Significant numbers of people are looking for ways to get healthy and most of them do it by working out. Ripsey is a full-stack solution for those who are looking to eat healthy.
Silky Singh, CEO & CTO, Ripsey, said, “We have interacted with more than 2,000 consumers, who had lots to say about being healthy. Most of them don’t know how to go about it, a good number of people have issues sticking with a diet that’s part of their work-out regime as the food can get boring. Bunch of them are limited by skills to cook the right food, and it almost always lacks variety. And there is a notion that healthy food is bland as it’s mostly soups and salads. We found our product fit right there and Ripsey is born.”
“We think of food as a preventive measure to illness. It helps build immunity. We believe in doing everything in-house, so we have control over the food and we can promise quality, hygiene and safety,” she added.
Ripsey was founded with an aim to be a deep-tech platform with Health Food as A Service.
Singh further stated, “The biggest challenge that I have faced when I was trying to get fit, was my inability to stick to a diet regime as it often gets boring, and most of the diet plans need supplementation via a range of multi-vitamins and protein powders. The idea of Ripsey was born out of the fact that food is our primary source of nutrients, and we should rely on food to achieve fitness. Most people have health goals that they want to achieve and Ripsey is their health goal partner. Ripsey is a character, your nutritionist, your chef, your motivator to be healthy.”
Ripsey offers health plans like Stay Fit, Muscle Gain, Fat Loss as well as Keto through short term subscription options for 5 days or 4 weeks, and provides a multi-cuisine menu.
Pluckk, an innovative digital lifestyle fresh food business, has announced the purchase of Upnourish, a rapidly expanding nutrition brand in India. The $1.4 million contract is a major achievement for both businesses as it opens up opportunities for the development of a new nutrition-focused vertical.
Upnourish, a venture by 23BMI Life Sciences Pvt Ltd, was founded in 2021 by Aayushi and Kunal Lakhapati. With its award-winning meal replacement products including smoothies, soups, and bars along with customised nutrition regimens, Upnourish is revolutionising the nutrition sector. Their creative method tackles a number of health issues, including diabetes, PCOD, high cholesterol, and weight control. Leading online retailers including Amazon, Flipkart, Reliance Freshpik, and Godrej Nature's Basket offer their items throughout India.
The only Indian meal replacement brand with a wide variety of smoothie flavors is Upnourish. The target market for Upnourish is primarily from Tier 1 and Tier 2 Indian cities and typically consists of men and women in the age range of 28 to 55. By providing over 300 fruits, veggies, meal kits, juices, dips, soups, smoothies, salads, and other products directly to customers while avoiding middlemen, Pluckk redefines the term "farm-to-table." Pluckk uses cutting-edge techniques like traceability and ozone cleaning to guarantee the freshest, best-quality fruit.
Commenting on the acquisition, Pratik Gupta, CEO, of Pluckk said: “We are taking our commitment of providing the best quality fresh food to Pluckk’s customers to the next level by adding a nutrition dimension. We are thrilled to welcome Upnourish into the Pluckk family as this move directly benefits Pluckk customers. Their products have truly transformed the lives of their customers by making it easy to solve on-the-go nutrition needs through their meal replacement smoothies, soups and bars.”
Aayushi Lakhapati, Chief Nutritionist & Co-Founder, of Upnourish added, “With our current hectic lifestyles, the vast majority of people do not prioritize nutrition. We are solving this nutrition problem through easy-to-use and tasty meal replacement smoothies, soups, and bars in several exciting flavours that are convenient and accessible to all. With Pluckk’s commitment to clean and fresh produce, Upnourish will elevate their offering thereby enabling holistic health to a much larger audience.”
Cookr, an early-stage home food tech marketplace startup, secures USD 1 Million (INR 8.25 Crores) pre-seed investment from a diverse group of angel investors, including employees and alumni of Microsoft, Amazon, Intel, TITAN Company, and founders of M2P Fintech, WilcoSource LLC, RXDataScience Inc, Quadrand Resouce LLC, and The Social Company to scale its innovative home kitchen food marketplace.
