SUMMARY
Founded in 2015 by Deepanshu Manchanda and Shruti Gochhwal, ZappFresh is based out of Gurugram
As a part of the deal, ZappFresh will use Dr. Meat's supply chain across the targeted region
ZappFresh aims to reach a revenue of INR 70 Cr within 12 months in Bengaluru alone
D2C meat delivery startup ZappFresh has acquired Dr. Meat, a brand operated by Sukos Foods. The startup said the acquisition marks a milestone as it aims to expand across the south Indian market.
Founded in 2015 by Deepanshu Manchanda and Shruti Gochhwal, ZappFresh is based out of Gurugram and so far, was delivering meat only in the Delhi-NCR region.
With this acquisition, the startup primarily aims to enter the market of Bengaluru along with new markets by next year. As a part of the deal, ZappFresh will use Dr. Meat’s supply chain across the targeted region.
ZappFresh aims to reach a revenue of INR 70 Cr within 12 months in Bengaluru alone, while targeting an overall INR 300 Cr revenue by the end of FY 23-24.
The startup is aiming at building traction in the Bengaluru market for the next six months by entering into new pin codes. Through this, ZappFresh hopes to strengthen its position in the region.
Commenting on the acquisition, Manchanda said, “We have actively sought opportunities for strategic partnerships and acquisitions in recent years. However, Dr. Meat stood out among other D2C contenders due to its strong alignment with ZappFresh’s fundamental principles.”
He claimed that the business has been profitable for the last four years and anticipates reaching the target revenue within a year.
According to ZappFresh, it is going to be proactive in seeking additional opportunities for growth and this acquisition is just the tip of the iceberg. It expects that the expansion plans will be complemented by further acquisitions, for which it is in talks. It aims to leverage the supply chain that it has built from scratch.
As a D2C startup, ZappFresh claims to have garnered support from notable investors, including SIDBI VC, Dabur Family Office, LetsVenture, Keiretsu Forum, and several prominent angels.
The D2C meat and grocery delivery industry rose to fame quickly with the lockdowns during the pandemic and has become a competitive market.
In this industry, ZappFresh already has a unicorn competitor Licious. In addition, it also has competitors like Swiggy Instamart, BigBasket, Blinkit, TenderCuts, etc.
