The past few months have seen a number of startups operating in the meals-tech enterprise handling to raise huge budget. While the organised food industry is said to be valued at round $15 Bn, and is projected to grow sixteen% each year to attain $28 Bn by means of 2018, an associated phase, home delivery is witnessing a speedy increase of round forty% as human beings get increasingly more busy and locate even lesser time to prepare dinner.
Hoping to tap into the Food-tech-logistics market, three pals Prateek Agarwal (IIT KGP ’13, Ex- Housing.Com , Ex-Schlumberger), Aushim Krishan (IIT KGP ’12; Ex- Barclays Capital , Singapore), Siddharth Sharma (NTU ’12, Singapore; Ex- Deutsche Bank ) released Bite Club, a managed marketplace connecting folks who cook dinner extremely good food (cooks) without delay with the clients.
All of this is done with 0 hassles, mobile-based ordering, scheduled & on-call for delivery, each day converting menu, handy packaging and plenty extra!
Just few months into operations, this NCR-based startup has currently raised INR 3 Cr. In funding from Powai Lake Ventures and angels which includes Aneesh Reddy (Capillary Technologies), Ashish Kashyap (Goibibo Group) & Alok Mittal (Canaan Partners).
There are some of Problems Customers Face while ordering food :
Where to order/what to order?—?Zomato solves this to a point, however figuring out what to consume is still a massive trouble.
Paradox of choice/Decision paralysis?—?All restaurants tend to have an extended listing of fifty options that you can choose from. They assume it’s range, we think it’s confusion.
Ordering meals?—?All eating places have an À l. A. Carte menu, meaning you need to order individual dishes. Now those dishes are crafted for two–three people in terms of amount. Which approach, in case you are alone you may’t order for yourself. You pay greater and for this reason waste extra.
Minimum order cost?—?This is the largest irritant in meals transport. Restaurants say, “You HAVE to reserve for Rs. 500, and handiest then will I supply the meals.” Why does it ought to be like that?
The nature of meals?—?Restaurants intentionally spike up the meals with oil and spices to make it greater indulgent. This is not a sustainable way of life option.
Order monitoring?—?More often than now not, you turn out to be calling the eating place to check “Khaana kab aayega?” Doesn’t this annoy you?
How Bite Club Tackles These Problems
On the patron aspect, Bite Club presents a day by day converting menu of wholesome meals that may be ordered via its cell app (Android proper now; iOS & Web app inside the pipeline). The meals is prepared with the aid of an aggregated community of home cooks, novice chefs & professional cooks. The food served is pretty distinctive from the normal restaurant fare, and is a mixture of connoisseur & consolation meals (throughout both Indian & Non-Indian cuisines).
On the chef facet, it offer two key services i.E. Demand generation & fulfilment (packaging, pickup & shipping).
Biteclub - running
What Sets It Apart/ Its USP
Based on general mind-set, people bear in mind food as exact if it's miles clean, handy, diverse, healthful, and manifestly tastes correct. What makes Bite Club specific from other eating places is that the food that it gives to its customers is handmade with the aid of top nearby cooks the use of the freshest elements in low volumes, which guarantees no dilution of excellent. “The truth that we've got a community of cooks (and not someone cooking at the back of closed doorways) cooking guarantees creativity and diversity on the menu. We guess that no one can become bored eating the meals that Bite Club serves due to the fact the menu modifications each day. The nature of meals is guilt-free, and may be eaten on a normal basis,” tells Prateek ?Agarwal.
On Confronting Competition
“The meals-tech area is quite crowded right now. Locally our opposition are eating places, but we have price propositions (no min. Order, meals layout food, each day changing menu, app based ordering, healthful & clean food, unique concept) for customers that no restaurant can provide. Our energy lies in era and constructing lovely products, and we can retain to outperform all people else like we’ve achieved to this point. For us this commercial enterprise is as plenty about era (maybe even extra) as it is approximately meals. We realize how to automate each and each system within the deliver chain,” says Prateek on how they differentiate themselves from others working on this area.
Traction & Expansion
Bite Club has already served over 6000 food in less than 3 months to greater than 1200 specific customers. It is currently handing over nearly 250-300 meals an afternoon. “Surprisingly all of this traction has are available in at zero marketing. The phrase-of-mouth advertising element may be very sturdy for us,” said the corporation.
Since its release the Bite Club app has controlled to recover from 2500 downloads. As in keeping with Prateek, every consumer orders almost 5 instances a month, and that they have seen eighty% retention.
Currently, the startup is operational in only in Gurgaon and plans to apply the currently raised finances for constructing technology, growing operations and growth. Going ahead, the next cities on its radar are Delhi & Noida.
Team bite membership
Team Bite Club
The Food-Tech Industry & Fundings
The marketplace for food delivery is widespread but as compared to worldwide standards, the Indian Online food shipping is at a nascent degree and desires time to grow. The relentless entry or even presence of startups on this space further validates the big growth capability of this segment. It is interesting to be aware that the Online eating place guide Zomato is also making plans to begin food shipping and has even introduced its plans to invest $50 Mn for the release of food transport commercial enterprise. A few months back, Holachef.Com, every other startup dealing on this area raised INR 2 Cr funding from India Quotient in the form of convertible notes. Foodpanda additionally deals in this area.
Related: Here Are The Uber For Food Startups In India
A roundup of the latest fundings inside the food-tech space:
Foodpanda acquired JustEat India
SpoonJoy got funding from Sachin Bansal & others
TinyOwl got INR a hundred Cr. From Matrix, Sequoia & Nexus in Series B
FreshMenu quickly to shut INR 31 Cr. In investment from Lightspeed Venture
FreshWorld got funding from Kris Gopalakrishnan & IAN
FRSH raised approximately $250k – $200k
Gurgaon-based totally Yumist grabbed Series A funding led by means of Orios Venture Partners.
Faaso’s raised $20 Mn from Lightbox & Sequoia In Series B
The particular idea that Bite Club brings onto the Food-Tech desk appears promising, in particular in light of dynamic menu that it gives coupled with an array of functions like app-primarily based ordering and no minimal order. However, with an excessively flooded food-tech marketplace in India, it might have a difficult time dealing with the opposite upcoming startups. Zomato, with massive financial firepower has already determined to up the ante by finding out to make investments $ 50 Mn to enter the meals shipping market.
The figures and statistics showcase the big recognition that Bite Club is gathering through the day. In the arena of startups, though, you can still in no way be too positive. When endless competition are watching with an eagle eye, a single mistake can spell one’s doom. Lets wait and watch!!