In a seed round of funding led by India Quotient and other angel investors, Delhi-based food ordering startup Ketchupp raised Rs. 3 crore.
The platform gives users a chance to find food based on their dish preference instead of just looking up the full restaurant on the website. Unlike Zomato or Swiggy, Ketchupp allows you to search for a specific dish in your city and find the best places to order it from. Chirag Taneja, co-founder of Ketchupp, explained what the brand does and said, “When a customer picks the dish, the platform also compares prices across platforms and offers choice on where one can order at the best prices. We are not a food ordering platform, we redirect traffic to the restaurants or food delivery platforms.”
Once you’ve located your dish, the platform directs you to the restaurant or the food delivery platform from where you can order said dish instead of spending hours going through the menu to decide what you should order.
With this round of funding, Ketchupp is looking to develop its technology to hone the platform from just a search engine to a suggestion based model. Taneja added, “We will invest in big data, recruit talent in that vertical and expand the team.”
This is great news for a food tech startup in a time when food delivery startups aren’t doing as well as they’d like. Investors are finding problems with lots of companies due to complaints from customers and partners, which is slowing down the investment side of things.
Speaking about this investment, Anand Lunia, cofounder at India Quotient, spoke to Economic Times and said, “Meta search engines only work when the underlying market is deep enough. We believe the time for that has now come for food. The revenue model is more advertisement and lead driven. Hence, the company will be light in operations and will have business economics of a high tech media company.”