Indian food tech startups are leveraging technology to advance sustainable food systems and transform the accessibility and distribution of food. These business owners are reducing waste and promoting local goods while serving up healthier, delicious meals through vertical farming and online grocery delivery. “Foodtech” is the term for the rapidly growing subject of food science, where businesses are extending beyond traditional grocery delivery. In developing countries like India, the number of people using food delivery services is rising dramatically, demonstrating the potential of food to improve people’s lives considerably.
Zomato
Founded in 2008 by Pankaj Tshaddah and Deepinder Goyal, Zomato is a worldwide food-focused portal. In 2010, it changed from being known as Foodiebay to Zomato. The firm has adjusted sales of INR 55.4 billion, growing at a remarkable 86% annual rate. With the most recent round being a Post-IPO-Secondary round on August 3, 2022, Zomato has raised $2.5 billion in 22 rounds. In addition, its food tech startup has invested in 14 projects and paid $725 million to buy 15 businesses, including Blinkit. Blinkit was the most recent purchase made by the corporation on March 16, 2022.
Company Funding: $2.5B
Website: https://www.zomato.com/india
Swiggy
In Bangalore, Swiggy is an Indian meal delivery service that was started in 2014 by Rahul Jaimini, Nandan Reddy, and Sriharsha Majety. ‘Instamart’ provides on-demand grocery deliveries, ‘Swiggy Genie’ same-day package delivery, and food delivery services are among the 500 Indian cities where Swiggy operates. Intending to be the most adored hyperlocal player in India, Swiggy has earned $3.6 billion in investment via 15 rounds, the most recent of which came from a Venture – Series Unknown round on January 24, 2022.
Company Funding: $3.6B
Website: https://www.swiggy.com/
FreshMenu
FreshMenu is a Bengaluru-based firm established in 2014 that provides local meal delivery services in Delhi, Bangalore, Mumbai, and Gurgaon. Within 30 to 45 minutes, chefs produce a range of plated meals on demand and guarantee excellent delivery. In January 2021, FreshMenu secured an investment of Rs. 3.5 Cr from Lightspeed India, Zodius Technology fund, and Vistra India, demonstrating its dedication to providing high-quality meal delivery and ensuring client happiness.
Company Funding: 3.5 Cr
Website: https://www.freshmenu.com/
Faasos
The creator of Faasos, an online meal delivery service operated by Rebel Foods, Jaydeep Barman, has seen his business expand to become the world’s largest QSR chain with an Indian heritage. Faasos has over 160 kitchens throughout 500 restaurants in 10 countries, serving food from four distinct brands. The firm manages the ordering, distribution, and order fulfilment phases of the food-on-demand online meal ordering industry in India. Faasos reported operating revenue of $75.24 million in FY20, with a total financing of $111 million.
Company Funding: $111M
Website: https://www.rebelfoods.com/
Magicpin
Anshoo Sharma and Brij Bhushan co-founded Magicpin, an online location intelligence platform, intending to transform the hyperlocal into the magical. alongside the goal of being the preferred platform for consumers looking for businesses and services online, Magicpin has secured $104.9 million in investment across nine rounds. The most recent round, a series D round alongside Zomato and Lightspeed Venture Partners, was completed on November 10, 2021. The goal of the platform is to provide consumers with a fantastic hyperlocal experience.
Company Funding: $104.9M
Website: https://magicpin.in/
Curefoods
Ankit Nagori launched Curefoods, a Bengaluru-based food tech firm, in 2020 intending to offer wholesome, high-quality food that is honest. With 125 kitchens and a presence in 12 cities, the D2C startup, which is thrasio-style, offers more than 10 different cuisines. Curefoods, having received 183.3 million dollars in 8 investment rounds, has purchased some well-known brands, such as Eatfit, Aligarh House, Yumlane, and Great Indian Khichdi. Through eight investment rounds, the firm has raised 183.3 million dollars, with names like Varun Dhawan and Nora Fatehi among the sponsors.
Company Funding: $183.3M
Website: https://curefoods.in/
Chai Point
Throughout 11 investment rounds, the Indian tea and café firm Chai Point has collected $54.4 million in capital. The food tech firm, which was started in 2010 by Amuleek Singh, is present in eight Indian cities and provides a vending-based solution known as “Vending as a Service.” On May 9, 2022, a Venture–Series Unknown investment round was completed. Chai Point has also integrated a delivery service and e-commerce distribution. Eight Roads Ventures and Saama Capital are the most recent investors. The company’s tagline, “India runs on Chai,” captures the country’s passion for tea.
Company Funding: $54.4M
Website: https://shop.chaipoint.com/
Biryani By Kilo
Established in 2015 by Kaushik Roy and Vishal Jindal, Biryani by Kilo is a Gurugram-based food tech startup business that serves genuine Hyderabadi and Lucknowi Biryani made in individual clay Handis using fresh ingredients. Handcrafted in Kumhaara Gramme, on the outskirts of Delhi, the firm offers its artisans and craftspeople long-term work opportunities. With every order, the firm includes clay angles to improve the biryani experience. Throughout the 11 fundraising rounds, Kilo’s Biryani has raised $43.4 million in total, the most recent of which was a Series B round sponsored by Alpha Wave Global and IvyCap Ventures on November 20, 2021.
Company Funding: $43.4M
Website: https://biryanibykilo.com/
Eat Club
Anshul Gupta and Amit Raj launched EatClub, a cloud kitchen food tech startup that provides a membership programme for a carefully chosen list of eateries. EatClub Brands, located in Mumbai, has 150 kitchens under eight brands across five cities. EatClub Brands has raised $12 million in 11 fundraising rounds, for a total of $102.7 million. The most recent investors include A91 Partners and Tiger Global Management. The firm manages eight brands and 150 kitchens.
Company Funding: $102.7M
Website: https://eatclub.in/
Blinkit
Albinder Dhindsa and Saurabh Kumar launched the e-commerce food tech startup company Blinkit in India in 2013. It provides a range of everyday necessities products, such as groceries, bakery goods, and baby care items. Blinkit has raised over US$630 million from investors such as SoftBank, Tiger Global, and Sequoia Capital, and currently operates in over 30 Indian cities. Zomato’s acquisition of Blinkit for US$568 million in an all-stock deal in June 2022 demonstrated the company’s devotion to and embrace of quick-commerce.
Company Funding: $630M
Website: https://blinkit.com/
Conclusion
Everyone eats many times a day, thus the food sector is constantly in style. This field has long been a hotbed of innovation. This dynamic region undoubtedly attracts ambitious entrepreneurs hoping to explore novel ideas and build successful businesses. Indian food companies are trying to appeal to customers’ stomachs to win over their hearts. Food tech startups in India should leverage technology processes to generate unique food items to ensure delicious and nutritious meals.
