Meatigo set to raise external funding

Online meat, chicken and ready-to-eat meals supply startup Meatigo plans to raise external funding within the new fiscal, following a surge in enterprise as customers switched from non-branded to branded meals and stayed indoors which resulted in elevated in-home cooking.

The four-year-old bootstrapped startup has grown by way of inner accruals to this point.

Meatigo founder Siddhant Wangdi mentioned the corporate plans to scale its enterprise throughout its meats, ready-to-eat meals 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 mentioned.

Wangdi mentioned aside from including to its portfolio of ready-to-eat and ready-to-cook meals, Meatigo can be increasing operations in new markets akin to Chennai, up from the seven markets it delivers in presently.

The nation’s meat delivery market is estimated to improve to $60-70 billion by 2022-23, with organised meat supply platforms together with Meatigo, FreshtoHome, ZappFresh and Licious quickly increasing enterprise. However, over three-fourths of this market stays unorganised.

In-home consumption of ready-to-eat and ready-to-cook meals grew exponentially within the peak pandemic months. While development has normalised because the reopening of malls and eating places, trade executives mentioned the shift in consumption in direction of in-cooking will maintain.