Eatfresh Raises Rs.25 Crores In Funding For Further Expansion in Bengaluru
Ubiquitous Foods has raised an undisclosed amount of funding from Kalaari Capital bringing the total funding to Rs. 25 crores. Ubiquitous Foods will invest the funding in expansion of its Eatfresh brand which serves over 10,000 customers in around 15 areas in Bengaluru. Eatfresh is an online platform which offers customers freshly prepared meals by 5-star chefs with a choice of Indian, Mediterranean, European and Oriental cuisines.
Eatfresh was launched in August 2015 and has stiff competition from other food tech platforms already present in the market, like Faasos and Yumist. Although Eatfresh offers similar service to those platforms, it differentiates itself by the presence of its infrastructure and technology. Eatfresh has plans of expanding its services in Bengaluru in the next 3-4 months with further launch of the service in Chennai, Hyderabad and Pune. Speaking to Economic Times, Rajiv Subramanian, founder of Eatfresh, said, “We plan to have 50 distributions hubs between Bengaluru and Chennai.” Eatfresh currently operates through its website with plans of launching the Eatfresh app in January.
Although many food-tech platforms are facing some difficulties to manage revenue, a full-stack model such as Eatfresh is widely believed to be the next step for the food delivery services. Rajesh Raju, CEO of Kalaari Capital said, “Food-tech will emerge as a large category, however, we believe a full-stack model with full control from order-taking to food preparation to door-step delivery is imperative to building customer trust and a great brand.”
Eatfresh’s model includes preparing the food in an commissary kitchen and sending it to its hub for packaging and delivery by its own fleet of 80 delivery boys. Eatfresh currently offers 15 items on its menu ranging from Rs. 130 to Rs 220.