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News on Medial
Lacking bite and funding, online meat ecosystem returns to the drawing board
Economic Times
·
1y ago
Medial
The online meat and seafood industry in India is facing challenges as consumers are returning to physical markets and inflation is raising input costs. The online market currently represents less than 1% of the overall meat and seafood market in the country. Despite significant investments from marquee investors, the sector is experiencing a slowdown in growth, leading to a reassessment of the customer base and valuations. Firms in the online meat segment are focusing on strengthening their unit economics and forming partnerships with offline players. Operational efficiency and wastage control remain key challenges in the industry.
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Meat delivery startup ZappFresh acquires Dr Meat for $3 million
Economic Times
·
2y ago
Medial
Meat delivery startup Zappfresh has acquired Dr. Meat, a meat retail brand, for a reported sum of $3 million. The acquisition will allow Zappfresh to strengthen its presence in the meat retail segment and expand its product offerings. The deal showcases Zappfresh's commitment to growth and market consolidation in the online meat delivery industry in India.
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Online meat startup Captain Fresh raises Rs 100 crore from Motilal Oswal Wealth
Economic Times
·
7m ago
Medial
Bengaluru-based online meat and seafood firm Captain Fresh has secured Rs 100 crore in funding from Motilal Oswal Wealth, as it prepares for its planned public listing in 2023. The funding came in the form of 1,002 Series C11 compulsorily convertible preference shares, and following the investment, Motilal Oswal will hold a 2.26% stake in Captain Fresh. The company is currently in talks to appoint bankers for their upcoming IPO. Previously, Captain Fresh raised $48 million in February, led by SBI Investment and Evolvence Capital. Founded in 2019, Captain Fresh operates in the B2B model, supplying meat and seafood to sellers in India and global markets.
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Good To Go Acquires Paragon Backed TenderCuts In A Distress Sale
Startup News FYI
·
1y ago
Medial
Delhi NCR-based omnichannel meat brand Good To Go is acquiring Chennai-based meat delivery startup TenderCuts. The acquisition includes TenderCuts' tech platform, Happy Chops, which offers an online storefront and procurement support to local butcher shops. TenderCuts has faced financial difficulties and had to shut down operations in multiple locations. Sources indicate that TenderCuts' founder and co-founders may leave the company after the acquisition. Good To Go plans to retain TenderCuts' brand identity and aims to grow in the competitive meat delivery segment.
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Attracting global VCs to bridge late-stage funding gap: DIFC Innovation Hub CEO
VCCircle
·
2m ago
Medial
The DIFC Innovation Hub, led by CEO Mohammad Alblooshi, is seeking to attract global venture capital firms to address the late-stage funding gap in Dubai's startup ecosystem. While early-stage funding is abundant, growth-stage capital is lacking, necessitating efforts to draw international investors to the region. The hub, hosting over 1,240 tech firms, offers regulatory support and aims to unlock local capital, positioning Dubai as a hub for fintech and AI innovation.
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GoKwik acquires Shopify app Return Prime, forays into global market
Economic Times
·
11m ago
Medial
Bengaluru-based eCommerce enabler GoKwik has acquired Return Prime, a returns management app in the Shopify ecosystem. The acquisition allows GoKwik to enter international markets such as the UK, Europe, and the US. Return Prime provides a platform for brands to manage returns and convert them into revenue opportunities. Efficient returns management has become crucial for merchants as online shopping continues to grow. With this acquisition, GoKwik aims to improve the customer experience, boost merchant revenue, and increase customer lifetime value. The company plans to onboard 10,000 new merchants and expects significant revenue growth in the coming years.
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D2C Meat Delivery Startup Zappfresh Files DRHP To List On BSE SME
Inc42
·
11m ago
Medial
Zappfresh, an online meat delivery platform, is planning an IPO consisting of a fresh issue of 59.06 lakh equity shares. The company, founded in 2015, operates in the Delhi NCR region and delivers meat through its website and app. The funds raised from the IPO will be used for various purposes including acquisitions, marketing, capital expenditure, and working capital requirements.
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Licious eyes bridge round amid operational hurdles
VCCircle
·
1y ago
Medial
Indian online meat delivery startup Licious is reportedly planning to raise a bridge round of funding from existing investors as it faces challenges such as slower topline growth despite aggressive marketing efforts and the introduction of new products. A bridge round is a smaller fundraising exercise conducted between larger rounds to bridge financial gaps. Temasek Holdings is one of the prominent investors in Licious.
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'₹35,000 a month...': Viral post on PhD stipends sparks uproar over India’s research funding neglect
Business Today
·
4m ago
Medial
India's research ecosystem suffers from chronic underinvestment, impacting scientific infrastructure and support. This neglect forces researchers to choose between their passion and survival, in a system valuing rote learning over inquiry. Concerns about quality in research programs are prevalent, with many PhD aspirants and guides lacking necessary skills and over 80% of institutions lacking proper infrastructure. Consequently, many students resort to PhD programs as a means to secure a monthly income.
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Plant-Based Protein Eaters Still Want It to Taste Like Meat
Robots
·
1y ago
Medial
Plant-based proteins, particularly those closely resembling animal-based meat, are on the rise in the foodservice industry. Despite growth in sales and preference for meat-like alternatives, taste remains a challenge. Companies like Black Sheep Foods are working to improve plant-based meat flavors. Meanwhile, companies like Enough and Meatable have secured funding to meet the demand for plant-based protein. Sustainable seafood, baby nutrition, fermentation processes, and cow plasma extraction are also noteworthy developments in the food tech industry.
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Captain Fresh raises Rs 250 crore in a pre-IPO funding round
Economic Times
·
6m ago
Medial
Captain Fresh, an online meat and seafood firm, raised Rs 250 crore in a pre-IPO funding round led by Prosus Ventures, Accel, and Tiger Global Management. The funds aim to help exceed $1 billion in revenue within the next year and prepare for a stock market listing. With over 98% of demand from international markets, the company operates under a B2B model, reporting consistent profitability and significant revenue growth despite previous net losses.
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