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Britannia Industries is one of India’s leading food companies, with a 100-year legacy and annual revenues in excess of INR 16,000 crore. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusks, and Dairy products, including Cheese, Beverages, Milk, and Yoghurt.
Britannia is a brand that many generations of Indians have grown up with and is cherished and loved in India and the world over. Brand Britannia is listed amongst the most trusted, valuable, and popular brands in various surveys conducted by prestigious organizations.
Know the Success Story of Britannia in the article ahead. Also, get a glance at Britannia’s company profile and know about the history of Britannia company, owner of Britannia company, Britannia’s Business Model, Founders, Revenue Model & more…
Britannia Industries Limited is a food company, that is engaged in the manufacture of Biscuits, Bread, Cakes, Rusks, and Dairy products, including Cheese, Beverages, Milk, and Yoghurt. The Company operates through the Foods segment, which comprises bakery and dairy products.
The Company’s product brands under the biscuits category include Good Day, Crackers, NutriChoice, Marie Gold, Tiger, Milk Bikis, Jim Jam + Treat, Bourbon, Little Hearts, Pure Magic, and Nice Time. Its products under bread include Whole Wheat Breads, White Sandwich Breads, and Bread Assortment. Its products under the dairy category include Cheese, Fresh Dairy, and Accompaniments. Its products under the cakes category include Bar Cakes, Veg Cakes, Chunk Cake, Nut & Raisin Romance, and Mufills. Its product under the rusk category includes Premium Bake.
The products of the Company are exported across the world, which include Gulf Cooperation Council Countries (GCC), African Countries, and American Countries. Its subsidiaries include Manna Foods Private Limited and International Bakery Products Limited.
Britannia – Logo and its Meaning
Britannia Logo
As explained by a spokesperson of Britannia, Britannia’s new logo signifies “rebranding as the Total Foods Company from now on with the expansion of its offerings in both healthy and indulgent products. The wings of a bird signify freedom to choose, whenever and wherever you want to enjoy your food.”
Britannia – Founder and History
Britannia Industry was founded in 1892 by a group of British businessmen with an investment of ₹295. Initially, biscuits were manufactured in a small house in central Kolkata.
1918 – The Company was born on 21st March of the year 1918 as a public limited company.
1921 – Britannia became the first company east of the Suez Canal to use imported gas ovens. Britannia’s business was flourishing. But more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of ‘service biscuits’ to the armed forces.
1924 – A new factory was established in the year 1924 in Mumbai. In the same year, the Company became a subsidiary of Peek Frean & Company Limited UK, a leading biscuit manufacturing company and further strengthened its position by expanding the factories at Calcutta and Mumbai.
1952 – The Kolkata factory was shifted from Dum Dum to spacious grounds at Taratola Road in the suburbs of Kolkata. During the same year, automatic plants were installed in Calcutta.
1954 – The automatic plants were installed in the Mumbai plant. Also in the same year, the development of high-quality sliced and wrapped bread in India was initiated by the company and was first manufactured in Delhi.
1965 – A new bread bakery was set up in Delhi in the year 1965.
1975 – Britannia Biscuit Company takes over biscuit distribution from Parry’s during the year 1975.
1976 – The company introduced Britannia bread in Calcutta and Chennai.
1978 – The company made a Public issue in that Indian shareholding crossed 60%.
1979 – The Company redefined itself from Britannia Biscuit Company Limited to Britannia Industries Limited.
Fast forward to the Current Status of 2025 – Britannia is one of India’s oldest existing companies. It is now part of the Wadia Group headed by Nusli Wadia and is the owner of Britannia. The company’s revenue stood at INR 16,769.3crores INR in 2024. Varun Berry is the Executive Vice-chairman and Managing Director of Britannia Industries.
Ranjeet Kohli was the CEO of the company since 2022, and he resigned in March 2025.
Britannia – Mission
The mission statement of Britannia says, “To improve the financial health of our members and customers by satisfying their evolving borrowing, investment and housing needs.”
Bakery Products: Biscuits account for 95% of Britannia’s annual revenue. The company’s factories have an annual capacity of 433,000 tonnes. The brand names of Britannia’s biscuits include VitaMarieGold, Tiger Biscuits, Nutrichoice, Good day, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts, amongst others.
In 2006, Tiger, the mass market brand, realized $150.75 million in sales, including exports to the U.S. and Australia. This amounts to 20% of Britannia’s revenues for that year.
Dairy Products: Dairy products contribute close to 5% to Britannia’s revenue. The company not only markets dairy products to the public but also trades dairy commodities business-to-business. Its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02.
Britannia – Business Model
The company operates in two business segments, namely, bakery products and dairy products. The company derives ~95% of its revenue from the biscuits segment while ~5% of its total sales coming from the non-biscuits category (dairy) and the International market.
The company’s Dairy business contributes close to 5 per cent of revenue, and Britannia dairy products directly reach 100,000 outlets. Britannia Bread is the largest brand in the organized bread market, with an annual turnover of over 1 lac tons in volume and Rs.450 crores in value. The business operates with 13 factories and 4 franchisees, selling close to 1 million loaves daily across more than 100 cities and towns in India.
Between 1998 and 2001, the company’s sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. Presently, the company has been growing at 27% a year, compared to the industry’s growth rate of 20%. At present, 90% of Britannia’s annual revenue of Rs 22 billion comes from biscuits.
Britannia is one of India’s 100 Most Trusted brands listed in The Brand Trust Report. Britannia has an estimated market share of 38%.
Britannia – Financials
Britannia Industries has shown steady revenue growth over the years while managing its expenses efficiently. However, its net profit in FY24 declined by 7.8% compared to FY23.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 16,983.5 Crore
INR 16,516.4 Crore
INR 14,359.1 Crore
INR 13,449 Crore
INR 11,879 Crore
Expenses
INR 14,063.9 Crore
INR 13,864.6 Crore
INR 12,279.6 Crore
INR 10,935.6 Crore
INR 10,018.1 Crore
Net Profit/Loss
INR 2,134.2 Crore
INR 2,316.3 Crore
INR 1,516 Crore
INR 1,850.6 Crore
INR 1,393.6 Crore
Britannia Financials FY24
Revenue grew by 2.8% in FY24 over FY23, but net profit declined by 7.8% due to rising expenses.
Britannia Industries Revenue
Britannia has maintained steady revenue growth, supported by strong demand and expansion efforts.
Particulars
FY24
FY23
Revenue from Operations
INR 16,769.3 Crore
INR 16,300.5 Crore
Other Income
INR 214.2 Crore
INR 215.9 Crore
Total Revenue
INR 16,983.5 Crore
INR 16,516.4 Crore
Britannia Industries Profit/Loss
Despite revenue growth, profitability declined due to higher operational costs.
Particulars
FY24
FY23
Gross Profit
INR 2,919.6 Crore
INR 2,651.8 Crore
Operating Profit
INR 2,657.2 Crore
INR 2,079.3 Crore
Net Profit/Loss
INR 2,134.2 Crore
INR 2,316.3 Crore
Net profit declined by 7.8% in FY24, despite an increase in gross profit.
Britannia Industries Expenses
Expense management remains crucial for profitability, with higher costs affecting margins.
Particulars
FY24
FY23
Cost of Materials Consumed
INR 8,546.9 Crore
INR 8,326.7 Crore
Employee Benefits Expense
INR 708.7 Crore
INR 658.4 Crore
Finance Costs
INR 164.0 Crore
INR 169.1 Crore
Depreciation & Amortization
INR 300.5 Crore
INR 225.9 Crore
Other Expenses
INR 3,398.7 Crore
INR 3,220.0 Crore
Total Expenses
INR 14,063.9 Crore
INR 13,864.6 Crore
Total expenses increased by 1.4% in FY24, mainly due to higher raw material and employee costs.
Quick Summary:
Revenue Growth:2.8% increase in FY24, supported by strong sales demand.
Profitability Decline:Net profit fell by 7.8%, despite revenue growth.
Expenses Rise:1.4% increase in expenses, mainly due to higher material and employee costs.
Britannia – Acquisitions
Britannia Industries, India’s largest processed food company, has announced that it has entered into an agreement with Fonterra Brands (Mauritius Holding) Ltd, Mauritius, for acquiring the latter’s 49 per cent Equity and Preference shareholding in Britannia New Zealand Foods Pvt Ltd (BNZF), their Joint Venture Company engaged in Dairy business. This acquisition is subject to Reserve Bank of India approval.
The company and its associates acquired majority stakes in Dubai-based Strategic Foods International LLC and Oman-based Al Sallan Food Industries in March 2007.
Britannia – Competitors
The top 10 competitors in Britannia Industry Limited’s competitive set are:
A businessman from Kerala, Rajan Pillai, secured control of the group in the late 1980s, becoming known in India as the ‘Biscuit Raja’. In 1993, the Wadia Group acquired a stake in Associated Biscuits International (ABIL) and became an equal partner with Groupe Danone in Britannia Industries Limited. It was referred to as India’s most dramatic corporate sagas. Pillai ceded control to Wadia and Danone after a bitter boardroom struggle, then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.
Biscuit major Britannia Industries, the star amongst the Indian FMCG pack of late, says generating consumer demand remains the biggest challenge in the new year. FMCG companies in general, reported lacklustre results in recent quarters. But the biscuit maker’s numbers beat expectations, with the Bengaluru-based company’s profit margins at a record high in the last two quarters.
In a separate dispute from the shareholder matters, the company alleged in 2006 that Danone had violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries (in Indonesia in 1998 and later in Malaysia, Singapore, Pakistan, and Egypt) without its consent. Whilst it was initially reported in December 2006 that agreement had been reached, it was reported in September 2007 that a solution remained elusive. In the meantime, since Danone’s biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia was renamed Kraft Tiger Biscuits in September 2008.
Britannia Industries is focusing on a region-specific strategy to compete with local players.
“We are ready to adapt our brand, flavors, pricing, and recipes to meet regional demands, which has been a strong advantage for us,” said Varun Berry, vice-chairman and managing director, during an investor call.
Addressing distribution challenges, Berry noted that Britannia lags behind competitors in the rural Hindi belt. The company remains committed to deepening its presence in urban markets while expanding its reach in rural areas.
FAQs
Is Britannia a FMCG company?
