Zappfresh to acquire majority stake in Avyom Foodtech

Delhi NCR–based meat delivery startup Zappfresh's board has approved the acquisition of a 51% stake in Avyom Foodtech Private Limited, investing ₹7.5 crore through a private placement.

The company said the acquisition will help it enter the ready food space, including ready-to-eat and ready-to-cook products, and expand into international export markets.

The acquisition is expected to be completed within 3–9 months. The investment in Avyom Foodtech will be released in stages over time, as outlined in the business transfer agreement, the company said.

Read Also- Mirae Asset Venture India appoints Puneet Kumar as CEO

Avyom Foodtech was founded in 2022 by Zappfresh directors Deepanshu Manchanda and Priya Aggarwal. Zappfresh said the company makes frozen and shelf-stable food products, including snacks, gravies, sauces, and other related food items.

The proposed subsidiary reported a turnover of ₹14.9 lakh in FY25, down about 32% from ₹19.6 crore in the previous year.

Avyom has also signed a binding agreement with Ambrozia Frozen Foods to acquire its food processing business through a slump sale. The deal includes around five acres of land, a fully operational food processing unit, and related plant and machinery, along with liabilities such as bank loans and trade payables.

Founded in 2015 by Deepanshu Manchanda and Shruti Gochhwal, Zappfresh sources meat directly from farms and says it delivers orders to customers within 90 minutes. The company currently operates in Delhi-NCR and Bengaluru.

Advertisment

Zappfresh listed on the BSE SME exchange in October 2025, raising ₹53 crore through a fresh share issue. While most of the IPO funds were originally planned for marketing, capital spending, and working capital, the company had also set aside some money for acquisitions.

The board has now revised this plan. Zappfresh will use ₹12.2 crore for acquisitions, up from the earlier ₹2.2 crore. To fund this change, the company has cut its planned spending on capital expenditure and marketing by ₹5 crore each, according to the filing.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.

Advertisment