Founded in 2022 by Praba Santhanakrishnan, Saravanakumar(SK) Kandasamy, and Nirmalkumar Muthu, the vision is to nourish humanity with wholesome food and spread the joy of well-being, offers a range of nutritious and hygienic home-cooked food options with over 500 home cooks on the platform, catering to customers' dietary needs and preferences.
"We see that there is a huge demand for healthy home-made food and long shelf-life food products, and we are excited to offer a solution that will cater to this rapidly growing market,” shared Praba Santhanakrishnan, Co-founder and CEO of Cookr.
Cookr is currently operational in nine cities in Tamil Nadu: Coimbatore, Madurai, Trichy, Hosur, Chidambaram, Thanjavur, Salem, Vellore, and Kumbakonam.
It intends to be operational in Puducherry and Chennai by the end of this month with pan-India expansion in the pipeline.
“I am excited to partner with Cookr and support their mission to make healthy eating accessible and convenient in India. The food technology industry in India is ripe for disruption, and Cookr's innovative approach to providing healthy alternatives to traditional restaurant-delivered meals is exactly what the market needs. I look forward to working with the Cookr team and watching them grow and succeed,” added Arun Viswanathan, Software Development Manager, Amazon, USA.
The company is also aiming to onboard 2,00,000 home cooks over the next 5 years.
The funding will be used to add more features to the platform, expand the team, and launch the marketplace across India, making healthy eating more accessible to people across the country. Cookr's app is available on the App Store and Google Playstore.
Retail-Tech startup Daalchini has raised $4 million in a Series A round led by Unicorn India Ventures.
The round also saw participation from prominent and existing investors like Artha Venture Fund, Ajay Kaul – former CEO of Dominos India, and VSS Investco – the investment vertical of Vijay Shekhar Sharma – CEO of Paytm.
So far, this is the largest round raised by a company in the smart vending segment.
“The RetailTech segment of India is going through a massive transition from its traditional physical store form to a digital one, the speed of which has been intensified by the pandemic. In this phase, Daalchini represents the best of both worlds with a ubiquitous physical presence backed by a strong technological framework that prioritizes its customers’ needs and convenience,” shared Ruchi Pincha, Investment Associate, Unicorn India Ventures.
A large part of this funding will be deployed to expand their industry footprint and further their tech capabilities. The Company wants to make its solutions asset-efficient and accessible to c10 million retail points in India and 450+ F&B D2C brands.
Founded in 2017 by ex-Paytm colleagues Prerna Kalra and Vidya Bhushan, Daalchini takes affordable snacks and home-style meals to its customers through technology-efficient models like automated kiosks, mobility retails, and smart vending machines.
Currently, the Daalchini app has more than 2 lakh monthly active users.
Daalchini has grown 300% in the last 12 months, making it one of India’s fastest-growing RetailTech startups. The Company has achieved a Product Market Fit (PMF), with ₹12 crores of revenue in FY2022. More than 90% of their vending machines are EBITA positive within 45 days.
Daalchini aims to clock ₹50 crores in revenues with a GMV of ₹130 crores in 12 months. The Company intends to grow from 850+ to over 5,000 smart and autonomous retail points in the next 12-18 months. The new funding will enable Daalchini to continue executing its growth strategy and strengthen its position as the largest network of smart retail stores.
Setting new milestones in the intelligent retail field, the Company provides a plethora of food and beverage options, available 24*7 and accessible without delivery charges or long wait times.
“Daalchini aims to establish its footprints at every 200 meters of habitable area with its autonomous smart stores and vending machines. Today, our country has just a few thousand vending machines, while the US or Japan has more than one autonomous store for every 200 people. We are far from the true potential of this kind of retail,” added Prerna Kalra, Co-founder & CEO of Daalchini Technologies.
Dineout, the Noida-based dining out and table reservation platform, has acquired a Delhi-based food tech platform Binge Digital.
Binge Digital helps restaurants upsell and increase ticket size with the help of analytics and video menus to their diners. In addition to this, the platform offers in-depth information about the menu at restaurants in addition to restaurant discovery services.
