ZappFresh, the omnichannel meat delivery platform, has successfully raised $4.3 million in a funding round led by Heifer Impact Capital, along with participation from Hindustan Media Ventures, Ah! Ventures, and Unity SFB. Although the valuation remains undisclosed, it surpasses the previous round’s valuation of $22.9 million in 2019.
Hindustan Media Ventures Ltd invested INR 11.99 crore, acquiring a 3.54% stake in DSM Fresh Foods, the entity behind ZappFresh. The funding, sealed on November 20, 2023, will fuel ZappFresh’s plans to diversify its product offerings, introducing premium country meat and enhancing distribution capabilities.
Founded in 2015 by Deepanshu Manchanda, ZappFresh stands out with a reported profit of INR 3.5 crore in FY23 on a revenue of INR 70 crore. This profitability distinguishes it in the online meat sector where competitors like Licious and FreshToHome grapple with substantial losses despite higher revenues.
The funding will facilitate the introduction of new product lines, including poultry, goat meat, seafood, and ready-to-eat items. Additionally, ZappFresh aims to extend its operations to two more cities within the next 12 months. As part of its commitment to sustainable practices, the startup will collaborate with around 40,000 women farmers to source premium chicken meat under the agreement with Heifer Impact Capital.
That’s amazing news about ZappFresh! It’s great to see them raising $4.3 million in funding. With their plans to diversify their product offerings and expand to more cities, they’re definitely making some big moves in the meat delivery space.~ Dr Shishir Gupta founder & CEO of StartupLanes
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