60% of the money, about Rs 3.15 crore, for new outlets.
The rest is split two ways. About Rs 1.31 crore goes to supply chain, central operations and kitchen technology. Marketing gets roughly Rs 79 lakh.
That expansion pot works out to about Rs 31.5 lakh for each of the 10 new outlets. Franchise partners may fund some of The Dough Therapy’s new outlets, which would lower what the brand itself spends.
Dedhia framed the raise as a turning point for the brand.
“This investment is an important milestone for us because it gives us the opportunity to take that vision to a much larger scale.”
Abhishek Dedhia, founder, The Dough Therapy. From the company statement, October 7, 2026.
What this means for you: If you run a small restaurant or cloud-kitchen chain raising its first institutional round, The Dough Therapy is a fresh comparison. Benchmark your ask against its Rs 35 crore valuation at 10 outlets before you pitch investors this quarter.
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