Online meat store Zappfresh said it has raised Rs 20 crore from Dabur India Vice Chairman Amit Burman and SIDBI Venture Capital.
The funding will be used in driving business strategy and expanding supply chain as well as geographical reach, Zappfresh said in a statement.
The startup claims of breaking even in the first eight months after raising angel funding from individual investors, since its inception in 2015.
“The company would use the funds to hire people in key departments and increase storage capacity,” Deepanshu Manchanda, CEO and Co-founder, Zappfresh said.
He further said the investment will aid the back-end support along with expansion in newer markets.
“The business model is innovative and the use of technology in the supply chain management has allowed for the possibility of a sustainable scale up capability,” Burman said.
Zappfresh, run by Gurugram-based DSM Fresh Foods Pvt Ltd, procures meat from the farms and serves to the end customer in the chosen time slot the same day once the order is placed on its portal.
