India has a very large food industry, sixth precisely in the world. The retail startups account for about 70% to the total sales of food sector. According to reports, Food and Retail market will worth $ 828.92 billion by 2020. And so the food-tech industry is also rapidly growing with segments like food and grocery delivery, personal chefs, box delivery and on-demand meals are becoming popular day by day. There are many successful startups that are operating in the food industry and many upcoming and promising ones as well. In this article, we have listed some of the most popular and exciting food startups.
Founders: Deepinder Goyal & Pankaj Chaddah
Founded in: 2008
Zomato is a Gurgaon-based online and mobile app platform for restaurant discovery, ordering, pick-up and table booking founded by Deepinder Goyal and Pankaj Chaddah in 2008. It is an Indian restaurant search and discovery service that lets you search from over a million restaurants across the globe and it currently operates in 24 countries. The app and website also provides information and reviews of restaurants where users can also insert images of menu’s items they order and the outlet’s pictures as well.
Zomato also launched a white-label platform where restaurants can create their own apps with customized features, integration with Zomato order and analytical support. The startup has raised a total funding of about $673 million from investors such as Glade Brook Capital, Ant Financial and VY Capital among others.
|Total Funding||$673 Mn|
|Investors||Sequoia Capital, Temasek Holdings, Glade Brook Capital Partners, Shunwei Capital, Vy Capital, Info Edge, Delivery Hero, Neeraj Arora, Ant Financial, Alipay Singapore, Saturn Shine|
Founders: Sriharsha Majety, Nandan Reddy & Rahul Jaimini
Founded in: 2014
Swiggy is a Bangalore-based food ordering and delivery company that provides food services solutions for restaurants and was founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014 and Visha Bhatia is its CEO. They deliver food and desserts from restaurants to customers in under 40 minutes. The company’s smartphone-equipped delivery personnel provides deliveries to customers through an app that runs on the routing algorithms. The customers can also track their orders in real-time. When Swiggy first started, it ran free deliveries. As of today, Swiggy charges its customers Rs. 30 (average) for delivery but also provide free delivery on many orders.
Swiggy currently has more than 5000 employees and operating in eight cities where it has more than 9000 restaurants on its platform. The startup has raised a total funding of $1.47 billion from investors such as Naspers, DST Global and Tencent among others. It aims to stand out by offering a more curated list restaurants and services, and it also has its own in-house delivery fleet that picks up orders from restaurants and deliver it to customers.
|Total Funding||$1.47 Bn|
|Investors||Accel Partners, Norwest Venture Partners - NVP, DST Global, Bessemer Venture Partners, Wellington Management, Coatue Management, Harmony Partners, Tencent Holdings, SAIF Partners, Naspers, Hillhouse Capital Group, RB Investments, Meituan-Dianping|
Founder: Rashmi Daga
Founded in: 2014
FreshMenu is a Bangalore-based internet’s first restaurant and a go-to neighborhood food delivery option offering freshly prepared multi-cuisine food such as oriental, continental, Italian, Mughlai and other. The startup offers a daily changing menu and delivers freshly prepared meals at customer’s doorstep, including lunch to dinner, in just 45 minutes. It operates through its kitchens spread across the city and by own delivery fleet personnel.
FreshMenu’s meals are crafted with the finest ingredients including farm fresh vegetables and fresh dairy and meat products. It serves about 12000 orders on a daily basis and its average ticket size is of RS 320 only. The startup was founded by Rashmi Daga who is also the CEO and the startup has raised funds of $24 million from investors such as Lightspeed Venture Partners and GrowthStory Investments among others.
|Total Funding||$24 Mn|
|Investors||Lightspeed Venture Partners, Zodius Capital|
Founders: Jaydeep Barman & Kallol Banerjee
Founded in: 2011
Faasos Food Services Pvt. Ltd. is a Pune-based Indian “food on demand” startup that was founded by Jaydeep Barman and Kallol Banerjee in 2011. It is an online food ordering platform that currently operates in 16 of the largest cities in India and takes customer orders on its mobile app and website. Faasos built a model that aggregates different restaurant chains and individual restaurants to deliver their large variety of dishes. They have succeeded in striking a balance between scale and sustainability. It owns and operates a chain of restaurants and cloud kitchen.
