[Funding alert] Artha Venture Fund leads investment of Rs 3.5 Cr in foodtech startup Daalchini
Delhi-NCR based Daalchini plans to deploy the funds to expand its product range, improve logistics, strengthen its brand identity, and recruit a strong management team.
Daalchini Technologies, a phygital (physical + digital) vending machine company, has raised Rs 3.50 crore in a seed round, led by Artha Venture Fund.
The Delhi-NCR based foodtech startup plans to deploy the funds to expand its product range, improve logistics, strengthen their brand identity, and recruit a strong management team.
Founded by former Paytm employees Prerna Kalra and Vidya Bhushan, Daalchini is a phygital vending machine company that provides healthy, affordable, and home-cooked meals to corporate employees. Its products can be ordered through a mobile app or on the vending machine's digital screen itself.
Commenting on the company and investment, Prerna said:
"There are over 3,500 small tiffin services in Delhi/NCR, but they are rarely able to achieve scale. Unlike restaurants, home-chefs do not have ready-made items, and cannot deliver food within 40 minutes. They prepare it fresh on order and hence need a specialised distribution channel and predictable demand. A lot of our partners don’t only cook for money, but have a story to tell. We, at Daalchini, equip them with ‘Reach, Revenue, and Recognition’. For corporate employees, we are solving the 40 minutes problem at Rs 40 by providing instantly available healthy quick bites at work at an affordable price. We are glad that Artha Venture Fund believes in our vision to make home-food instantly accessible to all, through Daalchini’s new-age distribution channel."
The company claims to have 70 kiosks currently serving around 3,000 meals a day across the Delhi-NCR region. It caters to over 40 clients including companies such as Paytm, Snapdeal, OYO, and Ernst & Young.
“The growth in dual income households is creating a pain-point in the availability of quality, affordable food. Daalchini solves this problem with a truly innovative solution that could become a game-changer for the whole space. I am excited about their idea, their phenomenal growth in number of transactions, and I truly envision amazing prospects for them," said Anirudh Damani, Managing Partner, AVF.
(Edited by Megha Reddy)