This is the Noida-based company’s fourth acquisition after inResto, Gourmet Passport and Torqus.
This acquisition is in line with Dineout’s latest product announcement Dine-In, which is a digital menu product that enables variable and dynamic pricing for the restaurant industry utilizing data analytics and artificial intelligence. Dine-In allows customers to view digital menus with images directly on their phone and to place an order with just a tap.
Ankit Mehrotra, CEO & Co-founder, Dineout, said, “As a Restaurant technology solutions platform, we are constantly working towards innovating and evolving our portfolio of services. We are happy and excited to announce the acquisition of Binge Digital which through its cutting-edge technology will enable us to bolster our product portfolio, especially Dine-In. With a proven record of their services for their partners through their video menus, this integration will add an edge to our product.”
Prakhar Agarwal, Co-Founder of Binge Digital, stated, “We believe in creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionize the restaurant industry. The same commitment was echoed by Dineout team and we are happy to be a part of India’s largest dining out and technology solutions platform.”
“Our digital video menu showcase has helped our partner brands increase the sales of their lowest selling product by 25%. Our integration with Dine-In will be a revolutionary step in the food industry which will offer a pleasing experience to consumers and will help restaurants up their game,” he added.
Currently, Binge is operational at 90 outlets across New Delhi.
WayCool Foods and Products, the food tech startup, is planning to expand its footprint to most of the Southern and Western part of India.
The expansion plans of the company will be funded by the recently raised pre-Series-B investment of Rs 120 crore. The Chennai-based firm uses technology to offer fresh vegetables, fruits and other staples to hotels, restaurants, small kirana stores and other businesses.
Founded by Sanjay Dasari and Karthik Jayaraman, the three-year-old food development and distribution platform has a run rate of Rs 300 crore per year. WayCool is eyeing to increase its turnover by five times in the next two to three years.
The company has also acquired the physical distribution of Aalgro Foods, a Bengaluru-based B2B company in fruit retail packaging and distribution. It is further planning to acquire more companies in the technology and distribution space in a bid to fuel its expansion to Karnataka, Andhra Pradesh, Telangana and West India.
Sanjay Dasari, Co-Founder of WayCool Foods, said, "Since our inception, we have grown 18x in 18 months supplying to over 5,000 clients with a base of 35,000 farmers across 50+ regions in India. The association with Aalgro will strengthen WayCool’s packaging and retail distribution infrastructure and facilitate the exponential growth of our customer base as we look to build one of India’s largest food development and distribution companies."
InnerChef India Pvt Ltd, the parent company of cloud kitchen startup Innerchef, has raised $6.5 million i.e., INR 43 crore in a Pre-Series B round funding in order to expand its operations pan India. The financing round was led by Das Capital and Taizo Son’s Mistletoe Inc. The company intends to use the funds for brand building and developing the subscription-based food delivery model in the country.
Mistletoe is owned and funded by serial entrepreneur Taizo Son, the brother of Masayoshi Son, Founder and CEO of Japanese investment giant SoftBank.
Rajesh Sawhney, Co-founder and Chief Executive Officer, InnerChef said, “The fresh funding will be used to strengthen the brand portfolio. Healthie, for instance, has become a category-defining brand in 2018. We are also using the fresh round of funding to further strengthen our shared kitchen platform across India.”
Speaking about the expansion plans, Swahney said, “In the next few years, the delivery segment will grow the fastest in India as we see the strongest growth in that space. Secondly, we have to build 10 new-age brands in this segment.”
Innerchef, the cloud kitchen platform was founded by Rajesh Sawhney, Sanjeev Singhal and Bal Dighent in 2015. Its headquarter is in Gurugram. InnerChef, initially, started with delivering raw ingredient boxes where the consumers could make dishes on their own. After realizing that Indian consumers “were not ready for the box model”, the platform pivoted to cloud kitchen concept.
At present, InnerChef operates in Delhi-NCR, Mumbai, Hyderabad and Bengaluru, and ships over 100,000 meals per month.
