ThinkStock PhotosOnline meat, chicken and ready-to-eat foods delivery startup Meatigo plans to raise external funding in the new fiscal, following a surge in business as consumers switched from non-branded to branded foods and stayed indoors which resulted in increased in-home cooking.
The four-year-old bootstrapped startup has grown through internal accruals so far.
Meatigo founder Siddhant Wangdi said the company plans to scale its business across its meats, ready-to-eat food and do-it-yourself (DIY) meals. “We have seen exponential growth over the last three quarters both in terms of number of orders and higher ticket sizes; but there is a lot of headroom to grow,” he said.
Wangdi said apart from adding to its portfolio of ready-to-eat and ready-to-cook foods, Meatigo is also expanding operations in new markets such as Chennai, up from the seven markets it delivers in presently.
The country’s meat delivery market is estimated to increase to $60-70 billion by 2022-23, with organised meat delivery platforms including Meatigo, FreshtoHome, ZappFresh and Licious rapidly expanding business. However, over three-fourths of this market remains unorganised.
In-home consumption of ready-to-eat and ready-to-cook foods grew exponentially in the peak pandemic months. While growth has normalised since the reopening of malls and restaurants, industry executives said the shift in consumption towards in-cooking will sustain.
The four-year-old bootstrapped startup has grown through internal accruals so far.
Meatigo founder Siddhant Wangdi said the company plans to scale its business across its meats, ready-to-eat food and do-it-yourself (DIY) meals. “We have seen exponential growth over the last three quarters both in terms of number of orders and higher ticket sizes; but there is a lot of headroom to grow,” he said.
Wangdi said apart from adding to its portfolio of ready-to-eat and ready-to-cook foods, Meatigo is also expanding operations in new markets such as Chennai, up from the seven markets it delivers in presently.
The country’s meat delivery market is estimated to increase to $60-70 billion by 2022-23, with organised meat delivery platforms including Meatigo, FreshtoHome, ZappFresh and Licious rapidly expanding business. However, over three-fourths of this market remains unorganised.
In-home consumption of ready-to-eat and ready-to-cook foods grew exponentially in the peak pandemic months. While growth has normalised since the reopening of malls and restaurants, industry executives said the shift in consumption towards in-cooking will sustain.
( Originally published on Feb 04, 2021 )