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Bangalore-based ecommerce startup for branded food products, Delight Foods, which is owned by GFOI Retail Pvt. Ltd has raised about $156k (about INR 1 Cr.) in seed round funding led by investment bank MAPE Advisory Group and Fireside Ventures.
The funds will be used in expansion of the team as well as in launching the marketing campaign in Bangalore in August. The company is also planning to enter into new categories and roll out the business nationally in the next couple of months.
Launched in December 2014 by Ramesh Krishnamurthy, HS Srinivasas alongwith three more founding team members i.e. Vineet Khicha, Vineet Goel and Amit, Delight Foods is an ecommerce platform that helps in bringing together iconic Indian food brands under one roof. Currently, it caters hand-picked and carefully curated Indian foods in 5 categories – sweets, savouries, bakery items, papads/pickles and masalas/mixes.
Delight Foods has over 60 brands and 600 products sourced from 11 cities in India which will offer consumers a chance to access famous products like Panchi Petha from Agra, Lonavala Chikki, Chitle Bandhu Bhakarwadi, Grand Sweets Murukku and many more.
“Delight Foods has packing centres in each city of operation where food items, ordered by customers through the platform, are collected from various vendors in that particular city” said Krishnamurthy, who along with his team have put together an innovative supply chain and packaging systems to deliver these orders that has been test operated for two months before launch.
The company is partnering with big brands all across the country and are looking for opportunity for these brands to access a national market. The aim is to become a comprehensive premium food retail brand and have special services for festivals, gifting and subscriptions.
Currently, the market for branded foods in India is more than $20 billion.
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