[Funding alert] The Meat Chop Raises INR 7 Cr in Seed Funding

The Meat Chop (TMC) has raised INR 7 crore in Seed funding from Mohan K (co-founder, IppoPay), Ankur Agarwal (co-founder, Dunzo), Meenakshi Sundaram, Jaikumar R (co-founder, IppoPay), Rahul Mahipal (founder, Capitar Ventures), Omar Bin Brek (founder and CEO, Foloosi a UAE based FinTech), Amith D'Souza Google, and other global angel investors.

The money generated will be used for growth, creating a solid team and brand, improving technology, and constructing a stronger supply chain infrastructure, as per reported by Entrepreneur.com.

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"Our goal is to create a platform to fix the information asymmetry in supply and demand that has plagued this market for a very long time. While 99 per cent of the $70 billion meat and seafood retailing is handled by the local butcher stores, the incentives were not actually reaching the butcher stores due to limited product shelf life, poor sourcing and lack of access to technology," said Appaas, CEO, The Meat Chop.

According to a statement from the firm, TMC's data-driven and technologically supported systems enable neighbourhood butcher shops to provide exceptional customer service and successfully compete with major retail chains through in-store and online sales.

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"TMC is bringing the benefits enjoyed by organised players to the local butcher shops including quality sourcing, tech stack, data analytics and last mile delivery. With meat and seafood retailing continuing to be very localised and personalised, TMC can help the local butcher shops extend modern shopping experience to the next billion customers," said Ankur Agarwal, co-founder, Dunzo.

The butcher shops on its network have experienced a 50% to 60% increase in sales volume, reduced dump by 90%, and generated an average annual revenue of close to INR 1.5 crore, as reported by Entrepreneur.com.

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About The Meat Chop

Appaas, Kalyan, Navas, and Yasar founded The Meat Chop in January 2021 as a platform for local butcher shops that is fueled by technology and supply chains.