Yes, Britannia is a FMCG company and one of the favourite and oldest brands in India.
How many products are in Britannia?
Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt. Its brand portfolio includes Tiger, Marie Gold, Good Day, 50:50, Treat, NutriChoice and Milk Bikis. BIL has a presence in more than 60 countries across the globe.
Britannia company is from which country?
Britannia is an Indian Company with headquarters in Kolkata.
How does Britannia make money?
Britannia company operates in two business segments to make money, namely, bakery products and dairy products.
When was Britannia founded?
Britannia was launched on 16 April 1953.
Who is Britannia founder?
A British businessman C.H. Holmes founded Britannia Biscuit Company in 1918.
Who is Britannia owner?
Wadia group is Britannia company owner.
What is Britannia logo meaning?
The Britannia logo symbolizes British strength and maritime heritage, featuring a helmeted female warrior with a trident and shield. This iconic representation traces its roots back to Roman depictions of Great Britain, reflecting the nation’s rich history and identity.
Sustaining a startup is perhaps the most difficult phase for any entrepreneur. While everyone advocates entrepreneurship as a shortcut to mint money and get rich scheme, the uncertainty and constant pressure to perform is a huge responsibility even for the toughest of individuals. The team at StartupTalky decided to analyze some unsuccessful startups in India.
As of April 2024, India is home to over 1.28 lakh startups, a significant increase from just 450 in 2016, making it the third-largest startup ecosystem in the world.
The startup failure case study discussed below covers unsuccessful entrepreneurs’ stories in India and will give you insights into the failure of some Indian startups that were destined to reach new heights.Learn from the mistakes these Indian ventures made so that you don’t end up repeating the same.
Summery on why Startups fail and how to bounce back from Startup failure
Serving home-cooked food is becoming a trend among today’s startups. Yumist was one such venture. It was launched in 2014 to cover the daily meals segment in India, a largely untapped market. The founders were Alok Jain and Abhimanyu Maheshwari who managed to raise nearly $3 million in funding. It is one of the top 10 failed startups in India.
Reason for failure:A business model with a high burn rate that required extensive capital beyond Yumist’s reach for achieving growth. Enough funding was also not available to run the startup. So the startup had to shut down. The Yumist case study is often mentioned when one talks about famously failed startups in India.
Let’s be honest, a chance to talk with your favorite celebrity is on everyone’s bucket list. Banking on this wish, Dial-A-Celeb was a short-lived yet exciting concept founded in 2016 by Gaurav Chopra and Ranjan Agarwal and they could be considered as unsuccessful entrepreneurs in India. In addition to video chats with actors and celebs, the platform also allowed customers to get autographed items such as toys and diaries. However, the startup closed its doors within a year.
Reason for failure: The major reason for Dial-A-Celeb’s failure was that celebrities were coming up with their apps to interact with fans. This trend resulted in immense competition for Dial-A-Celeb and a direct impact on profitability. Dial-A-Celeb was shut down in 2017. Know your rivals well and also brace yourself for competition that may arise in the future.
Once on the path to becoming the largest homestay network in India, Stayzilla is reminiscent of a riches-to-rags story. With around $33.5 million in funding and establishing itself in the hotel-rental segment, this brainchild of Yogendra Vasupal, Rupal Yogendra, and Sachit Singhi started crumbling after it failed to repay vendors. The troubles were then aggregated and in February 2017, Yogendra Vasupal officially announced the closure of Stayzilla’s operations.
Reason for failure: Stayzilla was way ahead of its time when launched. People were not ready for such Hi-Fi technology. However, the company somehow managed some time on the funding it received. But when people started becoming familiar with online booking, new competitors emerged with better discounts and deals. Stayzilla was unable to provide the same due to the unavailability of funds. Additionally, legal disputes and a lack of focus on growing the business destroyed Stayzilla.
Roder
Industry
Cab Service
Founder(s)
Abhishek Negi, Ashish Rajput, and Siddhant Matre
Founded
2014
Dissolved
2017
Roder – Failed Startups in India
Inter-city travel has become a mainstream requirement— traveling 100 km or more every day is deemed as just another day to some. The reason may be anything: office location, excursion, meeting a friend, etc. These journeys can burn a hole in the pocket.Roder (earlier known as Insta Cabs) was founded by Abhishek Negi, Ashish Rajput, and Siddhant Matre in 2014 to ease inter-city rides. One of Roder’s highlights was offering one-way rides at nearly half the market price. It is one of the famous startups that failed in India.
Reason for failure:The inability to cope with customer acquisition costs and not keeping up with the user retention rates. Moreover, increased competition from experienced ventures like Ola and Uber added to Roder’s woes. Having a bigger competitor that is more aggressively funded makes the entrepreneurs lose their zeal. And this is one of the major causes of entrepreneurial failure.
Turant Delivery
Industry
Logistics
Founder(s)
Ankur Majumder and Satish Gupta
Founded
2015
Dissolved
May 2017
Turant Delivery| Failed Startups in India
TheB2B startup was an intra-city logistics provider that was launched in 2015 to bring a new flavor to the Indian logistics industry. The algorithm followed by Turant Delivery permitted it to offer services at a price as much as 15% less than what fellow competitors charged for the same trip (as per the endeavor’s claim) and is one of the top 10 failed startups in India.
Reason for failure: The company did not have the funds to sustain itself in the long run.A logistics service provider needs intensive cash flow to run. Hence, funding is essential for any logistics startup.
Students are the new target audience when it comes to offering small loans. Acting on this, Finomena came out with an app that provided ‘EMI without cards’. The aim was to allow students to purchase mobile phones and other electronics on a loan. In March 2016, Finomena raised its seeding funding and then made quick strides before going down in 2018.
Reason for failure: Finomena is counted amongst those Indian startups that failed unexpectedly despite having enough funding. It was a fintech startup that focused on providing loans, a segment already dominated by established players before its entry. Fierce competition from rivals like ZestMoney was the major reason behind Finomena’s failure. Also, burning cash where it was not needed was another cause. Before you launch your startup, check if the target segment has reached its saturation levels. Also, use your funding wisely!
MrNeeds
Industry
Grocery Delivery
Founder(s)
Hitashi Garg, Ravi Verma, Ravi Wadhwa, and Yogesh Garg
Founded
2016
Dissolved
2018
MrNeeds | Failed Startups in India
MrNeeds was a grocery delivery startup founded by Hitashi Garg, Yogesh Garg, Ravi Wadhwa, and Ravi Verma. It provided a subscription-based grocery delivery service. People could easily pay for their subscriptions and receive their groceries on the set date. MrNeeds, a Delhi-based startup, did well with more than 10,000 deliveries in Noida alone.
Reason for failure:MrNeeds was a subscription-based Indian startup that failed. Hence, turnover might not have been that great given how frugal Indians usually’ tend to be. So it is possible that the startup had a lack of funding to sustain itself. The entry of funded grocery delivery startups like Grofers and Big Basket can also be another reason for MrNeeds’ failure. It is considered as one of the top 10 failed Indian startups.
CardBack
Industry
Fintech
Founder(s)
Nidhi Gurnani and Nikhil Wason
Founded
2013
Dissolved
2017
CardBack logo | Failed Startups in India
A fintech platform founded by Nidhi Gurnani and Nikhil Wason, CardBack lets credit and debit cardholders with multiple cards know which card provider would offer the best rewards and points on transactions. The venture was funded by famous angel investors such as Alok Mittal and Sunil Kalra and managed to raise $170k in five years. It is one of the unsuccessful startups in India.
Reason for failure: CardBack could not secure funds after 2014, and the number of multiple cardholders in India was less than what the fintech startup had expected. Hence, the main reason for CardBack’s failure was its over-expectation of market growth. The plan to shift the headquarters to Singapore, where the multiple credit card culture abounds, also failed. The failure to move to Singapore was the final nail in the coffin for CardBack.
Overcart
Industry
Re-Commerce
Founder(s)
Saptarshi Nath and Alexander Souter
Founded
2012
Dissolved
2017
Overcart logo | Failed Startups in India
Overcart was the first Indian fintech player to provide a platform for purchasing refurbished, overstock, and pre-owned items. It was founded in 2012. People could buy and sell their electronic devices on the website. Overcart received substantial angel investment; however, the company failed to capitalize on it.
Reason for failure: Overcart did not seem to be very focused on its business. Unsatisfactory services such as late delivery, poor quality of purchased items, and bad customer service led to customer rebuke, thereby causing Overcart to shut down in 2017.
RoomsTonite
Industry
Hospitability
Founder(s)
Suresh John
Founded
2014
Dissolved
2017
RoomsTonite logo | Failed Startups in India
Last-minute hotel bookings usually end up in a mess and utter disappointment. RoomsTonite was launched to deal with this issue. It received around $1.5 million in funding and ceased functioning by September 2017. The startup rose and crumbled within three years! It is one of the unsuccessful startups in India.
Reason for failure: Having strong rivals in the form of MakeMyTrip and OYO was one reason for RoomsTonite’s failure. The credit crunch also added to RoomsTonite’s woes. Facing a sudden reduction in the loan’s availability is called a credit crunch. Roomstonite faced a credit crunch in 2016 which didn’t allow it to flourish. It is one of the famous startups that failed in India.
Founded in 2015, Doodhwala was a subscription-based platform that delivered milk and grocery items directly to the customer’s doorstep. Founded by Ebrahim Akbari and Aakash Agarwal, Doodhwala claimed to complete about 30,000 deliveries in a day. It is also considered one of the top failed startups in India.
Reason for failure: According to experts, lack of funds and tough competition from the big shots like BigBasket, Milkbasket, and SuprDaily caused Doodhwala to shut down.It is a prime example of startups that failed in India that failed due to strong competitors.
Russsh, one of the failure companies in India, was founded in 2012 by Bharat Ahirwar. Russsh offered both first-mile and last-mile on-demand delivery services to individuals and businesses. The company claimed to have a database of over 50,000 loyal clients and completed 500,000 transactions. However, on June 3rd, 2019, the company announced its closure and is considered a failed business in India.
Reason for failure:The major reason for Russsh’s failure was the lack of funds. It was a self-funded startup and in the absence of enough funds, Russsh was unable to resist the intense competition from its rivals. Bharat Ahirwar also admitted that being a single-founder venture and the absence of a strong team were equally responsible for Russsh’s shutdown.
