The food-tech business in India has apparently garnered itself a title of one of the hottest business segments in India. Hoping to grab an ample piece of this fortune, Twigly kicked off its operations in August and has today received a sum of $200,000 from angel investors, including Amit Gupta, co-founder of InMobi, Sahil Barua, co-founder of logistics firm Delhivery, Mukul Singhal of SAIF Partners, TracxnLabs, an incubator backed by Flipkart co-founders Sachin Bansal and Binny Bansal, and Deepak Singh of Anzy Careers.
Founded by Sonal Minhas, Rohan Dayal and Naresh Kumar Kachhi, Twigly works on an online kitchen model. The food is made at a central kitchen and shipped to customers directly. Twigly says, that this model helps them to ensure that the food that is delivered is made up of one of the finest ingredients.
Furthermore, Twigly makes a change to its menu every week so that no user get bored of its food. As per the figures provided, the company ships close to 40 orders a day with an average ticket size of Rs.500. The company’s 600 sq. ft kitchen in Gurgaon’s Sector 26 has the capacity to address 120-150 orders in a day.
Founder Sonal Minhas said –
We aim to be the next Yum Brands equivalent in the emerging food-tech world. Our model is comparatively very asset light, as we only invest in capacity building of products for which we believe we can do a better job. For other items, we act like a curated marketplace.
Notably, the startups is Gurgaon based, a perfect area to start such a business where people are mostly either single or work in some corporate sector. Currently, Twigly delivers food only to some parts of Gurgaon. With this round of funding, it plans to add another kitchen in the next 45 days, which will be able to address 400 orders a day.
To ensure user satisfaction, Twigly plans to bring some part of delivery fleet directly under the company’s reign while for others it will establish tie ups with third-party hyperlocal delivery companies such as Opinio in the future.
Twigly says it delivers food at prices 20 to 30 percent lower than what other restaurant offers. And with this incentive, it has managed to notch up 500 customers already. It claims that it can deliver pared gourmet meal at home, at your office desk, in a team meeting, or even in an Uber or Ola, on-the-go.
The food tech business definitely seems a flourishing market. However, this investment comes at a time when the segment is dangling a bit much. Last month, Tinyowl reportedly fired 600 employees, while Helpchat let go of over 150 employees in October. Most recently, Zomato cut 10% of its global workforce. Other shops and companies are on the verge of being shutting down. Experts say that over a long run, these organizations have started to loose traction and investors attention too.