Twigly, another curated food marketplace startup raises $200K in a seed funding led by Tracxn Labs and other angel investors that includes Amit Gupta, Aloke Bajpai, founder of Delhivery, Ashish Kumar and partners and employees of SAIF Partners.
Despite too much of competition in the food marketplace, the Indian startup Twigly claims to break the existing models by providing nutritive food, prepared with fresh and quality ingredients to a delivery-only format. It offers food with quality ingredients in the offline QSRs (Quick Service Restaurants) and the fine dining restaurant market, at a 20-30% lower price point. Sonal Minhas, co-founder of Twigly said, “We aim to be the next Yum Brands equivalent in the emerging food-tech world. Our model is comparatively very asset light, as we only invest in capacity building of products for which we believe we can do a better job. For other items we act like a curated marketplace.”
With the customer base of 500 in a matter of a month, co-founder Naresh Kacchi believes ordering convenience plays a vital role to attract customers and to give them an overall experience. He said, ” At Twigly, we make sure that a user can order in three easy and intuitive steps and gets complete visibility into the delivery status.”
With the new funds, Twigly is working to improvise its business model and widen its customer base. The company is hoping that fine dining at home or really, even at the office desk will succeed.
“The next generation of e-commerce companies have well-rounded teams that are better equipped to take on traditional players in the food space. We believe that in the next 5-7 years, there will be 15-20 large food tech brands in India providing quality meals to busy Indians,” Neha Singh of Tracxn said.