Rakesh Yadav, Rahul Raj, and Aditya Naikfounded Koinex in August 2017, and in no time the company established itself as India’s largest cryptocurrency exchange. With a user base of over 1 million, Koinex claimed to have a trading volume of over $3 billion and the successful execution of 20 million+ orders.
Reason for failure: Koinex suspended its services on 27th June 2019. The cryptocurrency trading business has seen many ups and downs in India and this instability affected Koinex. The founders stated the lack of a clear regulatory framework for cryptocurrencies in India to be a major deterrent that prevented them from running Koinex’s operations smoothly. Koinex is one of the famous startups that failed in India.
DocTalk
Industry
Health-tech
Founder(s)
Goenka, Chamakura and Aluru
Founded
2016
Dissolved
2018
DocTalk | Failed Indian Startups
Founded in 2016, by Krishna Chaitanya Aluru, Akshat Goenka, and Vamsee Chamakura, Doctalk connected doctors with patients. Through the Doctalk app, one could find good doctors in the vicinity and after just one in-person visit, the patient could connect to the doctor through the Doctalk app for further consultation and queries.
The patients had to pay a subscription fee, whereas the doctors were charged an initiation fee. In 2018, Doctalk pivoted to a new business model wherein it built an electronic medical record (EMR) solution to help doctors write digital prescriptions on customized prescription templates. The EMR business was launched under a new brand name ‘Pulse’ and was sold to the doctors as a tool that let them digitalize the entire consultation, and share the same with the patients.
Reason for failure: Doctalk’s pivot from its initial business model into the electronic medical record solution (EMR) business was not successful; it is often cited as the cause of DocTalk’s closure by company insiders. It is considered as one of the biggest startup failures in India.
LoanMeet
Industry
Fintech
Founder(s)
Ritesh Singh and Sunil Kumar
Founded
2016
Dissolved
May 2019
LoanMeet | Failed Startups in India
P2P lending platform LoanMeet was started in 2015 by Ritesh Singh and Sunil Kumar to help small businesses grow through ultra-short-term loans (for 15, 20, or 30 days) for buying inventories. LoanMart’s services included B2B marketplace financing, working capital financing, cash credit line, and channel financing in the range of Rs 5,000 to 5 lakh for a period of 15 days to 9 months. The company claimed to have an average lending ticket size of Rs 50,000 at around an 18% interest rate.
Reason for failure: LoanMeet raised funding from Chinese investors Cao Yibin and Huang Wei in 2017 but failed to secure any funding after that. LoanMart’s shutdown is attributed to the lack of funds and tough competition from players like Capital Float, Loan Frame, and Happy Loan.
Houseparty
Industry
Social Media, Video Chat
Founders
Ben Rubin, Sima Sistani, Itai Danino, Scott Ahn
Founded
2016
Dissolve
2021
Houseparty | Failed Startups in India
Houseparty was a social media and video chat application that was founded in 2016 by Ben Rubin, Sima Sistani, Itai Danino, and Scott Ahn. The app gained popularity for its unique feature that allowed users to connect with friends in group video calls and play games together in real-time.
Reasons for failure: Houseparty’s closure was influenced by multiple factors, including the decline of the pandemic, insufficient funding, and Epic Games’ prioritization of other areas, and is considered one of the biggest startup failures in India.
Dark Sky
Industry
Weather and Forecasting
Founder
Adam Grossman, Jack Turner
Founded
2011
Dissolve
June 2021
Dark Sky | Failed Startups in India
Dark Sky was a weather forecasting app that provided hyperlocal weather information and accurate forecasts to users. It was founded in 2011 by Adam Grossman and Jack Turner. Dark Sky gained popularity for its user-friendly interface and precise weather predictions, which were based on real-time data and advanced algorithms.
Reasons for failure: Sky announced that it had been acquired by Apple and would be discontinued on other platforms, including Android. The acquisition by Apple led to the dissolution of Dark Sky as an independent entity, and its features were integrated into Apple’s own weather services.
ShopX
Industry
E-commerce
Founder
Amit Sharma, Apoorva Jois
Founded
2015
Dissolve
2022
ShopX | Failure Company in India
Amit Sharma and Apoorva Jois founded the startup, which had secured a total funding of $56.4 Mn from multiple rounds since its inception. The startup had received backing from prominent investors, including Infosys co-founder Nandan Nilekani and Fung Investments.
Reasons for failure: The B2B e-commerce startup operated by 10i Commerce Services had to close its operations and file for bankruptcy. In a filing with the Registrar of Companies (RoC), the startup informed its board that it faced challenges in generating sufficient cash flow or raising new capital through the sale of stakes. It is considered one of the top 10 companies that failed in India.
Lido Learning
Industry
Education Technology (EdTech)
Founder
Sahil Seth
Founded
2019
Dissolved
Feb 2022
Lido | Failed Startups in India
Lido Learning was a Mumbai-based Indian educational technology (EdTech) startup that focuses on providing online education. February 2022, Lido Learning made headlines as the first tech startup to lay off more than 150 employees, using the term “pink-slipped,” which raised concerns about the company’s employment practices.
Reasons for failure: Lido Learning faced a concerning situation when payments to their teachers and employees were not being adequately taken care of.
Amazon Food, Distribution
Industry
Food
Founder
Jeff Bezos
Founded
May 2020
Dissolve
Dec. 29, 2022
Amazon Food | Failed Startups in India
In May 2020, Amazon Food entered the competitive Indian food delivery market. However, after trying it out for more than two and half years, Amazon decided to shut down its food delivery platform, which was being piloted in Bengaluru, India, by 29 December 2022.
Reasons for failure: Amazon Food failed in India due to stiff competition from established players like Zomato and Swiggy, localization challenges in catering to diverse culinary preferences, operational complexities in building a reliable network of restaurants and delivery partners, and broader cost-cutting measures undertaken by Amazon in a challenging economic environment.
Koo was an Indian-language microblogging site designed for connecting, commenting, and engaging. The platform was available in multiple Indian languages and included features such as English-to-regional language keyboards, local language news feeds, and hyper-local hashtags. It allowed users to express themselves on various topics through text, audio, and video.
Reasons for failure: Koo shut down after failing to secure deals with several major internet companies, conglomerates, and media houses. Although Koo had successfully expanded to Brazil, gaining over 1 million downloads within 48 hours of its launch, it struggled to gain traction in the Indian market. It is considered as one of the famous failed companies in India.
Lack of understanding of the market and preparedness
Doodhwala
2015
2019
Aakash Agarwal and Ebrahim Akbari
Online Milk Delivery
Unfavorable circumstances and lack of Margin
Local Banya
2012
2016
Amit Naik, Karan Mehrotra & Rashi Choudhary
E-Commerce
Lack of operation capability and margin
Tiny Owl
2014
2016
Saurabh Goyal
Online Food Delivery Apps
Lack of experience of founders in handling business
Bite Club
2014
2016
Prateek Agarwal
Online Food Delivery App
Lack of capability to handle expansion and competition
Dazo
2014
2015
Monica Rastogi & Shashank Sekhar Singhal
Food Delivery
Lack of funds and management due to intense competition
Yumist
2014
2017
Alok Jain and Abhimanyu Maheshwari
Food Delivery
Lack of funds and high cost of operation
GrocShop
2015
2016
Rahul Kumar and Ayush Garg
Grocery Delivery
Lack of
Mr.Needs
2016
2018
Hitashi Garg, Ravi Verma, Ravi Wadhwa, and Yogesh Garg
Online Milk Delivery
Intense competition and low margin
Monkey Box
2015
2018
Sanjay Rao
Food Delivery
Lack of execution, and planning & model
iProf
2009
January 2014
Sanjay Purohit and Saurabh Jain
Ed-Tech
Intense competition and low margin
Purple Squirrel
2013
May 2016
Aditya Gandhi and Sahiba Dhandhania
Ed-Tech
Intense competition and poor product service
GoZoomo
2014
2016
Arnav Kumar and Himangshu Hazarika
Food Delivery
Intense competition and management
Zebpay
2014
September 2018
Sandeep Goenka, Saurabh Agarwal, and Mahin Gupta
Fintech and Finance
Legal Challenges and Issues
Koinex
2017
June 2019
Rahul Raj, Rakesh Yadav, and Aditya Naik
Fintech and Finance
Legal Challenges and Issues
Card Back
2013
2017
Nidhi Gurnani and Nikhil Wason
Fintech
Lack of funds and execution
DocTalk
2016
2018
Goenka, Chamakura and Aluru
Health Tech
Intense competition
BabyBerry
2012
2018
Bala Venkatachalam and Subhashini Subramaniam
Child Care
Flaws in the revenue model
Doormint
2014
2016
Abhinav Agarwal
E-Commerce
Lack of funds and flaws in the model, poor management
Task bob
2014
January 2017
Amit Chahalia
House Hold
Lack of funds and low-profit margin
GetNow
2014
2016
Jayesh Bagde
Local Electronics Shop Provider
Poor choice for business and low margin
Flashdoor
2015
–
–
House Hold Solution
RUSSSH
2012
June 2019
Bharat Ahirwar
Logistics
Lack of funds and intense competition
Jabong
2012
February 2020
Arun Chandra Mohan, Praveen Sinha, Lakshmi Potluri and Manu Kumar Jain
E-Commerce
Poor service and intense competition
Buttercups
2011
2019
Arpita Ganesh
E-Commerce
Poor execution
Wooplr
2013
May 2019
Zacharia, Praveen Rajaretnam, Soumen Sarkar and Ankit Sabharwal
Social Commerce Platform
Merger
Klozee
2015
2016
Aman Haji, Pratik Moona, and Prashant Jain
E-Commerce
Low sales and poor techniques
Just Buy Live
2015
2022
Rituraj Singh
E-Commerce
Lack of understanding of the market and preparedness
Shopo
2017
2017
Rithika Nelson and Theyagarajan S
E-Commerce
Lack of funds
Finomena
2015
August 2017
Abhishek Garg & Riddhi Mittal
Fintech
Lack of funds
Fashionara
2011
2016
Arun Sirdeshmukh and Darpan Munjal
E-commerce
Lack of funds, Intense competition
Shotang
2013
2021
Roy Singh and Vishal BG
E-commerce
Niche-specific failure and no funds
Hike Messenger
2012
January 2021
Kavin Bharti Mittal
Social Platform
Intense competition
COGXIO
2014
July 2016
Layak, Kinshuk Bairagi and Sarit Prajna Sahu
Dating Platform
Lack of revenue
Parcelled
2014
2016
Bhandari, Xitij Kothi, Abhishek Srivastava, Nikhil Bansal, and Rikin Kachhia
Courier Service
Intense competition and poor service
Ezytruck
2015
2018
Srikanth Maheswarappa, Anand Mutalik, and Narasimha Bs
Logistic
Intense competition
Truckmandi
2015
2016
Ankit Singh, Anurag Jain, and Nishant Singh
E-Commerce
Cash burn and lack of funds
Roder
2014
2017
Abhishek Negi, Ashish Rajput, and Siddhant Matre
Transportaion Service
Cash burn due to corruption involved in the field and also poor management
Tazzo Technologies
2015
January 2018
Priyam Saraswat, Priyank Suthar, Shivangi Srivastav, and Vikrant Gossain
Transportaion Service
Poor business model
AUTOnCab
2014
2016
Surendra Goel and Vinti Doshi
Transportaion Service
Poor business model
Hey Bob
2015
2016
Vishal Kumar, Vinay Reddy, Girish Nadig and Suman Kundu
Transportaion Service
Poor business model
Freshconnect
2018
2022
Amit Kashyap and Tarun Gupta
Agri Tech
Lack of awareness and low-profit margin
Dial-a-Celeb
2016
2017
Gaurav Chopra and Ranjan Agarwal
Media and Entertainment
Poor business model
App Surfer
2011
May 2022
Akshay Deo, Amit Yadav, Aniket Awati, and Ratnadeep Deshmane
Mobile Solution Provider
Intense competition
Intelligent Interfaces
2015
2016
Azeem Zainulbhai and Rahul Yadav
Software Solution
Legal Challenges and Issues
InoVvorX
2010
2020
Maxim Dsouza
IT
Poor business model and management
Stayzilla
2006
February 2017
Yogendra Vasupal
Tourism
Lack of funds
Rooms Tonite
2014
2017
Suresh John
Hospitability
Intense competition
Job Bridge
2017
–
–
Job consultancy
Lack of proper management
Turant Delivery
2015
May 2017
Ankur Majumder and Satish Gupta
Logistic Provider
Lack of funds
Overcart
2012
2017
Saptarshi Nath and Alexander Souter
Cryptocurrency Exchange
Lack of clear regulatory framework for cryptocurrencies in India
LoanMeet
2016
May 2019
Ritesh Singh and Sunil Kumar
Finance (Short-term)
Tough competition from other big players
Main Reasons Why Startups Fail in India
The above-mentioned examples shed light on major issues that are responsible for the failure of nearly 90% of the emerging startups in India:
Lack of funds: On close observation, it is evident that insufficient funding or the lack of it caused most of the startups to shut down.