Kraft Heinz has announced the launch of Evolv Ventures. The company has committed up to $100 million to Evolv Ventures, a new venture fund that will invest in emerging tech companies transforming the food industry. The fund will be led by venture investor Bill Pescatello.
Bernardo Hees, Chief Executive Officer at Kraft Heinz, said, "New technological innovations in the food industry create endless new opportunities to strengthen business models. Through Evolv Ventures, we will work with tomorrow's most innovative founders and companies in the space, and use the full resources of Kraft Heinz to help them succeed."
Pescatello brings over a decade of venture investing experience to Kraft Heinz. Prior to joining Kraft Heinz, he was a Partner at Lightbank, the Chicago venture capital fund, and a founding member of the Peacock Equity Fund, a $250 million global capital fund of GE Capital and NBCUniversal.
The new venture fund will accelerate the company's exposure to emerging technologies and businesses. It will also leverage its position in the industry.
Bill Pescatello said, "At Evolv Ventures, we will move beyond brands to have a committed first look at our industry's most promising and disruptive tech-enabled companies. With the insights, data and access available at Kraft Heinz, we look to take full advantage of our unique position and be the foremost value-added investor in the space."
Bengaluru-based personalisation technology firm, Dishq which is aimed to serve the food and beverage industry, has secured $400,000 (Rs 2.7 crore) pre-seed fund from from Techstars’ food and agriculture technology accelerator Farm to Fork and Arts Alliance.
The Syndicate Fund and angel investor Sven Hensen, founder and managing partner of business analytics firm mayato. Existing investors Zeroth, a startup accelerator, and Artesian Venture Partners also participated in this funding round.
According to the company the raised amount will be used to expand its engineering team and to accelerate its sales and marketing activities.
The artificial intelligence startup takes food science and machine learning into help to predict people’s tastes. Dishq claims to have developed what it calls a ‘food brain’ that can predict both an individual’s food preferences as well as broader industry trends.
The startup was launched in December 2015 by Kishan Vasani (chief executive) and Sai Sreenivas Kodur (technology head), who both previously worked at online food ordering ventures Just Eat and Zomato, respectively.
The tech service provider is currently powering more than 30 million recommendations each month. It claims to have its users across six markets for its first product, a business-to-business (B2B) personalisation engine.
“Our technology essentially brings greater alignment between producers and consumers, and we’re truly honoured and excited to have the backing of such fantastic investors for our vision,” Vasani said.
The 2014 established food-tech startup SmartQ has raised $1 million from a group of Dubai-based investors. The round also saw participation from existing investor YourNest.
The company offers digital cafeteria solutions to eliminate queues, minimise wait time and offer a better experience. The platform includes mobile application, automated billing kiosks, centralised billing system, NFC (near field communication) prepaid cards, POS software etc. The company clocks over 1 lakh transactions everyday and has been growing 50% month-on-month. It counts companies like Shell and Epsilon amongst its clients.
Krishna Wage,Founder and CEO, SmartQ, said, “The funding has enabled us to focus on the next level of strategic growth while also scaling up on technology, talent and brand building in full swing. SmartQ intends to use the raised funds to bolster its efforts in growing business outside India.”
Anvita Varshney former MD of Lazada group, has joined the board of advisors at SmartQ, as part of the funding.
Noida-based RailYatri has acquihired Kochi-based food delivery technology startup YatraChef. YatraChef team will now manage pan India supply side of RailYatri’s in transit delivery business.
With this, RailYatri has further strengthened its supply side commerce capabilities as it continues to add new offerings to its travel marketplace. Last-mile capability is becoming a critical piece in commerce marketplaces as companies are able to provide a complete online and offline experience to its users, in addition to creating a premium and differentiated offering.
"YatraChef brings a deep experience of over four years in food delivery and vendor management. It has a track-record of delivering outstanding consumer experience to travellers. YatraChef’s skills will help us jointly develop new offerings that would redefine the traveller experience with RailYatri. We are delighted to have them on board" shared Manish Rathi, CEO and co-founder RailYatri.
