The rise, fall, and rise of FreshMenu

Within a few years, foodtech startup FreshMenu has battled several funding crunches, reports of a potential acquisition, and a pandemic.

However, despite the headwinds, FreshMenu—which started as one of the first cloud kitchens in India—remains resilient.

While the pandemic shook things up for many sectors, Founder and CEO Rashmi Daga says the biggest shock to the foodtech sector, and to FreshMmenu, was the Prosus (then Naspers)-led $1 billion funding in Swiggy in 2018.

This was soon followed by Zomato netting fresh capital from the likes of Alibaba. She says, the funding FreshMenu was set to raise suddenly froze.

“It generally doesn’t take time for tides to turn around. The $1-billion funding had made everyone wary. People wanted to wait and see, and the sector, as they say, had become too hot. Everyone wondered what the well-funded startups would now do as they had raised significantly large amounts of money,” says Rashmi.

In an exclusive interview with HerStory, Rashmi talks about the rise, fall, and rise of the foodtech startup. Read more.

Editor’s Pick: Unpacking Money View’s growth

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Bengaluru-based fintech startup Money View claims it turned profitable in FY 2022, with an annualised revenue run rate of Rs 600 crore.

The startup says it caters to more than 200 million underserved customers, who are often ignored by banks and other formal financial institutions. Amid thousands of companies offering credit to customers, here’s what has helped Money View grow.

Startup Spotlight

School fee payments made easy

Launched in June 2021, zenda helps families track school fee dues and make payments through a multitude of pay-now and pay-later options.

zenda says it integrates with schools through its proprietary data model and APIs (Application Programming Interface) and eliminates last-mile reconciliation challenges and delays. Read more.

In the race for premium activewear

Mumbai-based TEGO is a D2C (direct-to-consumer) premium performance activewear, fitness gear, and accessories startup. The brand claims to have sold over two lakh products so far, witnessing a 2X growth in the last two years. Read more.

Before you go, stay inspired with…

Lots of important companies were started during down cycles. Your conviction will be tested. Those that survive will be stronger.

- Brian Chesky, Founder and CEO, Airbnb

Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!