Highly anticipated model, not in sync with the nature and lifestyle of the Indian population: Some of the startups listed above failed because their highly anticipated models were not appropriate for Indians. Startups should either wait for the right time or educate their future consumers about their technology in advance. Also, the company should pivot only after a thorough market study.
Poor customer service and sub-par quality of the products offered: Be it an online startup or a brick-and-mortar store, customer service is of utmost importance. Some startups compromise on customer service and the quality of their products; the compromise always results in the closure of business.
Lack of focus and legal disputes: It is imperative for any startup to focus on building a solid foundation and then growing it further. Entrepreneurs should also focus on the legalities which may cause disruptions in the future. What if you ignore these two factors? You cease to operate like Stayzilla.
Why Do Startups Fail?
How to Bounce back from your Startup’s Failure
Panic doesn’t help in failure; relaxation and progressive thinking will prove to be useful. Successful people have seen failures and have overcome all challenges.
Here are some tips to bounce back from your startup’s failure:
Share Your Feelings
Don’t think that life ends after a failure. Don’t spend time criticizing yourself or anyone else, but feel proud of the takeaways from that failure. Keep in touch with friends, family, and relatives to stay calm and relaxed in times of failure. Find a mentor or a group of experienced people. Learn from them. Seek guidance and mental support from mentors and entrepreneurs who have seen both success and failure.
Find Different Sources Of Income To Recover Your Loss
Failures will lead to financial difficulties. So work on expanding your income stream. Contact mentors and entrepreneurs for suggestions on income generation. Do not get depressed because money is meant to come and go. Calculate how long your savings will last and plan accordingly. It will be great if you already have a secondary source of income. If not, spend some time creating a source of income through freelancing or consulting.
Prepare And Plan With Consciousness
A lot of lessons are learned after hard times. Use these lessons to prepare and prioritize. Make a survival plan. Startup founders are very comfortable with planning and execution. Appoint suitable founders and workers to assist you. Hard work always pays off, so work until you achieve success. If your startup fails, create an Excel sheet, and write down the skills in one column and the potential income from those skills in the second column. By doing this simple exercise, one will get some clarity on how to keep the business running for a few more months.
Wait For The Right Time To Get The Right Opportunities
Don’t take any important decision at the time of failure because the mind is depressed at such a time. Wait and then plan for the future. Take whatever time is required to make up your mind but once the thought process is in place, do not go back to thinking about the failure. Great opportunities do not come frequently. So wait for the right moment. It is better to wait for several months for the right kind of work than to get stuck on the wrong assignment.
Actions Speak Louder Than Words
Be mindful of your actions after a bout of failure. The right attitude is important during stressful moments. Take the right action with the right attitude. Say no to poor opportunities. Work to the best of your abilities. Aim high and let your failures be the stepping stones to success.
Failure is not an end. It’s the first step to success. Whether you are running a startup or are planning to launch one, note down the mistakes discussed in this post. Nothing hurts more than committing a mistake you were already aware of. If this case study on the failure of some promising Indian startups was useful to you, let us know in the comments.
Recent studies as of August 2024, show that up to 90% of startups in India fail within their first few years, highlighting the crucial need for strategic planning, market research, and strong financial management for entrepreneurs.
What happens when startups fail?
The startup may gather outstanding accounts, take up loans to settle outstanding debts, sell resources for paying debts, and cater to the investors who funded the startup. Venture capitalists and other investors usually end up at a loss when a startup fails.
Why do 90% of startups fail or why do most Indian startups fail?
Here are some of the major reasons: 1. Lack of funds. 2. Highly anticipated model against the nature and lifestyle of the target audience. 3. Poor customer service and low-quality products. 4. Lack of focus and legal disputes.
Which are the failed startups in India 2024?
The startups that failed in 2024 are Resso, Rario, OKX, Muvin, GoldPe, and many more.
What is the hardest business to start?
Businesses that require huge funds to start off with are the hardest to start. Businesses pertaining to logistics, restaurants, and travel agencies are deemed some of the most difficult businesses to start.
What is the safest business to start?
Businesses that require low investment are the safest. Things that can be done entirely from the comfort of your home are the easiest. Some examples are logo designing, digital marketing, website building, online tutoring, virtual assistance, and so on.
Am I too old to start a business?
There is no age limit for starting a startup. You can be 50 and have a unique idea that might take off in the market.
There are hundreds of beverage brands offering a variety of drinks to consumers. But PepsiCo, Inc. and Coca-Cola Co. are leaders in the global beverage industry. They are the world’s largest beverage manufacturers. Their business models are similar in terms of flagship products and ideal consumers and industry.
The Coca-Cola company was founded in 1892 with its headquarters situated in Atlanta, USA. The PepsiCo Company was founded in 1898. At that time, its name was Pepsi-Cola. The company merged with Frito-Lay, Inc. in 1965. After that, its name changed to PepsiCo. The headquarters of the company is situated in New York, USA.
PepsiCo operates several brands including Tropicana, Frito-Lay, Gatorade, Quaker, etc. The world’s top soft drink brands, such as Coke Sprite, and Fanta are brands owned by Coca-Cola company. We can find so many key similarities and differences between these two business models. The comparisons between these two business models are given below. Also, we’ve listed the pricing strategies of Coca-Cola and PepsiCo and the Marketing Strategies of Coca-Cola and PepsiCo.
PepsiCo has a brand value of over $18.2 billion and has ranked 36th in the most valuable brands in the 2020 list prepared by Forbes. Sales of beverages and snack foods of the company are coming under one umbrella. It made PepsiCo a diversified and stronger business. It had 60% of its revenue from the food business and the remaining 40% from the beverage industry in 2022.
Products of PepsiCo
The company has 23 brands, including Pepsi, Fritos, Doritos, Pepsi Max, Diet Pepsi, etc. Each one makes more than $ 1 billion annually from sales. PepsiCo has a strong global presence in more than 200 countries around the world. It utilizes Direct Store Delivery (DSD) for its distribution network and supply chain. So the distributors deliver snacks and beverages directly to small stores.
The target audience of PepsiCo is the younger generation. They stand as a brand for the youth. To face the challenges and increase resource sustainability, the PepsiCo Company works with many community-based organizations.
In the case of Coca-Cola, it has strong a and unique brand identity. In 2011, it got the “highest brand equity award” from Interbrand. The company has a larger global presence. They are selling products in more than 200 countries. They also sell 1.9 billion bottles per day.
Customer loyalty is another strength of Coca-Cola. They are one of the most emotionally connected brands in the US. It is difficult to find substitutes for them. Coca-Cola has the 3rd rank in the Best Global Brand list annually prepared by Interbrand. According to the Forbes List of Most Valuable Brands, it ranked 6th with a brand value of $64.6 Billion in 2020. Also, it has more market share than PepsiCo in the beverage industry.
Products of Coca-Cola
Diet Coke, Sprite, Limca, Maaza, and Fanta are the top-growing brands of Coca-Cola. The distribution network of the company is more extensive and efficient in the world. They have almost 250 bottling partners. In 2016, Coca-Cola acquired the largest soy-based beverage brand in Latin America named “Ades” and expanded its beverage portfolio through this.
PepsiCo is over-dependent on soft drinks and packaged foods. It decreases the agility and flexibility of the company. Most soft drinks of PepsiCo have high sugar concentrations and its snackscontain chemical additives. It is not good for your health. Unsuccessful PepsiCo products, such as Pepsi Blue, Crystal Pepsi, etc. have made employees frustrated, and it allowed the growth of competition.
