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Funding 2016-04-02

Pune based in talks with invsetors to raise funds

Started by Karan Singh, Vijayata Singh and Shiva Sharan, recently tied up with Venky’s for selling their processed meat. Talking to RI, Sharan talks about entering fresh meat biz.

By Deputy Features Editor
Pune based in talks with invsetors to raise funds

How was the idea initiated?

Easymeat was started six months ago by three of us.  Karan is ahealth freak and used to do lots of workout in gym and as his body require lots of protein he has a regular intake of meat.  While going to market once to buy meat he realise that while buying meat from these local suppliers the hygiene factor is lost.  And, that’ show we started on idea to deliver fresh meat maintaining the entire hygiene factor in it. Later, I and communicated also joined him in the business as we were also interested in food business.

What research you did before launching your site?

We did a complete market research of Pune, Delhi and Bengaluru and we found that 60 per cent of the Indians were non-vegetarian. And, with rising awareness, cookery shows and cooking trends people today are trying to cook different types of cuisines at home. It is all because of the certain cusine that ahs entered India is very meat driven. We thought of entering into meat business.

Have you partnered with local suppliers?

We have local, national and international suppliers.

We have seen lots of players entering the segment. What competition do you see from them?

We are not an aggregator all the companies in this segment are aggregator. We have created a brand itself, we are fresh meat brand, and we have in-house butchers, customise it and send it according to the customers demand.

Tell us about your partnership with Venky’s?

Earlier, we started as a fresh meat brand and we were only doing fresh and neat meat. But, when we started getting customer tractions lot of customers asked for processed food, and then we partnered with Venky’s and gave them the whole right for the section.

Is there any revenue sharing between two of you?

Yes, we are taking a revenue sharing of 15 per cent from them. We have signed a one year agreement with them and it’s an exclusive agreement that we won’t sell any other brand with us.

What about restaurant and hotel partnerships?

We also started taking orders from restaurants and hotels to grow business. We do have a B2B part where we are handling the entire month meat supply of many hotels and restaurants who order about Rs 80 thousand to 1 lakh rupees meat from us.

How is the pricing done?

We wanted to capture the household market, the housewife’s for their daily needs hence the pricing  is competitive to the local meat suppliers and we are able to do that because we have streamline the supply chain so well. We are directly getting it to our warehouse and customising it. So, we are having the entire supply chain and that gives us the freedom to go ahead with the competitive pricing.

What is the average ticket size of your products and the margin you get on them?

Fresh meat segment average ticket size is 550 RS and the margin is close to 40 per cent.

What is the expansion plan?

We are in the middle of raising funds. So, we will expand only after it’s clear. It will take a month or two. We are completing over to 100 products. And, we are getting lots of queries from Bengaluru. So, our expansion plan includes Mumbai and Bengaluru by round of funding and then Delhi.

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