Wednesday, April 24

Tag: foodtech

Zomato Claims to be the Leader of Food Delivery Space in India
6Oct By Gauri SinghNo Comments
BUSINESS

Zomato Claims to be the Leader of Food Delivery Space in India

India’s food delivery sector is growing a lot these days. Restaurant discovery and food delivery firm Zomato recently claimed to have hit the 21 million monthly order run rate in India. The company said that it saw its highest weekly order volume during the month of September touch 700,000 orders each day of the week. With this, foodtech giant Zomato has announced that it is the market leader in the food delivery space in India. “At the beginning of 2018, we were at 3.5 million orders a month. With 21 million orders per month, as far as we know, we are now the market leader in the food ordering space in India,” mentioned Zomato CEO, Deepinder Goyal. Also, it was stated that Zomato had reached the 3 million monthly order volume mark. The company has its existence in 38 cities in India....
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FoodTech Startup HungerBox Raises $4.5 Million in Series A Funding
5Jul By Gauri SinghNo Comments
FUNDING

FoodTech Startup HungerBox Raises $4.5 Million in Series A Funding

A Bengaluru-based business to business foodtech company called ‘HungerBox’ has secured an amount of $4.5 million in a Series A funding round led by Sabre Partners and Neoplux which is a South Korean investment company. Along with these investors, the funding round witnessed participation of Infosys Co-founder Kris Gopalkrishnan and Lionrock Capital, who have been the existing investors in the startup. “HungerBox's strength of their technology-led solution, deep penetration into large corporate accounts and carefully calibrated growth means their business is extremely robust. We are delighted to partner this exciting company as they harness the potential for disruption in the corporate catering space in other markets beyond India,” said Alex Noh, Head of Cross-border Investment at Neopl...
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FoodTech Company ‘Biryani By Kilo’ Raises $1 Million
3Jul By Gauri SinghNo Comments
FUNDING

FoodTech Company ‘Biryani By Kilo’ Raises $1 Million

A Gurugram-based foodtech company called ‘Biryani By Kilo’ has reportedly secured funds amounting to $1 million in a pre-series A funding round. The investment was carried forward by a clutch of investors led by Ajay Relan (Founder Chairman at CX Partners) and Vinay Mittal (Chief Financial Strategist at HT Media). The purpose of the startup is basically to use the funds raised in boosting up the operations and developing over 20 more stores all over the country. Apart from this, the company also aims to achieve a sales run rate of more than Rs 40 crore by March 2019. The current revenue of the company is nearly Rs 24 crore along with a 70-80 precent growth rate. The company also stated, “BBK would be raising Series-A round early 2019 to take BBK pan India, and become Rs 100 crore+ in t...
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Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry
20Jun By Lavina TolaniNo Comments
ANALYSIS

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

It's just been three months when Food Delivery Platform Zomato raised $200 Mn from Ant Financials and now it is gearing to raise fresh $200 Mn from Alibaba. Interestingly, Zomato's arch-rival Swiggy is too nearing to acquire unicorn status as it is reportedly raising $200 million from Yuri Milner’s DST Global. While Swiggy has declined to reveal any information regarding its proposed funding, Zomato too has chosen to remain tightlipped. However, one thing is confirmed that with players eyeing a big chunk of the pie, the Indian food tech industry is surely going to witness a heated battle in the times ahead. This year has been really eventful for food tech where in March, Swiggy raised $100 million from Naspers, while Zomato raised $200 million from Ant Financials in February. Whil...
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Foodtech Startup SmartQ Raises $1 Million From Dubai Investors
14Mar By PriyankaNo Comments
FUNDING

Foodtech Startup SmartQ Raises $1 Million From Dubai Investors

SmartQ, online food-tech platforms raise $1 million funding from an investor group led by Dubai based investors. The existing investor, YourNest has also participated in this round. Ex-Managing Director of Lazada group, Anvita Varshney has joined as the Board of Advisors for SmartQ. Neeraj Sharma, Ex VP HP Asia Pacific has also been mentoring the SmartQ team from early 2017. SmartQ intends to use the raised funds for expanding the business within India and across international market along with further strengthening the team by getting together top talent. Founded by Krishna Wage and Abhishek Ashok in 2014, the company has immensely grown its product portfolio, customer base, geographical presence and sales turnover. Charting a great success story for itself, SmartQ has been growi...
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Hungry Foal Raises Funding From GAIL India’s Startup Initiative ‘Pankh’
14Nov By RishabhNo Comments
FUNDING

Hungry Foal Raises Funding From GAIL India’s Startup Initiative ‘Pankh’

[dropcap]G[/dropcap]urugram based nutrition enriched food manufacturing startup Hungry Foal has secured a Pre-Series A funding from GAIL (India) Ltd  under GAIL’s startup initiative ‘Pankh’. The agreements were exchanged at ‘Startup Sangam’ - an event organized by Ministry of Petroleum and Natural Gas in the presence of Shri Dharmendar Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Govt of India at The Taj Mahal Hotel, New Delhi, INDIA. The funds will be used for market expansion, technology and production ramp up, the company told in a press statement. JV Foodworks Pvt Ltd owned Hungry Foal was started 15 months ago, developed its products in technical collaborations with the scientists at SINED - TBI, NDRI, Karnal. Also ...
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