Companies must use their highest position to achieve the common good of society. But in 2017, PepsiCo’s advert featured by Kendall Jenner received criticism. That advert trivialized the Black Lives Matter movement.
Coca-Cola’s biggest competitor is Pepsi and it is preventing them from becoming a leader in the beverage market. In the case of Coca-Cola, the product diversification of the company is very low. They are lacking in the snack food category. At the same time, PepsiCo presented snack items like Kurkure and Lays. This puts Pepsi ahead of Coca-Cola.
Carbonated beverages are one of the main sources of sugar consumption. It causes health problems such as diabetes and obesity. Coca-Cola is the largest producer of carbonated beverages. Most health experts advise decreasing the use of soft drinks. The company hasn’t found any solution to this problem yet.
Coca-Cola vs. PepsiCo: Business Model
Both Coca-Cola and PepsiCo are towering brands well-renowned in the beverage industry for years and a significant part of their popularity surely comes from their robust business models. Though Coca-Cola and PepsiCo seem quite similar in their product lines and business models, there are slight differences that make each of them unique and speak for themselves.
Diversified Product Portfolio
PepsiCo and Coca-Cola are undoubtedly famous for their beverages under a range of brands but along with that they also bring out many different ancillary products.
When it comes to PepsiCo, it exhibits a truly diversified product portfolio and manages to put equal emphasis on each of its products. The consumer packaged goods industry is the other industry where PepsiCo has its footprints. The products of PepsiCo in the snack food category account for nearly 50% of the company’s total revenues. This diversified business model of the company has made it create and acquire several complementary products in both the food and beverage industries.
On the other hand, when it comes to Coca-Cola, the company purely relies on its beverages and beverage brands for the revenues it collects. The company possesses around 100-plus beverage products of its own.
Coca-Cola’s policy of dominion
Coca-Cola believes in a more focused form of business thereby dominating the beverage industry almost exclusively. Therefore, it minimizes the cross-promotion of multiple products across a wide range of industries.
Pepsi’s unique way of branding
PepsiCo has been successful in branding all of its beverage brands along with its consumer packaged goods interestingly. Unlike the Coca-Cola company, Pepsi manages to equally focus on each of its products with the help of its unique branding, which leads the customers to purchase a second product of Pepsi as soon as they buy the first one owned by the brand.
After a successful run of Coca-Cola and Pepsi in the beverage industry with their soft drinks/fizzy drinks, the growing concern of the masses for maintaining their health and fitness led them to opt for newer and healthier options. This resulted in the emergence of energy drinks.
Some new beverage companies hit the markets with their new products but the beverage giants didn’t take a step back and yield to it, but take their steps valiantly forward to make their mark even in this new segment. To diversify its offerings further, Coca-Cola bought a large stake in Monster Drink back in 2014 while Pepsi started producing its energy drink labeled as Mountain Dew Kickstart.
Coca-Cola’s pricing is based on the value that its products create for customers in different situations. The pricing strategy of Coca-Cola is what they refer to as “meet-the-competition pricing“: Coca-Cola product prices are set around the same level as their competitors because Coca-Cola has to be perceived as different but still affordable.
Pricing Strategy of PepsiCo
Pepsi is taking this value-based pricing strategy a bit further with its “Hybrid Everyday Value” model. This pricing strategy is an effort to make customers buy Pepsi not only when it is on sale. They have various sizes of bottles offered at various rates. This is priced according to the quantity of the drinks supplied. The promotion is also done keeping in mind the targeted customers.
PepsiCo’s Net Revenue Worldwide from 2012 to 2022
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Coca-Cola vs. PepsiCo: Marketing Strategies
Coca-Cola and PepsiCo, being two of the most loved beverage brands dominating the industry for decades surely sport foolproof marketing strategies. When it comes to big flashy advertisements and marketing campaigns, both of them play their parts incredibly well to drive their sales effortlessly.
Both of the brands keep on introducing popular flavors into their drinks. Furthermore, they are also claiming a good foothold even in the relatively new segment of diet drinks and energy drinks. Besides, it is important to note that as the millennials form the core of the customer base that the soft drinks and beverage industry boasts of, both Coke and Pepsi aim to target them first.
Memorable Campaigns of Coca-Cola
Coca-Cola has had its share of brilliantly made ad campaigns that not only went on to drive a considerable amount of sales but also have the brand etched in the minds of the customers. One such advertisement campaign is “Share a Coke with.” This campaign introduced the Coke bottles listed with people’s names on them. It went well with the customers, who not only wanted to see their name printed on Coca-Cola bottles on TV ad commercials but possess the actual bottle with them as a souvenir. The campaign resulted in around 7% growth in the consumption of Coke by young adults.
Coca-Cola Advertisement – Share a Coke with
Coke then launched the famous campaign “Taste the Feeling.” This initiative revolved around the good old feelings and emotions of the people associated with the legendary brand, Coca-Cola. The advertisement picturized groups of friends drooling over ice-cold bottles of Coke and having them together, toasting to their friendship and reliving the memories of their past, evoking a sense of friendship and togetherness.
The advertisement “Holidays are Coming” is yet another one of the famous Coke campaigns that went on to be a huge success. With the idea of holidays, most people associate the feelings of positivity, joy, homecoming, and summer or Christmas holidays. Therefore, this is another campaign that hits on the people’s emotions about Coca-Cola, as a drink, which is associated with fun, relaxation, vacation, and togetherness, and feelings of warmth, friendship, and brotherhood.
Coca-Cola Christmas Commercial
Coke has also scored big with its effective reactive marketing campaigns after the implementation of the sugar tax. This campaign had the advertisements of the company saying “They don’t make them like they used to – we do.” With this campaign, Coca-Cola tried to hint at the authenticity of the taste of Coke, which has not changed in the 132 years that the brand has seen, thereby encouraging people to taste the authentic flavor of Coke.
Pepsi’s advertising campaigns are a lot different than Coke’s. This brand likes to experiment with the latest developments and work with current celebrities. Pepsi’s advertisements are either purely witty or catapulted by its rivals, with a tint of humor.
Pepsi is also big in terms of the celebrity collaborations they make for their advertisements. Over the years the brand has been associated with a whole range of big names from the singing and acting industries. People like Britney Spears, Cindy Crawford, Cardi B, and more have already been roped in by the brand so far, which resulted in multiplying the overall sales of the brand.
A popular campaign brought out by Pepsi featured a young boy standing on 2 Coke cans to reach a can of Pepsi. These kinds of adverts have proven quite successful for the brand that believes in coloring their campaigns with a tinge of humor. However, on some occasions such humor also resulted in backfiring against the brand, even harming their reputation at times.
Pepsi Commercial
The Prominent Difference in the Marketing Campaigns of Pepsico and Coca-Cola
While Coca-Cola wants to empower friends, college-goers, students, and other professionals to come together and relive their days as young adults and toasting to their brotherhood, PepsiCo has marketed the products in such a way that the present generation can connect with them. PepsiCo on the other hand has been successful in creating advertising campaigns that bring in the newer elements of the age, a bit of wit, and ooze “coolness” or inject the perception of being “cool” and thus different and superior to other tastes.
No doubt both of them have been equally successful with the help of their innovative ideation and the implementation of unique marketing campaigns.
The organizational structure for Coca-Cola is designed in such a way as to suit the changing needs of the customers. It uses a decentralized system of management, which is divided into two operating groups; the Bottling Corporate and Bottling Investment.
What is the production cost of Coca-Cola?
It should be around 15–16 Rs, including the cost of sugar which is over 100 Mg in one liter of the bottle.
What is the pricing strategy of Coca-Cola in India?
The pricing strategy of Coca-Cola is what they refer to as “meet-the-competition pricing”: Coca-Cola product prices are set around the same level as their competitors because Coca-Cola has to be perceived as different but still affordable.
What is the difference between Coca-Cola and Pepsi’s marketing strategies?
A large part of Pepsi’s marketing budget goes to digital marketing and advertising. Apart from that, a large sum is also spent on television advertising and other traditional methods of advertising. Any leading brand is investing heavily in digital technology for marketing and a better customer experience.
Coca-Cola works on building Customer relationships and making their production and distribution more efficient and cost-effective.
What is Coca-Cola’s business strategy?
Coca-Cola is evolving its business strategy to become a total beverage company by giving people more of the drinks they want – including low and no-sugar options across a wide array of categories – in more packages sold in more locations.
Startups have now become a viable option in the world, people are willing to indulge themselves in this so that they can achieve their dream to be an entrepreneur. Starting something innovative takes a lot of courage, one can be on top of the world, and on the very next day, you might see them at the bottom. Everything depends on the execution of the plan and the customer.
With over 1.3 billion people living in this country, eradicating malnutrition and hunger is not an easy job and in the future, it is only going to be more challenging. As per reports, 71% of Indians consume meat and it is a primary source of protein. Climate change is one of the most problematic factors now, it is being an obstacle to produce meat in a sustainable way.
Thanks to innovative technology and creation, people are finding ways to put food on everybody’s plate without harming nature and its creatures and by tackling climate change. Plant-based food items are on rising to provide a sustainable food system to everyone and by being slaughter-free. Just like the rest of the world, India also took partake in this industry and decided to make slaughter-free food products for its citizens.
“What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed.” – Dave Thomas
What is Plant-Based Meat?
To be specific plant-based meat are nothing but food items that are made by plants and look, feel and taste like meat. Nowadays plant-based meats’ popularity has increased given the positive factor that they are environment friendly and healthy as well.
They have enough amounts of proteins; calories and fiber needed for a healthy human body and cut off fat content that is harmful to the body. Plant-based meats are mostly made of soy, mushroom, wheat gluten, and beans.
Some of the most popular plant-based meat startups that are able to entice people who prefer slaughter-free products are listed below.
This article will list down the popular startups that have decided to accept the process of making cruelty-free and slaughter-free food items that are plant-based.
This food tech startup was founded in 2016 with only one aim and that is to provide plant-based products that serve the taste of real meat to anyone and anywhere. It was founded by Abhishek Sinha, Deepak Parihar, Shruti Sonali, Stephanie Downs, and Taranum Bhatia and the headquarters is situated in Udaipur, India.
