The opportunity in the meals-tech section is large; with expert cooks and speedy transport options – companies are developing new manufacturers of Fast Food Chains. And, the industry is attracting quite a few traders. (Interesting fact: Chipotle’s income have been really worth more than Google’s in 2014!).
Having observed a problem place, Aman Gupta and Prateek Soni co-founded a food-tech startup, FoodPort in Jan 2015; with an intention to alternate the manner – ‘human beings devour at paintings’.
Aman Gupta wrote in a blog post, “There isn’t a expert, purchaser-driven service that could really excite humans to buy meals ordinary from them. People are in reality compromising on the first-rate of food at work as they don’t have get admission to to homely food or a respectable sufficient canteen.”
The business enterprise’s Kitchen is run underneath the strict supervision of D.K Soni, Ex-Head Chef at Taj SATS, and is the founder guide of FoodPort. Soni served Taj SATS for more than a long time, and travelled with the pinnacle of states, to make certain strict first-class requirements.
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Sailing on their USP of handing over speedy, nutritious and global-fashionable gourmand meals at reasonable costs, Gurgaon based Foodport boasts a current traction of approximately one hundred meals consistent with day. They were bootstrapped initially, at the same time as best serving lunch and snacks for five days a week (Monday – Friday).
They have now raised a seed funding of $100k from GHV Accelerator and plan to reach 500 orders according to day by means of October 2015,intending to include weekends and dinner orders plus actual-time deliveries. Adding directly to the potential plans, “We are concentrated on a GMV of $45-50K consistent with month, by means of October 2015,” said Aman.
Vikram Upadhyaya Chief Evangelist and Mentor at GHV Accelerator says, “Most meals startups we evaluated from the eco-device were both tech-focused or food-focused; however in Foodport we located the suitable marriage that makes this model scalable and gives them the possibilities of having that hockey-stick increase chart we search for.”
The Website gives four time-slots (among 12 PM-4 PM) for food delivery, orders can be located forty five mins earlier than the time-slot closes. The meals gets introduced in a pre-constant time fit in a lovely packaging, with all of the aromas intact.
FoodPort lets in consumer to pick the time, after they need to get the meals brought, and the packaging container is 100% recyclable and the trays internal are microwaveable.
- Important Figures
- Average Ticket Size: INR 2 hundred
- Ratio of Old v/s New Customers: three:1 (75% are habitual)
- Operational Cities: Gurgaon
- Team Size: 12 (including the transport group)
- Present Traction: one hundred meals/day
- No. Of Dishes presented: Roster of 60+ dishes, which keeps rotating to have four-6 fundamental courses, plus desserts and snacks in step with day.
- No. Of Cuisines: three (Indian, Continental and Oriental )
Challenges
Talking of the challenges, Aman Gupta, Co-Founder FoodPort said, “There are numerous demanding situations that rise up while delivering connoisseur meals. From how it appears, to the way it travels – both are seriously crucial. The system has to be a notch above the rest, and this is wherein we’ve spent a huge chunk of our resources on. We are locating approaches to use generation to innovate in this space, and that’s what absolutely makes us a meals-tech organization, and not just a meals corporation.”
Competition and Market Size
According to Aman, Food Delivery is a $2 Bn market growing at 30-forty% yearly. Some of the closest competitors to FoodPort are – Delhi-based Frsh, Delhi-primarily based Foodeato, Gurgaon-based totally Yumist, Gurgaon-primarily based Eatonomist – all of them are internet first eating places and goal the equal userbase as FoodPort.
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Other Indian companies running on a comparable model are SpiceBox, iTiffin, Bhukkadpanti, Nashta, NutriTown and Mr.Hot. Global comparables of Foodport are Munchery, Sprig and SpoonRocket.
Speaking about competition, Aman says, “There are a lot of competitors who have carved a niche for themselves on this area. We differentiate ourselves by using our meals, i.E. Connoisseur and nutritious food at low-priced costs. We try to curate our each day menu in a any such way that the food is ‘addiction-forming’, inside the sense that it’s nutritious, hygienic and of route, scrumptious. It isn't always just food, it's far an revel in.”