"Having partnered with RailYatri for some time now, it was an obvious decision to join hands as we can make a much bigger impact together. We are excited to be part of the RailYatri family and look forward to continue growing stronger than before" quoted Arun Rajan, CEO and co-founder of YatraChef.
Bengaluru-based HungerBox, a B2B food-tech company, on Monday announced closing of $ $2.5 million in pre-series A funding led by Lionrock Capital and Infosys co-founder Kris Gopalakrishnan.
Started in 2016, HungerBox is a full stack, foodtech company that is focussed on the B2B space and operates over 100 digital cafeterias for more than 75 corporate clients, including Qualcomm, Microsoft, FirstSource, Accenture, Capgemini, Genpact, ABB, Amazon and McKinsey in Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Delhi/NCR and Jaipur.
“HungerBox’s business has scaled tremendously over the last 15 months with nearly seven million orders placed on our platform till date. We are clocking more than 120,000 daily orders and expect to scale this to half a million orders per day by end-2018,” Shared Sandipan Mitra, CEO and co-founder, HungerBox.
The funding we have received from marquee investors will boost our ability to scale our operations to keep pace with the traction we are seeing for our digital cafeteria management solution.
“There is tremendous potential for innovation in the B2B foodtech arena as corporate spends on F&B are already massive and growing year-on-year. HungerBox addresses this large space with an easily scalable model and an end-to-end solution that provides a win-win to employees as well as to corporate clients” said Kris Gopalakrishnan.
“The B2B food space has plenty of headroom for growth and innovation for years to come. The winners in the sector will be those with a powerful, tech-led offering and the ability to scale in-step with their clients. HungerBox certainly has all the credentials to be a leader in this space,” Quoted Hari Kumar, founder and CEO, Lionrock Capital.
Angel network platform Venture Catalysts has facilitated an undisclosed amount of investment in food tech startup The Bohri Kitchen. The seed round in the specialised cuisine startup has seen participation from Anuj Puri of Anarock Consultants, Abhishek Agarwal of Rockstud Capital, Anirudh Damani of Artha India Ventures, F&B veteran Riyaaz Amlani and food chef Rahul Akerkar amongst others.
Started by Munaf Kapadia and his mother in 2014, The Bohri Kitchen offers dishes that are unique to the Dawoodi Bohra community to food connoisseurs through a home dining experience. The start-up makes available legacy family recipes to specialised small groups of gastronomes.
Munaf Kapadia, Founder & CEO, The Bohri Kitchen said “When I first thought of the idea that would materialise into The Bohri Kitchen, I was confident of the viability of such a concept in the market. The response that we’ve had so far has just strengthened that belief. A former Googler, Kapadia is the recipient of the title of Forbes ‘30 under 30’ for creating The Bohri Kitchen (TBK).
Anuj Puri, Chairman of Anarock Consultants who is an investor in the company said “The brand has grown from strength to strength, setting up a delivery kitchen and slowly expanding into the restaurant vertical as well. We are confident that TBK will continue to set new benchmarks in the experiential dining space and garner exponential success.
Through this investment round, Kapadia is also looking to widen the reach of TBK by hiring more skilled workers to help standardise the menus along with his mother.
Holachef Hospitality Pvt. Ltd, a Mumbai-based food delivery startup raised Rs 8.95 crore ($1.38 million) capital through a mix of equity and debt, about Rs 2.94 crore was through equity from a clutch of individual investors and corporate entities, including Rajasthan-based software publishing and consultancy firm IPI Technolab Pvt. Ltd.
Innoven Capital, the venture debt arm of Singapore Government’s sovereign fund Temasek, has pumped in Rs 6 crore, the person added. It was, however, not clear whether the equity financing was a top-up to the $4.8 million Series-B round. If so, it would take the total Series-B round to $5.25 million. E-mail queries to Saurabh Saxena, the CEO of Holachef, seeking more information on the development did not elicit any response till the time of publishing this report.