Faasos services around 18000 orders on a daily basis. The company owns brands like Behrouz Biriyani, Ovenstory and Kettle & Eggs. They have raised a total funding of $80 million from names like Alteria Capital, Sistema Asia Capital and Evolvence India among others.
|Total Funding||$75 Mn|
|Investors||Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, ru-Net South Asia, and RB Investments|
Founders: Anshul Gupta & Amit Raj
Founded in: 2011
Box8 is a Mumbai-based Indian quick service restaurant chain, with outlets all across Mumbai. They provide users an online platform that allows them to browse through various product menus and place an order for home delivery. Their app is available on iOS and Android platforms.
The startup has raised a total funding of $12 million which they utilize to build technology, team expansion, deepening the market penetration and build a seamless customer experience across its mobile and website platforms. It is currently operating in Mumbai, Bangalore and Pune. The investors include names such as Trifecta Capital, Mayfield IIFL Wealth Management and Seed Venture Fund among 42 others.
|Total Funding||$12 Mn|
|Investors||Mayfield Fund, Indian Angel Network, IIFL, Nitin Singhal, Kaushal Aggarwal, eWTP Ecosystem Fund, IIFL Seed Ventures|
Founders: Sandipan Mitra
Founded in: 2015
HungerBox is a B2B food-tech startup founded by Sandipan Mitra in 2007. The startup is a full stack B2B and F&B (Food & Beverage) technology company delivering food solutions for corporate. It is currently serving over 100 clients across the country and continue to delight them every day with their services.
HungerBox is revolutionizing office food and cafeteria management with the help of the best caterers in the city and using the best in class technology, infrastructure and robust operational processes without compromising on Food quality and Food Safety. The startup aims to enhance the productivity of food companies (restaurants, delivery startups, etc.) by providing them technology based system to make their team focus only on food and still manage everything smoothly.
|Total Funding||$7 Mn|
|Investors||Neoplux, Sabre Partners, Kris Gopalakrishnan, LionRock Capital|
Founder: Mukesh Bansal
Founded in: 2016
Curefit is a Bangalore-based company founded in 2016 by Mukesh Bansal, who is also the co-founder of Myntra. The online platform is an Indian health and fitness company that offers digital and offline experiences across fitness, nutrition, and also mental well-being. They aim at making fitness fun and easy. Curefit focuses on preventive healthcare space that enables users to manage their health proactively through various service offerings.
Curefit provides fresh and tailor made salads under the brand Eatfit. They also home deliver fresh and homely food, that are low in carb, high in protein and include a lots of green vegetables in it. They focus on healthy food including dishes that span Indian, fusion food, salads and snacks. They have raised a total funding of $170 million from Kalaari Capital, Aceel Partners and Oaktree Capital Management among others, and have also signed Hrithik Roshan as their brand ambassador.
|Total Funding||$294.6 Mn|
|Investors||Accel Partners, IDG Ventures USA, Kalaari Capital, Accel, IDG Ventures, Unilever Ventures, Oaktree Capital Management, InnoVen Capital, Kotak Mahindra Bank, Chiratae Ventures, Epiq Capital, Pratithi Investment Trust, Anand Piramal Trust|
Founders: Sandipan Mitra
Founded in: 2015
MagicPin is a coupon website. It provides rewards and cashback to the diners. The company was founded in 2015 by Anshoo and Brij Bhushan. MagicPin has its presence in 16 cities of India including Delhi, Hyderabad, Chennai and Pune. With 1.4 million users, the platform drives Rs. 30 crore of monthly sales for partner food and beverage (F&B) chains that include KFC and Hard Rock Café. Magicpin is also getting into groceries and beauty & wellness segment.
Diners can earn cashback if they dine in a partner restaurant of Magicpin by uploading a photo of the bill along with a selfie with the dish. To engage with other users they use the data of check-ins, recommendations, and reviews in a live feed-style timeline interface. The platform also provide promotion service to restaurants to post surveys and advertisements.
|Total Funding||$30 Mn|
|Investors||Lightspeed Venture Partners, Vy Capital, Knollwood Investment Advisory, Google Launchpad Accelerator, Sequoia Capital India|
Also read: List of Logistic Startups in India
With people inclining towards better lifestyle, the food industry in booming and evolving at the same time. In the next few years, we can expect drastic change and increase in the number of food startups in India. If we come across any other good food startup, we will add them as soon as possible. You can let us know in the comment if you know any good food startup in India which should be in this list.