Investments, Startups

Food Delivery Startup SpoonJoy Raises Angel Investment from Sachin Bansal and Others


Bengaluru based food delivery startup, SpoonJoy has raised an undisclosed amount in angel funding from Sachin Bansal (Co-Founder Flipkart), Mekin Maheshwari (CPO Flipkart), Abhishek Goyal (Founder, Tracxn) and Sahil Barua (Co-Founder, Delhivery). As per a YourStory report, the new funding will be used to build its technology and scale up its operations.

Founded by  Manish Jethani, SpoonJoy offers subscription service for delivering the food of the user’s choice to their home or office. The company has also come up with an app for Android Users in Bengaluru to order the food and also plans to roll out an app for iOS users. The firm’s future plans also include expanding to more cities and reach out to a larger customer base. The startup receives about 350-400 orders a day, majority of which comes from offices.

In August this year, ex-Flipkart led iTiffin, an online meal service provider, had raised USD 1 million in seed funding. Earlier this month, Mumbai-based food ordering app, TinyOwl had secured USD 3 million led by Sequoia Capital and Nexus Ventures Partners to expand its presence in Mumbai as well as in other metros.

Recently, Delhi-based restaurant listing site Zomato, had raised USD 60 million in series E round led by Vy capital, Info Edge Limited and Sequoia Capital. Last month, Rocket Internet backed Foodpanda acquired Pune-based TastyKhana for an undisclosed amount.

Even though the online marketplaces like Flipkart, Jabong, Amazon etc. seem to be more active in making news often and raising funding, online food ordering and delivery seems to be another e-commerce segment that is hot among the investors.

Image Source: Resiliencefitness

Have content to share? Share with us for review