Holachef was launched by Saurabh Saxena and Anil Gelra in 2014. It delivers ready-to-eat home-cooked food to consumers. It has in-house chefs who prepare signature dishes, which include Indian and global cuisines, besides desserts, beverages, munchies, and soups and salads.
Currently, this Mumbai-based startup caters to over 100 pin codes. The food-tech sector was largely ignored by investors through the major part of 2016 after numerous startups, such as TinyOwl, had to shut shop, while well-funded larger players like Foodpanda ran into rough weather. But the sector seems to be back in the limelight with Swiggy and a bunch of smaller startups getting funding recently.
Recently several food-tech startups like Yumist were forced to down their shutters. This throws up some very pertinent questions as to whether the sector can really make a comeback or is there a second wave of consolidation in the offing. However, according to a recent TechSci Research report, India’s food-tech market is estimated to grow at a compound annual rate of over 12% during 2016-21.
Food tech start-up Freshmenu has opened its first front facing kitchen at Bangalore airport as it looking to double down on expanding its order base. With this, Freshmenu has now 35 cloud kitchens across Bangalore Mumbai and NCR and is looking to increase the count to 40-42 in the next four months.
Rashmi Daga, CEO of Freshmenu said "In the last 6 months, we have doubled our footprint in Mumbai, opened a lot more kitchens. In this last month alone, we have opened 5 kitchens including the one at the Bangalore airport, Claims to have enough money in the bank to continue (investing for) capex behind the kitchens. With an increase in kitchens, Freshmenu is targeting a 2x growth in revenues even as it chalks out a path to profitability. Trajectory to profitability is very strong. We will be profitable at the net level within 1 year".
Daga also stated that, however, he has no plan of opening more front-facing kitchens with the newer kitchens focussed only on the existing 3 cities. Lightspeed Venture Partners backed firm currently clocks 13,000 orders per day with an average order value at Rs 325, just shy of the Naspers backed Swiggy which clocks orders worth Rs 350 on an average.
Researchers at Clarkson University in the US built a versatile sensing platform that incorporates all the needed reagents for detection in a piece of paper. The paper is adaptable to different targets, including food contaminants, antioxidants and free radicals that indicate spoilage. "Most people working on similar sensors use solutions that migrate on channels. We use stable, inorganic particles that are redox active," said Silvana Andreescu from Clarkson University.
"When they interact with the substances we want to detect, they change colour, and the intensity of the change tells us how concentrated the analyte is," Andreescu added.
The potential applications are wide-ranging. For example, much of the sensor work thus far has focused on detecting antioxidants in tea and wine, researchers said.
They found that these products have unique antioxidant "fingerprints" that could be used for authentication purposes. The portable sensor could also be used by researchers exploring remote locations, such as the Amazon rainforest, in search of natural sources of antioxidants, they said.
HyperTrack, which enables businesses to track their executives and products through its software, has raised USD1.5 million from Chamath Palihapitiya's Social Capital, Vy Capital, along with a bunch of angel investors like Deepinder Goyal of Zomato and Hari Bhartia of Jubilant Foods, among others.
Founded in October 2015 by serial entrepreneur Kashyap Deorah, whose earlier venture Chalo was acquired by OpenTable and Chaupaati was bought out by Future Group, HyperTrack closed the funding in three stages over the past few months. Ashish Gupta, co-founder of of Helion Venture Partners has joined the board of the company, said Deorah.
Tapan Pandita is the co-founder of HyperTrack. The company has created a software which offers tracking services on B2B as well as C2C front.
For example, clients like food delivery startups and on-demand logistics services are using HyperTrack to track various aspects of their business such as manpower, sales team and logistics among others.
Co-founders of comparison site Junglee founders Anand Rajaraman and Venky Harinarayan, Investopad, and fund managers of large PE firms have invested in their personal capacity in HyperTrack. Gupta has joined a non-Helion backed company only twice in the past and we feel honored to have him," Deorah said by adding that he wants to invest the capital to strengthen its product and hire another ten people in key roles.
" We also plan to start an office in San Francisco with about five people. We are hiring software engineers, data scientists and developer relations roles," he said.