The products come at affordable prices and provide its customer with a healthier option for protein. The food items that are consumed are created by soya, pea, and wheat protein.
Some of the popular items are, ‘Veg Bytz’ that looked and taste like chicken strips. There we also have ready to cook ‘Vegicken’ and not to forget, chunks of mocked chicken ‘Proteiz’.
Evo Foods
Evo Website
This startup founded in the year 2019 by Shraddha Bhansali and Kartik Dixit is making headlines since the very first day. The main reason is being, although all the items are plant-based liquid eggs, they do taste, smell, and look like normal eggs that we consume. The liquid eggs are created by mung beans.
The startup is based in Mumbai, India, and claims that these vegan eggs make omelet fluffier than normal chicken eggs. Plus they are healthy to consume as they are cholesterol-free and fat-free. Omelets and scrambled eggs made by these vegan eggs taste really good.
This startup not only provides plant-based meat but also provides seafood as well. It was founded in the year 2018 by Rupinder Singh and Simarjeet Singh, its aim is to save the environment by providing meat and seafood in a cruelty-free manner to its customer and at an affordable price.
Apart from all these, the Faridabad, India-based startup sells ready-to-eat meals that contain no preservatives and are consumed by the customer. The shelf life of these products is more than a year and can be kept at room temperature without any problem. The main attraction is the plant-based seafood and meat products for the customers.
Greenest
Greenest Website
Like its name, it food item made up of green and healthy plants. It was founded in the year 2017 by Gaurav Sharma, Kannan Krishnamoorthy, and Dinesh Jain the main goal is to give nutritious tasty, and healthy food to the consumers in Asia without harming the environment.
Based in New Delhi, India the customer’s favorite food items are kebabs, meatballs, patties for burgers, and keema all of them are plant-based but taste exactly like real meat. Free from preservatives, this company takes care of its customer’s health as well as the planet.
Vezlay
Vezlay Website
This 2011 based startup founded by Amit Bajaj gives out vegan food items to its customers that are nutritious, delicious, and healthy for them. Based in New Delhi, India the food products looked and tasted like real meat but are actually made up of soy and wheat products.
Their famous food items are Seekh kebabs, Shami kebabs, Rogan josh and not to forget their Soya Vegget an exact replica in texture and taste of chicken nuggets. These ready-to-eat food products are cost-friendly for the customers and are environment friendly as well.
Wakao
Wakao is a plant-based meat startup promising to provide juicy and delicious food. The startup was founded by Sairaj Dhond in the year 2020. The company is situated in Goa, India. The company’s main aim is to serve food that is good for its customers as well as the environment.
The company also takes care of the food soldiers through their Friend’s of Farmers initiative. Whenever someone purchases their product, the company donates 1% of that sale to local farmers. The target audience of this brand is people with high incomes.
Imagine Meats
Imagine Meats is a plant-based meat startup founded by popular Bollywood couple Ritesh Deshmukh and Genelia D’Souza. The startup was founded in the year 2021, to provide delicious food according to Indian taste buds.
The brand is created to provide people with healthy, tasty and guilt-free plant-based meat products to the customers. The wide range of kebabs, nuggets, burgers and biryani main aim is to keep the planet safe without harming it by killing animals.
We live in a time where climate change has become one of the biggest challenges of our time. With an increasing population, it is not possible to provide food without increasing carbon footprints and harming the environment.
India is the second most populated country in the world; plant-based food items will not only contribute in saving the planet but will also help its consumers living a healthy life by having tasty and nutritious food.
FAQs
Is Plant-Based Meat Available in India?
Yes, plant-based meat is a fast-growing item in the food industry and is available in India.
How Big is the Plant-Based Meat Industry?
As of 2020, the market size of the plant-based meat industry was $5.6 billion. It is projected to reach USD 8.3 billion by 2025.
Is Plant-Based Meat Healthier than Regular Meat?
Plant-based meat is considered healthier as they are lower in saturated fat and calories.
What are the plant-based meat companies in India?
Some of the plant based meat companies in India are:
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Lo! Foods.
Taste and health never seem to go hand in hand. The Indian diet, especially snacks, is full of carbs and fat. Despite being conscious about the possible harm these snacks can cause to our health, it’s hard to resist that innate temptation to grab a bite of our favorite snack for something to munch on. So, what’s the other option?
Do you choose health over your favorite mathri or murukku? Or do you let go of your diet to feast on those tasty snacks? Nah, there’s no need to be selective. The option is to choose Lo! Foods.
Lo! Foods brings serves your favorite snacks in a healthy avatar so that there’s no longer the need to compromise between taste and health.
Lo! Foods is an FMCG startup founded in 2019, whose headquarters are situated in Bangalore. It manufactures a wide range of healthy Indian snacks. The company provides the widest range of low-carb and keto-friendly packaged foods in India. This includes namkeens, mixtures, biscuits, and desserts—many of these being the only of their kind i.e. a low carb/keto-friendly version in India. Lo! Foods also offer low-carb atta.
We have unique, technically superior formulations that have been developed after months of R&D. This makes our products the tastiest Low Carb Health products in the market. No other product comes close. Our range is also unique and Indian. Also, due to the nature of our formulations, we are also 35-40% cheaper than equivalent products in the market.
Lo! Foods – Industry Details
The healthy food and beverage sector in India is blooming and is poised to register significant growth in the years to come. In 2010, the health and wellness food market was worth INR 9,000 crore which reached to INR 10,352 crore in 2016; it continues to witness rapid growth.
Lo! Foods with its healthy range of food products want to make a positive difference in the lives of the Indian diabetic population. India currently has around 77 million diabetics, and the number is expected to cross 100 million in the next few years.
Lo! Foods – Founder
Sudarshan Gangrade
Sudarshan Gangrade, Founder of Lo! Foods | Lo! Foods Startup story
Sudarshan Gangrade is the founder of Lo! Foods. He was formerly the Head of Marketing at Ola. Sudarshan is a seasoned serial entrepreneur with vast experience in successfully running companies with expertise in growth, marketing, and analytics. An alumnus of IIT Kharagpur and IIM Bangalore, Sudarshan has been part of India’s e-commerce ecosystem right from its early days. An active sportsperson, he co-founded LeanScience—a boutique Diet and Fat Loss Consulting organization—in his most recent stint. A few years back, he quit his job and joined as a full-time volunteer in Nandan Nilekani’s team that was building the Aadhaar project. At Ola, Sudarshan helped build a viable transportation system for the Indian public.
Lo! Foods – Startup Story | How It Began?
Lo! Foods was conceived in response to the genuine concern Sudarshan had for people struggling to lose weight and be fit. Before starting Lo! Foods, Sudarshan had co-founded a boutique health and fat loss nutrition consulting firm called LeanScience. During that time, he got a chance to see up-close the struggles of people trying to lose weight and the problem of obesity in general.
Sudarshan observed that it was quite challenging for people to stop eating their favorite food and resort to bland and tasteless stuff in the name of fitness. Thus, the idea of providing consumers with a range of products that is healthy and yet tasty came to his mind and he was confident about the success of the same.
“Our thesis has been proved right. In the beta phase, we have seen our products flying off the digital shelves. Top Health platforms have joined hands with us to launch Lo! Foods. The response is really encouraging. Our repeat customer ratio already stands at 35% and we are yet to launch at a large scale” says Sudarshan.
Lo! Foods – Name And Logo
Lo! Foods’ logo | Lo! Foods Startup Story
The name Lo! is a play on the words Low Carb.
The “!” (exclamation mark) in the brand name was planned from the day the idea to start Lo! Foods was conceptualized. The ! was added to the name so as to give a pleasant surprise to consumers when they pronounced it.
Lo! Foods is indeed giving a pleasant surprise to consumers through its unique range of healthy Indian snacks!
Lo! Foods – Products
Lo! Foods offers a wide range of Indian snacks which not only taste good but are good for the health too. This food startup offers a healthy variety of namkeens, desserts, and bakery products.
We are already seeing customers across the spectrum actively cutting down carb consumption by reducing intake of ingredients like sugar, maida, rice and potatoes. We want to present them with a range of options where they don’t have to compromise on taste and their love for Indian snacks.
Lo! Foods – Revenue Model
Lo! Food’s products start at INR 35. The price differs depending on the product and quantity. The company makes a profit from the sales.
Lo! Foods – Funding And Investors
Lo! Foods raised seed funding worth $500k on August 22, 2019 from various angel investors. Some of the angel investors who took part in the funding round are Anuj Golecha (co-founder, Venture Catalyst), Raveen Sastry (co-founder, Myntra), Rashmi Daga (founder, Freshmenu), Sunil Chhabra (advisor and founding team member), Jumbotail, and Mitesh Shah (CFO, BookMyShow).
Before that, it had raised close to $300K in a Seed round led by Venture Catalysts on February 1, 2019. The last round that Lo! Foods saw, came from another Seed round dated April 16, 2021, with the help of which the company successfully raised $1 mn.
As said by Lo! Foods owner Sudarshan Gangrade, the funds raised will be used for expanding product portfolio and scaling up the brand’s distribution.
Lo! Foods – User Acquisition
Lo! Foods is not operating on a large scale yet. The company did a beta launch on its website and a very basic announcement on social media. Most of the customers the company has gained till now are purely through word of mouth publicity.
Lo! Foods is now live on Swiggy and other key e-commerce platforms. It has also tied up with the top health platforms in India to expand its customer base. In July 2019, Hyatt Place (Hyderabad) tied up with Lo! Foods to launch its low carb and keto friendly menu. This launch was executed on the Hyatt Place Hyderabad/Banjara Hills, a property of the renowned restaurant chain, Hyatt. The menu consists of Low Carb & Keto-friendly dishes, which include pastas, burgers, paninis, and desserts, which have been made with the help of Lo! Foods Atta. This specially curated menu is made available from July 10th, 2019 onwards and will include a range of all-day eating items like Paneer Kathi Roll, Grilled vegetable Panini, Carb friendly pasta, and desserts like Go Low Brownie.
Lo! Foods – Startup Challenges
Product development was the most challenging part of establishing the venture. The Lo! Foods team wanted to create healthy options while retaining the look and taste of traditional Indian snacks. It took almost 6 months of R&D and an intensive collaboration between a team of food technologists and nutritionists to come up with the right products.
