Tuesday, November 29, 2022
HomeInsightFunding Alert Redbasil Raises $330K Seed Funding Led by Mumbai Angels

[Funding alert] Redbasil Raises $330K Seed Funding Led by Mumbai Angels

[Funding alert] Redbasil Raises $330K Seed Funding Led by Mumbai Angels

Redbasil, a tech-driven, zero-inventory marketplace for wholesale food supply for restaurants and cloud kitchens, has raised $330k as part of its seed funding round from Mumbai Angels.

SAT Industries, Planb Capital and other investors also participated in this round.

The startup plans to use the funds to expand its on-ground operations and sales team in the Delhi NCR region and invest in engineering resources and technical infrastructure.

Gurugram-based Redbasil was founded in 2021 by Naman Dayal, Its digital marketplace model enables restaurants and cloud kitchens to supply high-quality food through its mobile app.

“Redbasil was founded with a simple idea – making wholesale food supply reliable and convenient. We found that the Indian food value chain faced multiple challenges like inconsistent quality, volatile pricing and delayed deliveries, creating a major gap in the system. Redbasil was conceptualized as a digital marketplace to address these challenges for commercial kitchen operations in India. We have received an incredible response from our customers. We’re delighted to be backed by marquee investors in our journey of building a robust ecosystem in the food value chain for restaurants and cloud kitchens. This funding will help us achieve our goal and reach greater heights”, said, Naman Dayal, Founder & CEO of Redbasil.

It also aims to onboard 500+ outlets and have a monthly GMV of over INR 1.5 Crore with funding.

The company plans to expand into its core categories of fresh produce, fresh meats, seafood and dairy products, as well as start operations in new categories such as imported groceries and frozen products.

“We are confident that the latest infusion of capital will help the platform tap into the immense potential in the market, cater to more customers, and scale the business”, said, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels.

Since its inception, the startup has sourced production for over 2,000 SKUS with over 5,000 in the pipeline.

It has also connected over 100 food outlets across Delhi NCR with 25 high quality suppliers from various wholesale markets, local traders and branded distributors.

About Redbasil

At Redbasil, their ambition is to transform the way small businesses in the food & beverage ecosystem discover, connect and transact with each other. Their online marketplace improves quality, transparency and price discovery for restaurants, while offering suppliers a full-featured digital storefront to grow their business.

Redbasil’s asset-light B2B marketplace features a curated catalog of 10k+ ingredients and high-quality food suppliers, vetted by leading chefs and kitchens. Mobile-app-based digital storefront, procurement, order fulfillment and payment transactions enable simple, fast, accurate and low cost operations.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -
Newsletter

Subscribe to our weekly newsletter and don't forget to check out the latest updates.