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2014-08-29

iTiffin, founded by former Flipkart honcho, raises $1 million funding

The startup was founded in early 2013 by Tapan Kumar Das and Ryan Fernando who also runs Qua Nutrition which consults celebs on diet plans.

Bangalore-based iTiffin, Inc, which runs online tiffin service venture iTiffin.in, has raised $1 million (Rs 6 crore) from a large Indian family office in a seed round. The name of the investor stands undisclosed.

 

The one-year-old startup, which provides tiffin based on defined calorie count requirement, will deploy the latest funding across six months to increase operational efficiencies, set up 10 retail centres, upgrade its interface and add new features and venture into the mid-night snack segment.

 

The funding will also facilitate the startup to go beyond serving meals. It is developing a review mechanism to monitor wellness and educate users and getting deeper into wellness.

 

The startup was founded in early 2013 by Tapan Kumar Das and Ryan Fernando who also runs Qua Nutrition which consults celebs on diet plans.

 

Das, who is a CA and IIM-A alumnus, has previously been VP – finance at Flipkart. Ryan, also an IIM-A alumnus, has masters’ degrees in Food Biotechnology and Biochemistry. He has more than a decade of experience in marketing and developing health entities.

 

The firm delivers about 10,000 tiffins a day and has recently tied up with two leading corporates which has doubled its orders. It charges Rs 1,750 for a 20 working day (in effect monthly) one-meal (lunch or dinner) plan and Rs 5,000-6,000 per person for a three-month package from corporates.

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