Welcome Guest

Businessex.Com
Home News India Quotient, Kae Capital invest $518K in online meal service startup Frsh

India Quotient, Kae Capital invest $518K in online meal service startup Frsh

Tags: Frsh, seed funding, India Quotient, Kae Capital

February 04, 2015 | COMMENTS ( 0 )

India Quotient, Kae Capital invest $518K in online meal service startup Frsh

Gurgaon headquartered online meal service startup Frsh has announced to raise about Rs 3.2 crore ($518,000) in seed funding from early stage investors India Quotient and Kae Capital.

“The funds will be used to increase the production capability by upgrading our kitchen to the one that is at least three times bigger, launch an Android app, revamp the website and digitise our supply chain and delivery process,” said Badal Goel, Co-founder, Frsh.

Owned by Fingertip Foods Pvt Ltd, the company was started in January 2014 by two IIT Delhi friends Sumit Kumar and Badal Goel. GOel is a Mechanical Engineer, whereas, Kumar is a Computer Science graduate from IIT Delhi in 2006.

Prior to starting this venture, Goel had worked with Carrier AC, Aditya Birla Group and American Express. He ran a similar company for more than two years before starting FRSH. He currently manages product menu, procurement and kitchen operations. On the other hand, Kumar has worked with McKinsey for more than 5 years across India and US before joining Badal at FRSH. He also had brief stints at Lehman Brothers (London) and Lodha Group (Mumbai). He takes care of technology, marketing and logistics operations.

Frsh is targeting to solve the most commom problem faced by urban professionals - provding accessible and affordable healthy food options. It is presently delivering in about 1,300 addresses within Gurgaon and delivers as per its predetermined delivery slot in the area, which are at 45 to 60 minutes interval for every delivery cluster. The entire production and supply chain is managed in house. The startup has a team of about 60 members.

Lately, many startups in this space have raised funds. Among them, TapCibo raised funding from Alok Goel, founder, FreeCharge; SpoonJoy raised from Flipkart co-founder Sachin Bansal, chief product officer Mekin Maheshwari, Sahil Barua, co-founder of Delhivery, and Abhishek Goyal, founder of Tracxn; Yumist raised funding from Orios Venture Partners.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....