Talking about the product, Anand Lunia, co-founder of India Quotient said, “Meta search engines only work when the underlying market is deep enough. We believe the time for that has now come for food. The revenue model is a mix of media and lead generation. Hence, the company will have high operational efficiency and will have business economics of a tech media company.”
Founded in 2015 by Chirag Taneja and Abdul Khalid, Ketchupp recommends the best dishes driven by its AI-based algorithm. It neither takes online orders, nor is it a delivery-based company.
The team believes that with today’s on-the-go user being confused for choice, a meta search engine is the need of the hour. The team plans to utilise this round of investment in making a robust product through analytics, big data, and enabling tech solutions.
According to a company statement, it currently caters to nine cities (Delhi, Noida, Gurugram, Hyderabad, Bengaluru,Pune, Mumbai, Chennai, Kolkata ) with more than 10,000 most recommended dishes. It claims to cater to 250K users monthly.
Mumbai-based early stage investor, India Quotient was founded in 2012 by Anand Lunia and Madhukar Sinha who was an investment executive at Aavishkar, a social entrepreneurship-focussed venture capital fund. In April 2016, Mumbai-based early-stage investor, India Quotient (IQ) announced plans to launch an accelerator programme IQ Snipers. A few of their portfolio companies include Holachef, Carwale, Roposo, Care24, DogSpot, 91mobiles among others.