Twigly raises $200K seed funding from Traxcn Labs and others angel investors
Curated food marketplace startup, Twigly, has raised seed funding of USD 2,00,000 from Tracxn Labs and a clutch of angel investors. The angel investors include Amit Gupta (Co-founder, Inmobi), Aloke Bajpai (Founder of Ixigo), founders of Delhivery, Ashish Kumar (founder of Staybees and Techriti), and partners and employees of SAIF Partners.
Twigly said it is trying to break existing models by providing nutritive food, prepared with fresh and quality ingredients to a delivery-only format. It said it serves food with quality ingredients in the offline QSRs (Quick Service Restaurants) and the fine dining restaurants market, at a 20-30 per cent lower price point.
"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," Co-founder of Twigly, Sonal Minhas said.
"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. The Gurgaon-based company has accumulated a base of over 500 customers in its one month of operations so far.
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