Delight Foods raises $500K
E-commerce platform for branded Indian food products Delight Foods has raised $500K (around Rs 3.3 crore) in funding from an HNI family office represented by LN Sadani of Lensbridge Capital in Singapore.
Existing investors Mape Advisory Group and Fireside Ventures also put in money in this round.
Delight Foods, owned by Bangalore-based GFOI Retail Pvt Ltd, plans to utilise this funding to invest in marketing activities and build a strong brand in the packaged food/ food ingredients space, said a company statement.
It had raised $150K in pre-launch funding in July 2015 from investment bank Mape Advisory Group and Fireside Ventures.
The company was co-founded by Ramesh Krishnamurthy and HS Srinivasan in December 2014.
Delight Foods recently started servicing the Delhi-NCR region and plans to launch its operations in Mumbai, Hyderabad and Chennai over the next couple of weeks.
Delight Foods is an online platform which retails more than 600 food products across categories such as snacks, dry fruits and masalas from over 60 brands sourced from 11 cities in India.
"The innovative supply chain model that Delight Foods uses has proved to be a game-changer," said Ramesh Krishnamurthy, CEO, Delight Foods. "The technology developed for scheduling the pick-ups, tracking the products using barcodes and sorting at destination has helped the company achieve high levels of order fulfillment rates on time."
Krishnamurthy is an IIT/IIM alumnus with 25 years of retail, sales and marketing experience, having worked earlier at Unilever, ICI Paints, Nokia and GMR Airports. Srinivasan is a logistics professional with 20 years of experience, having worked with companies such as Nokia and Reddington. He has also worked at Letsbuy.com and HomeShop18.