NuTy makes ready-to-eat curries and meals with a shelf-life of up to 60 days.
The ready-to-eat meals company NuTy is looking to increase its market share in the $95 billion Indian foodservice market.
"We are looking at a revenue target of 1 percent market share of $95 bln by 2024," Naveen Chander, co-founder, NuTy, told Moneycontrol.
According to Chander, the Indian foodservice market is slated to reach $95 billion-mark by 2024.
Chander, alongwith Ray Nathan, started NuTy in September 2019. NuTy makes ready-to-eat curries and meals with a shelf-life of up to 60 days.
NuTy Ready-Meals are available as take-away at local retail stores and on food-delivery platforms like Swiggy and Zomato.
It currently serves more than 100 traditional, authentic, regional Indian meals and curries.
The company is planning to add more dishes to the menu, however, they are yet to decide the right time, Chander said.
Expansion
NuTy began its food journey with a presence in more than 200 plus outlets across Mumbai, Bangalore, and Chennai.
The company is planning to expand its presence in Tier-3 cities.
“We are planning to expand in Tier 3 city clusters having a population between 500,000 -1 million in the following year,” Chander said.
“This will further move on to the cities with 1 million population that will be targeted in the next 2 years. And by the end of 2023, we will aim to be available in 500 plus cities across the country and try and reach every household,” he added.
HPP Technology
Chander said, the company recently started using HPP technology for preserving meals and curries.
HPP is a modern food preservation technology that helps to maintain the freshness and nutrition of the food.
According to Chander, the increasing awareness of nutrition and health has made it popular to use such an innovative technology that helps the food to remain fresh.
Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
