The new funds will be used for enhancing product, technology and scaling operations into many new localities.
Dazo, a curated meal marketplace has announced a round of funding and also completed a rebranding from its earlier name, TapCibo.
Investors participating in this funding round include leading internet entrepreneurs such as Sumit Jain (co-founder and CEO, CommonFloor) and Aprameya Radhakrishna (co-founder, TaxiForSure), Alok Goel (former CEO, FreeCharge), industry professionals such as Rajan Anandan (Managing Director, Google India), Amit Agrawal (Country Manager, Amazon India) Vinay Goel (Director Product Management, Google Maps & Local) and hospitality entrepreneurs such as Ashish Dev Kapur (co-founder, Yo! China), amongst others.
“Dazo provides a fresh and curated menu to its customers with a seamless ordering experience requiring just 3 taps on an Android phone. The company has a seamless wallet through which customers can make entire transaction cashless. Lunch, dinner and evening snack options are changed on a daily basis and include a wide variety of cuisines. The company has partnered with neighbourhood restaurants and established food entrepreneurs to access a long tail of highly scalable supply of unique handcrafted meals to meet growing customer demand,” said the company’s official release.
The company was founded in October 2014 by Shashaank Shekhar Singhal (ex-redBus Director of Mobile Products) and Monica Rastogi (Founder of Explore-in-Android). The company draws on its’ founders backgrounds to integrate technology to automate and optimize the logistics of food delivery.
The new funds will be used for enhancing product, technology and scaling operations into many new localities. Dazo currently serves hundreds of delighted customers in Bangalore across Indira Nagar, Domlur, Koramangala, Old Airport Road and Bagmane Tech Park.
Speaking on this funding, Sumit Jain, co-founder and CEO, CommonFloor, said, “I am very impressed with the caliber and experience of Dazo’s founding team. They have been able to build a superior product experience at such an early stage. The complementary skill sets of the seed investors and advisors will further aid the growth of the business.”
Aprameya Radhakrishna, co-founder, TaxiForSure, said, “The food tech industry is very similar to the taxi industry with a lot of real-time logistics and tracking technologies involved. The Dazo team has built very sophisticated systems and a scalable technology platform from the inception of the business.”
Alok Goel, Former CEO of FreeCharge and currently CEO - New Businesses, FreeCharge, said, “Food is the highest frequency e-commerce segment and Dazo has shown very high customer engagement along with industry-leading repeat rates and cohorts. The team has build a highly positive unit economics business that’s scaling rapidly through technology innovation.”