Investments, Startups

Online Tiffin Marketplace FoodAbhi Raises Seed Funding

Mumbai-based online tiffin marketplace FoodAbhi, which delivers tiffin service for lunch and dinner orders, has raised seed funding from investors based in US, UK, Netherlands and India. The company plans to use the funds for expanding its presence to other cities, as well as for technological advancement.

Currently, the firm operates in Mumbai with a minimum order price of Rs 70 and plans to cover the entire city soon. In the next two months, it is looking to expand its reach to Pune & Bangalore and later Delhi.

Founded in 2013 by Amit Dube and his wife Shraddha, it is an online tiffin marketplace that claims to served over 15,000 tiffins in Mumbai. It has approximately 30 food vendors listed on its website to cater to a variety of tastes and cuisines. Food vendors are listed free of charge on the company website and keeps on organizing scheduled and surprise audits to check on hygiene, ingredients used, etc on a regular basis.

The Indian food market size is expected to touch around Rs 42 trillion by 2020, that was around Rs 23 trillion in 2014, according to consultancy Boston Consulting Group.

In August 2014, Bengaluru based online meal service provider, iTiffin, had raised $1 million in seed funding.

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