HyperTrack claims to be operational in over 30 countries with over 100 clients using the firm's services. It has 800 clients who have signed up on the company's platform. Presently, it's charging a fee of 4 cents for every order tracked by HyperTrack.
"We are solving a deep technology problem . Our focus is to continue building a superior product, engage deeper with customers and build the world's best team for location-based services," Deorah said.
After recording 1,38,227 food orders through its mobile app, TravelKhana.com, has launched its newly revamped app.
The new and improved user interface designed app with enhanced ordering capabilities built in an all new offline mode to facilitate users in ordering food without any hassles of using the internet.
"The latest and enhanced TravelKhana App is completely redesigned keeping our users’convenience in mind. We've made the app more order-centric, based on the demands of our customers, making it easier to use and faster to place an order. This enhancement is just one part of a holistic technology strategy to boost the food ordering experience on our platform, allowing better sales for TravelKhana,” shared Pushpinder Singh, TravelKhana.
Based on the concept of virtual QSR, the offline mode of TravelKhana app is devised to ensure that a transaction is completed within 30 seconds.
It detects the forthcoming train trips to offer quick access to trip related information and facilitates the customers in booking their favorite food for their journey.
innerChef, India’s fastest growing Food-Technology company that delivers Ready-to-eat and Ready-to-cook meals at your doorstep, has raised a pre-series A round of Rs. 11cr ($1.66mn) from the leading investors from across the globe.
A number of leading Indian and International Technology Founders have participated in this round of funding: Phanindra Sama (Founder - RedBus), Vijay Shekhar Sharma (Founder - PayTM), Anupam Mittal (Founder - Shaadi.com), Vishal Gondal (Founder - GOQii, exited from Indiagames), Sateesh Andara’s (ex DFJ) new fund, Murugavel (Founder - Bharat Matrimoney), Dinesh Agarwal (Founder - Indiamart and Tolexo), Neeraj Roy (Founder Hungama), Roshan Abbas (Founder – Encompass, A WPP company), Teru Sato (Founder – NetPrice & Beenos, Japan), ATsushi Tiara (Senior Softbank executive and ex-CEO of Bharati SoftBank), Hiro San (M&S Fund, Japan), Boris Raybov (Investor from Silicon Valley, US) and TA Venture from Europe.
Growing at 100% month-on-month since its launch in April 2015, InnerChef will use the funds to expand its footprint and launch 10 new kitchens across Delhi, Bangalore and Mumbai. Additionally, InnerChef will also focus on building Indulge – a Hyper Local Desserts Marketplace that brings the finest desserts from home bakers and neighborhood bakeries, across six cities within the next three months. The Indulge platform will aggregate 100,000 home bakers across 100 Indian cities within a year.
InnerChef co-founder Rajesh Sawhney expressed, “We are extremely pleased to have received support from the leading Indian and International Technology founders. We believe this demonstrates their confidence in our Kitchen-in-the-cloud business model, strength of our team, and awesome growth trajectory since the launch in April 2015. We are a Big-Data-Food-tech company that believes in continuous innovation across all aspects of business and technology to delight our customers.”
India’s one of the largest Food Technology Company, Faasos has recently tied up with Citrus Pay for payments on their Mobile App.
The integration of Citrus Pay has made cashless payments seamless on the App, enabling reduced friction for the customer.
“Citrus has been working towards bringing more and more benefits to its customers. Thistie-up is another such step in that direction. We’re focused on making cashless payments a household practice. Faasos being a popular brand among the youth will also help us connect with the kind of users we cater to the best,” said Jitendra Gupta, Founder of Citrus Payment Solutions.
In order to encourage users to experience the Faasos App, Citrus is also enabling an interesting launch activity.
Faasos is giving Rs 100 to first time app users called Faasos Cash via the Citrus Wallet, which can be spent exclusively on ordering food from Faasos.
The offer is doing well and it wouldn’t be wrong to say that customers are literally lapping it up, shared the release.
The offer is in its initial stages but users can’t seem get enough of the free food that the Rs 100 gives them access to.
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