Kolkata-based startup tastes2plate.com, specializing in intercity cooked food delivery, is on the verge of securing Rs 30-40 crore in Series A venture funding. Led by IT professional Gyan Srivastava, the bootstrapped startup has honed its business model over three years, becoming a low-cost player through innovations in packaging and logistics.
The News:
The startup’s strategic focus on innovative packaging and logistics allowed it to stabilize its business model, emerging as a cost-effective player in the industry.
The upcoming funding round aims to unlock exponential growth in the online food delivery market. The funds will primarily be allocated to capacity building in marketing, information technology, and logistics infrastructure.
The infusion of capital is expected to drive a 30-40% month-on-month growth in delivery volumes. The intercity food delivery segment, though nascent, holds significant potential, with a current average of over 35,000 monthly deliveries.
Tastes2plate distinguishes itself as the sole company exclusively focused on intercity food delivery. Operating in approximately 20 major cities, it positions itself as the most cost-effective option for customers.
The startup’s success in maintaining low delivery costs is attributed to innovative packaging adhering to Indian Institute of Packaging standards.
Recognizing the demand for delivering home-cooked food to distant loved ones, tastes2plate plans to launch a full-fledged service in this segment. The offering aims to capitalize on the trend of ordering delicacies from other cities and delivering homemade meals to relatives and friends.
Currently operational in cities such as Kolkata, Patna, Lucknow, Delhi, and more, tastes2plate aims to extend its services to Ahmedabad, Chennai, Kanpur, Ludhiana, and Guwahati in the next 30 to 45 days.
Conclusion:
The Series A funding round signifies a pivotal moment for tastes2plate, propelling its expansion plans and solidifying its position in the intercity food delivery market. The strategic infusion of funds is poised to contribute to the startup’s ambitious growth targets and market dominance.
