Redbasil, a B2B marketplace for food outlets with minimal assets, has received funding from Mumbai Angels, a prestigious platform for private investments. The marketplace includes a curated catalogue of more than 10,000 ingredients and premium food providers that have been reviewed by renowned chefs and test kitchens. Leading the funding round was South Asia Tech Partners.
The funding will be used by Red Basil to grow its ground operations and B2B sales force. The business will also spend the money on a new web-based platform to go along with its current mobile apps and on enhanced analytics, as reported by Newspatrolling.com.
Nandini Mansinghka, CEO of Mumbai Angels, said, “The F&B industry witnesses ever-growing demand. It’s also extremely competitive with thousands of vendors and third-party marketplaces. Redbasil has been able to carve a niche for itself in the space with its tech-based operational system and constant innovation. This funding is a testament to its efficiency and growth, and we are confident that the recent capital infusion will help the startup scale further and reach new heights.”
Redbasil will invest the money in sophisticated analysis and an entirely novel web-based platform to supplement its current apps, in addition to growing its B2B sales force and ground operations.
“As we press on to drive quality, transparency and price discovery for restaurants, and offer suppliers a full-featured digital storefront to grow their business, we are thankful to our existing investors for their continued trust in us. The funds raised will propel our growth further as we work towards our core mission of making India’s wholesale food supply reliable and convenient.” added Naman Dayal, Founder and CEO of Redbasil.
The asset-light B2B marketplace Redbasil, founded in 2021, offers a curated selection of more than 10,000 ingredients and premium food suppliers. Digital storefront, purchase, order fulfillment, and payment interactions powered by mobile apps provide easy, quick, precise, and affordable operations.