Lo! Foods – Competitors
Though many companies are selling healthy snacks, Lo! Foods is differentiated from its competitors through its wide range of healthy Indian snacks. Britannia and Nilgiris are the director competitors of Lo!Foods.
There are many health-focused products available in the market. But we believe since none of the current options are catering to Indian taste palate, we are the only one in the space with one of its kind line of products – Sudarshan says emphasizing on Lo! Foods’ USP.
Lo! Foods – Growth
Within a short time, Lo! Foods have been able to attract a loyal fan base. It has various tie-ups in place and caters to more than 35% of repeat customers every month.
“We are ready for our next phase of growth. FMCG products are all about Product and Distribution. We have built a great product. We are in the phase where we now need to reach a large market, very quickly”
Lo! Foods – Future Plans
Lo! Foods’ mission is to reduce the incidence of diabetes and cardiac-related diseases in India by 5 million before 2023. The company plans to do this by reducing the overall consumption of carbs, an approach proven to help in weight loss and prevention of lifestyle-oriented diseases such as diabetes and high blood pressure.
FAQs
Who is the Founder of Lo! Foods?
Sudarshan Gangrade is the founder of Lo! Foods. It was founded in the year 2019.
What does Lo! Foods specialize in?
Lo! Foods sells snacks that are low in carbs and diabetes-friendly.
Is Lo! Foods an Indian Company?
Lo! Food is an Indian Company, founded in 2019.
Who is Sudarshan Gangrade?
Sudarshan Gangrade is the founder of the low carb and keto-friendly food products brand, Lo! Foods, which has been founded in 2019 and is headquartered in Bengaluru, Karnataka, India.
WOW! Momo is a quick-service restaurant that is growing rapidly in all parts of India. This is the first and only restaurant with the biggest momo supply chain. In over 250 cities, it offers its momos of various varieties and delicious sauces. Momo is a common dish in Nepal, certain areas of Tibet and India.
Sagar Daryani and Binod Homagai are the founders and owners of Wow! Momo established the brand in 2008. Both of them studied at St. Xavier College, Kolkata. Their success can be interpreted by the revenue they generated for INR 120 crores for the year 2019.
The business was initiated with starting investment of INR 30,000 and within a few years, its valuation raised to crores. Wow! Momo extended its franchise in Chennai, Cuttack, Cochin, Rourkela, Puri, Bhubaneswar, Kolkata, Delhi, Mumbai, Gurugram, Faridabad, Ghaziabad, Noida, and Bengaluru. In these cities, it currently has 254 outlets.
Sagar Jagdish Daryani and Binod Kumar Homagai from Kolkata started Wow! Momo. They drew their inspiration from their love of momo’s and dreamt of starting a Momo business.
Sagar’s parents initially invested INR 30,000 and with this money, the founders started their venture. They started it all in a 200 sq. ft. size kitchen with one table and two hired cooks on a part-time basis with a nominal pay. Raw materials were taken on credit from the local grocery shop and this has become their base of emerging business.
Binod Kumar Homgai During the Initial days of Wow! Momo
On July 15 Wow! Momo raised their first seed funding of $100 million led by the Indian Angel Network. In addition, in 2017 they raised $440 million led by Lighthouse Funds. The brand was climbing the stair of success ever since and hasn’t looked back.
Marketing Strategy of Wow! Momo
Initial Phase of branding Wow! Momo chose the colour yellow for kiosk promotions and to organize marketing campaigns.
Wow! Momo Kiosk
They used the idea of giving momo samples to their customers which clicked instantly and which helped their sales go up rapidly. Social media platforms like Instagram, Facebook, Twitter, etc. helped in advertising and promoting their brand further with their consumers
Their unique selling proposition is their pan-fried momo’s. Both veg and non-veg momos are available. A few of their most famous momo’s varieties include steamed momo’s, chicken momo’s, schezwan momo’s and prawn momo’s. They even have a range of momos for vegetarians that is corn and cheese momo’s, mushroom momo’s, etc.
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The target customer base of Wow Momo is students and working professionals. They cater to this particular customer base a lot as Momo is fast easy bite food and extremely affordable.
Expansion Plans of Wow! Momo
The brand also aims to initiate the opening of cloud kitchens to meet its customers online using food platforms like Zomato and Swiggy
By 2021, 350-400 outlets were planned and INR 300 crores turnover was also expected in terms of profits.
More complex and diverse Momo flavours are also added to the Wow Momo’s menu.
More inventions like “chilled momo’s,” gluten-free momo’s for supermarkets, etc. are available in their kits. In particular, in the Middle East, the brand also seeks global opportunities.
What Sets Wow! Momo Apart from others?
Wow! Momo competes with street momos vendors who sell momos at a lower price. The high quality, hygiene and different flavours of momos give a competitive advantage to Wow! Momo over the street vendor.
Momo represents a mix of consistency, flavour and diverse varieties in its exclusive product of diverse momo’s. Nowadays 12 different momo’s flavours are available in 3 types, e.g., steamed, fried and pan-fried momo’s. Flour variants are mostly mainly white and brown.
Wow! Momo Variety
They fry these momo’s to give them Indian tastes with various sweet or spicy sauces.
Furthermore, they have Momo chats, Tandoori momo’s, momo’s fried, Momo Burgers named MoBurg. The company also carries on its menu a special dessert called ‘Chocolate Momo.’
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Wow! Momos use platforms like Zomato, Swiggy and etc., to help their customers to give them helpful feedback and rate their food. This in turn helps customers also to check if the restaurant is good to eat or not. Reviews help to boost the business and interact with customers. It helps to rectify any issues the customers face with quality, service and etc.
Conclusion
Wow! Momo’s founders began with an idea and this idea spread throughout the country. Your commitment to work and your passion for your goal set an example for others. The two entrepreneurs of the brand did not think much about failures when they started their business.
As an entrepreneur of a startup, believing in the idea and its success is more important. The brand has proven to be able to put anyone on a path to success even with limited resources to start with.
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Their first outlet was a stall in the supermarket. The founders Sagar Daryani and Binod Homagai would approach every customer with momo samples asking them to try their momos.
What was the initial investment Wow! Momos?
The founders had borrowed INR 30,000 from their family initially to kickstart their business.
What is Wow! Momos unique selling proposition?
Their unique selling proposition is their pan-fried momos and they have different varieties of momos.
Who are the competitors of Wow! Momo?
One of the biggest competitors of Wow! Momo is Roll Mafia.
What was the origin of Wow! Momo?
The origin of Wow! Momo’s was in Kolkata. The founders started making momos in a small kitchen which was a garage with an investment of Rs 30,000.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Faasos.
Have you ever fancied yourself as a restaurant owner at some time in your life? Don’t you think how complicated would it be to start and run a restaurant chain? Right from the choice of cuisine to the business model, and the ultimate presentation, how difficult it can be to run your chain when already hundreds of well-established brands are there in the market. When the whole world out there is having a good time, have you ever thought about how struggling it can be to establish you and your brand? Well, the answer to all these and many other questions, Faasos emerged. Founded back in 2004, Faasos was incorporated in 2011, as an Indian “food on demand” service company by Jaydeep Barman and Kallol Banerjee.
Faasos is a brand owned by the online restaurant unicorn Rebel Foods. The company currently operates ghost kitchens distributed across 35+ Indian cities. If you are looking to discover more about Faasos Startup Story, Founders and Team, Funding and investors, Business and Revenue Model, Competitors, Revenue, and more, then check them all out here in this article:
So what is Faasos? The Faasos company is an Indian online food delivery company that was incorporated in the year 2011. Faasos launched its mobile app in 2014 and since then the company has been catering to the customers of India as food on-demand service.
Headquartered in Mumbai, Maharashtra Faasos currently operates 160+ kitchens that provide meals from 4 different brands. Faasos India is the only company that works on all the three stages of food on-demand business which are ordering, distribution, and order fulfillment in the sector of online food ordering business in India.
Faasos is an Indian Online Food Delivery Company and a nationwide chain of food outlets. Faasos origin started out by selling only Calcutta rolls in Pune, but now Faasos menu includes wraps, rolls, Frankies, and Indian food items, which are delightful alternatives to the McDonalds, Subways, and Dominos. Faasos website takes online orders, prepares food for its customers, and delivers the same at their doorstep. Besides, you can also search for the website or Faasos outlets in India by simply searching “Faasos near me”.
The Faasos apps’ wide range of food items includes classic wraps, party wraps, rice bowls, desserts, meals, snacks, etc. According to the Faasos reviews, it also accepts online party orders. Since its inception, Faasos aimed to create a kitchen from where the customers can order all their favorite dishes and get them delivered in no time. Besides, Faasos branches across the country are based on the Faasos cloud kitchen model, through which people can order food.
Faasos – Founders and Team
Jaydeep Barman (CEO) and Kallol Banerjee are the Faasos founders.
Jaydeep Barman and Kallol Banerjee – Faasos, Founders
Jaydeep Barman
Jaydeep Barman completed his MBA from INSEAD and is the current Faasos CEO. This Faasos founder worked for McKinsey & Company, London, where Jaydeep was an associate principal.
Kallol Banerjee
Kallol Banerjee has completed his MBA from the Indian Institute of Management, Lucknow, and has further studied at INSEAD after completing his graduation in Mechanical Engineering from Jadavpur University. Kallol has previously worked in Singapore at Bosche before they started their venture.
Soumyadeep Barman
Soumyadeep Barman is known as the Chief Product Officer and Co-founder of Faasos. Barman was earlier the Chief Technology Officer of the company since he joined and stepped down from the same in April 2020 when he started as a Chief Product Officer.
Faasos currently has somewhere between 500-1000 employees.
Rebel Foods is the Faasos owner and the Faasos parent company. Rebel Foods is an Indian online restaurant company that operates several cloud kitchen brands. It was founded by Faasos founders Jaydeep Barman and Kallol Banerjee in 2011.
Rebel Foods Brands
Faasos – Startup Story | How was Faasos Started?
In 2004, Faasos’s startup story began as a Calcutta Roll store chain in the city of Pune. To provide end-to-end delivery, fresh food, and doorstep delivery, it took around 7 years for Jaydeep and Kallol, which helped them establish Faasos India with full commitment. The Faasos history was started with an idea over rum and cola at an apartment that was shared by the two in Pune.
