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The Cloud Kitchens in India have overcome the conventional food services and is most welcomed by everyone. It is also preferred especially in this time of the pandemic. FreshMenu is one such company that was founded by Rashmi Daga in 2014. This cloud kitchen has been the favorite of locals since its launch and today the company has grown up to making 13,000 orders per day across the nation. Here is the Food Tech Startup’s journey and endeavors.
FreshMenu – Company Highlights
| Startup Name | FreshMenu |
|---|---|
| Headquarters | Bengaluru |
| Sector | Food Processing |
| Founder | Rashmi Daga |
| Founded | 2014 |
| Parent Organization | FoodVista India Private Limited |
| Website | www.freshmenu.com |
FreshMenu – About
FreshMenu – Founders and Team
FreshMenu – Vision and Mission
FreshMenu – Name, Tagline, and Logo
FreshMenu – Growth and Revenue
FreshMenu – Funding and Investors
FreshMenu – Business Model
FreshMenu – Campaign
FreshMenu – Competitors
FreshMenu – Future Plans
FreshMenu – About
FreshMenu is a food-tech startup that delivers food to the cities of Bangalore, Delhi, Hyderabad, Chennai, Pune, and other nearing places. The specialty of the startup lies in its variety of cuisines with highly experienced chefs and a daily changing menu. The startup keeps up its name with the early delivery of fresh food. Also, the demanding everyday menu is the major reason for the growth of the company to 27 kitchens in three years, with 500 staff members escalating to 700 delivery personnel. Chefs at the kitchen experiment new dishes with fascinating ingredients such as ancient grains and exotic vegetables added in good quantities at reasonable prices. The company looks after its delivery costs without relying on third-party logistics and saves its rentals and other high operating costs.
StartupTalky
FreshMenu – Founders and Team
Rashmi Daga is the founder and CEO of FreshMenu. Before launching FreshMenu, she worked as a Sales Head at Ola Cabs and she was also the founder of Afday.com. She is a graduate from IIM Ahmedabad and completed her bachelors from Delhi College of Engineering. She is recognized with many prestigious awards such as ET Prime Women Entrepreneurship Award, ET Facebook Women Ahead Award, and a lot more. The company now operates with around 1000 employees.
FreshMenu – Vision and Mission
The food delivery platform’s mission is to make the food experience a greater one with simpler delivery options through FreshMenu’s fresh and delicious food.
FreshMenu – Name, Tagline, and Logo
The name depicts the service of the company i.e., to deliver fresh food.
StartupTalky
FreshMenu – Growth and Revenue
The company has achieved breakeven in the fiscal year 2019. It earned a total of Rs.141 Crore with a net burn of Rs.30 Crore when compared to Rs.123.72 Crore in revenue. 45% of the orders come from its app and the other 55% of the orders comes from Swiggy and Zomato. FreshMenu receives around 13K orders every day with the average price of each order is $5.
“FreshMenu aims at being the solution: great delivery and great food, for anyone whenever they are hungry. Our business model was always designed to be full-stack and hence bring the best quality of food to customers" says, Rashmi Daga, Founder of FreshMenu.
FreshMenu – Funding and Investors
FreshMenu has raised a total of $25.8M through seven different funding rounds.
| Date | Stage | Amount | Investors |
|---|---|---|---|
| February 2015 | Series A | $5M | Lightspeed Venture Partners |
| January 2016 | Series B | $17M | Zodius Capital |
| October 2017 | Series B | - | Brand Capital |
| July 2018 | Venture Round | - | InnoVen Capital |
| January 2019 | Series B | $2.9M | Lightspeed Venture Partners |
| August 2019 | Venture Round | $500K | Lightspeed India Partners |
| May 2020 | Venture Round | Rs.30M | - |
FreshMenu – Business Model
FreshMenu makes use of its wide range of cuisines like Mexican, South Asian, Italian, and a lot more to garner the revenue. Promptness in delivery and daily changing menus paired with the freshness of the food are the special worth of FreshMenu. It offers end-to-end services within a radius of 4-5km from its cloud kitchens and operates on a Full Stack Business Model.
FreshMenu – Campaign
“Vocal For Local” is a campaign organized by FreshMenu to promote the usage of ingredients collected from local farms for food preparation. This campaign was fostered on social media and other platforms. The company states that they have been following this approach since their launch, as they serve to local customers. They also posit this through their tagline, “When you order FreshMenu, you order Local”. FreshMenu also has partnerships with various farms and ensures high-quality and hygiene in the food.
FreshMenu – Competitors
The top competitors of FreshMenu are Swiggy, Zomato, Rebel Foods, BOX8, InnerChef, Uber Eats, Food Panda, and HolaChef. FreshMenu sustains its supremacy with its Innovation kitchens, dynamic menu, and well-trained chefs. FreshMenu differs from other food startups by operating as both a takeaway restaurant and a cloud kitchen.
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FreshMenu – Future Plans
The future plans of the company are to make a profit by adding more sub-brands and reduce the inventory level costs. FreshMenu is also planning to introduce a new pizza brand to serve its different set of customers. Also, the company is planning to expand its services in at least 10 cities in two years, adding to the existing 200 delivering cities in India. It also plans to increase its marketing spends to 8-10% of revenue post fundraise.
Author: Himaya Presthitha
Source : https://startuptalky.com/freshmenu-success-story/
Date : 2020-09-15T04:58:14.000Z