Jaydeep had no background experience in the food business sector and all his decisions were intuitive, which has served him well so far. He was just tired of the burger and pizza chains and wanted something Indian to pop up in the online sector and that’s how the Faasos story began. From 2011 to 2013, Faasos revenue grew and the founders opened over 70 Faasos franchises in the major cities of India.
The main aim/vision of Faasos is to become the best-in-class ‘Food on Demand’ business in the country. Faasos believes to stand as the best company to answer the customers’ queries of “what’s for dinner today?” and deliver them right at their doorsteps.
Faasos – Name, Tagline, and Logo
The Faasos name was taken from Burkina Faso, which is a French colony and it means ‘Land of Incorruptible People’. Although it does not symbolize anything nor is related to the food industry but the founders thought that it might be interesting to keep this name.
The Faasos tagline – We Got Your Food! Faasos logo is written in cursive font in blue. The Faasos company aims to become the leading ‘Food on Demand’ business in our country.
Faasos business model is developed around the idea of running ahyperlocal, cloud kitchen-based model, wherein the parent company Rebel Foods offers numerous in-house brands on its platforms like Oven Story, Kettle&Eggs, Behrouz, Firangi Bake. The Faasos cloud kitchen model was introduced after the other Faasos brands were added in the year 2015.
The Faasos food delivery process is designed in a way that turns out to be an easy and effective process for the customers to order Faasos food. In this way, the Rebel foods business model helps the company multi-task using the same kitchen, with common ingredients and the same staff to fulfill all their orders from varied brands. Today, Faasos operates more than 160 Faasos franchises that offer meals from four different brands.
Faasos has deeply followed the business model of Domino’s, which requires them to keep close to the neighborhoods of the customers, stay abreast of the customers’ orders and guarantee food delivery within 30 minutes.
Faasos earns from the commissions from the food order deliveries. Furthermore, it also earns from the delivery charges it levies on the food orders. The company further earns from the advertisements and features of food brands that it introduces on its app.
Faasos – Revenue
Faasos recorded a revenue of $75.24 million (Rs 572 crore) in FY20, thereby growing around 84% year-on-year (YoY) from ₹305.1 crores, which Faasos managed to pick up in FY19. The company’s revenues were recorded at only ₹147 crores in FY18, which has significantly grown.
The company’s net loss has also ballooned at INR 431 Cr from the past fiscal when it was only INR 131 Cr. Thus, Faasos’ losses increased by around 229%.
Faasos funding has raised over $111 million to date. Faasos’ first round of funding was held in January 2011 wherein the famous investor Sequoia Capital funded Faasos with $8 million.
The details of Faasos funding are as follows:
Date
Amount
Stage
Investors
January 2011
$8 Million
Series A
Sequoia Capital
2015
$16 Million
Series B
Sequoia Capital and Others
$30 Million
Series C
Sequoia Capital, RB Investments, Lightbox
INR 414 Million
Series C
Sequoia Capital, RB Investments, Lightbox
January 2019
$4.2 Million
Venture Debt
Alteria Capital
March 2019
$15.8 Million
Series D
Sequoia Capital India, Lightbox Ventures, Evolvence India Fund
February 2020
$4.9 Million
Series E1
Alteria Capital
July 2020
$26.5Million
Series E2
Coatue Management
Faasos – Startup Challenges
One of the most important aspects of any business is accounting and finance and that was an early challenge for Faasos to manage as it was using the legacy Point of Sales system for store sales and inventory management whereas, for the accounting and financing, Faasos was dependent on the ubiquitous Tally software.
Afterward, the company switched to Sage, which helped it overcome the problems of finance and accounting. According to the Faasos founders, one of the big earliest loopholes of the Faasos India business was tied to the location that they decided upon and the cost needed to repair the mistake. However, these challenges made them realize that they need to have multiple food brands rather than a brand extension.
Faasos is a chain that has direct competition with giant food aggregators like Zomato and Swiggy and the other Faasos competitors like FoodPanda and so on. In India, the food delivery market is valued at 15 billion dollars and is exponentially growing day by day. The online food delivery market has also become extensively competitive. Although Faasos app has a niche business model and works differently than the others, the company still faces stiff market competition. To compete in this competitive market and to be better than its competitors, Faasos focuses on the pricing and the range of food items that it offers to its customers.
Faasos – Growth
The Co-founder and CEO of Faasos, Jaydeep firmly believes that Faasos has no limit. It has expanded much in terms of the restaurant partners it collaborates with and also diversified its range of food items. Faasos outlets in India will keep increasing as the company has the power and ability to make strong brands in the food industry and the cost structure of lean manufacturing and distribution. In the long run, Faasos has the potential to offer products at low costs in the future as well and also expand to run it at a global level. Over the years Faasos has become one of the top food delivering companies in India. Besides, the company has also:
Built 1000 restaurants in just 24 months.
Increased its revenues by 5x in a really short time.
Raised itself to serve more 30,000 meals in a single day.
Faasos is expanding at an impressive pace. The company is further looking to capture more of the market shares in the times upcoming. Faasos is aiming to expand beyond the borders of India and partner with more restaurants to provide delicious foods to its world of customers. In terms of revenues, Faasos is currently targeting the $100 million mark. The Rebel Foods-owned brand is looking forward to building 10,000 restaurants across Indian in the next 5 years.
Faasos – FAQs
Who is the CEO of Faasos?
Jaydeep Barman is the Co-Founder and CEO of Faasos.
How much is the revenue of Faasos?
In FY20, Faasos has generated operating revenueof ₹572 crores, from ₹305.1 crores in FY19.
Who are the Top Competitors of Faasos?
Faasos is a chain that has direct competition with giant food aggregators like Zomato and Swiggy whereas there are other competitors like FoodPanda and so on
Who is the Owner of Faasos?
Rebel Foods Pvt Ltd., is the Owner/Parent Organisation of Faasos. It was founded by Jaydeep Barman (CEO) and Kallol Banerjee in 2011.
Probably the only growing food company with over 44,000 restaurants spread out in over 111 countries is Subway and it is also one of the fastest-growing franchises in the world. Subway, a food chain specializing in submarine sandwiches. It became the largest fast-food chain in the US in 2002.
About Subway
The founder of Subway, Fred DeLuca was out to fulfill his dream of becoming a medical doctor. He was in the need of money and searched if someone could help pay for his education, a family friend suggested he should open up a submarine sandwich shop. Dr. Peter Buck, Ph.D. in Physics, lent him a loan of $1,000 to become DeLuca’s business partner. They opened up a restaurant called Pete’s Super Submarines as submarine sandwiches were the only specialty. They even planned and set a goal of opening 32 stores in just 10 years.
The story of Subway started in 1965 when Fred DeLuca borrowed $1,000 from Peter Buck and opened his first restaurant in Bridgeport, Connecticut. In a passage of one year, they formed another company to oversee the expansion of their restaurant named Doctor’s Associates, a name derived from DeLuca’s desire to make enough from the restaurant to fund his medical tuition. Over the course of time, the two changed the name of their restaurant chain to Subway in 1968. The Headquarters are in Milford, Connecticut.
Fred DeLuca, the funder of Subway
After Subway’s establishment, it didn’t take much time for it to grow and anticipate incredible success. The first Subway was opened in California in 1978, and by the year 1984, it went international by opening up a franchise in Bahrain.
Fred served as the company’s CEO till 2015. He suffered from an illness for two years, DeLuca finally turned his position over to a person called Suzanne Greco before passing away a few months later. Despite the death of the founder of Subway, it continued to see unprecedented success.
There are 26,744 Subway locations in the US and it actually surpasses the number of McDonald’s locations in the country, making Subway having the leading number of restaurants in the United States. Since then from 2007, Subway has continued to rank high in Entrepreneur’s Top 500 Franchises list.
The popularity of the Subway logo is majorly high because of the logo’s staying power and consistency. Unlike many companies who are unfaithful to the logos they started out with and changed it completely, Subway’s logo has remained mostly the same from the very start.
Subway had created a monogram out of those arrows present in the logo and continues to use that in much of the marketing material. The Subway logo represents the entry and exit of Subway. Customers can see the monogram everywhere from Subway’s commercials to the paper in which they wrap their sandwiches.
Altogether, it has managed to establish a widely recognizable logo that conveys all of the messages to its customers. Subway has managed to get it right, which says they have put a lot of thought and effort into the logo so they are able to keep it throughout the lifetime of the company.
Amazing facts about Subway
After opening the food chain, Pete sold just over 310 submarine sandwiches and charged no more than 70 cents for them.
Rather than going with a less time-consuming process of machine-picking the black olives that other brands use, Subway hand-picks every single black olive to use in their sandwich,
The yummy 6-inch, lunchtime classic was initially called the Snak when it was added to the massive menu in 1977.
There is a combined total of 4,500 Subway stores across the globe. It had stores in over 110 countries in 2017, with the most stores being in the U.K. and Brazil.
Every Subway store uses on an average 16 acres of the leafy green lettuce that we love in our sandwiches every year.
An American decided to rob a Subway store and then thought to best use the stolen money was to buy a Potbelly sandwich at the same place. Later, he was arrested.
According to a former employee, when it comes to the customer’s choice of filling, the meatballs or roast beef are the worst items you could pick due to the amount of time they have been laying around.
During the construction of the first World Trade Center, a Subway store decided to open up a store elevated high above the New York Skyline to feed hungry construction workers.
Number of Subway Stores around the globe
Growth of Subway
Over the years, Subway had struggled to maintain its position in the sandwich arena and retain its establishment in the food market.
In 1974, Subway had started its business through a franchise business model. Exact eight years later, the company with a lot of developments and experience had grown from 16 stores up to 200 stores. Later by 1990 Subway was at around 5,144 locations, with a goal to reach 8,000 stores by 1995. Growing faith of customers in Subway strengthened the company to reach 10,000 stores by 1995.
Subway competed with McDonald’s and surpassed it in the year 2002, becoming the highest number of outlets. In the year 2013, there was an annual revenue of $9 billion from the outlets around the countries. Apparently, the Subway brand has more than 44800 outlets now in more than 114 countries.
Subway in India
After the initial introduction and evolution of this food chain, the focus shifts on India operations. Indian market is a large, younger population that has a high liking towards anything that is ‘made in foreign’ which symbolizes being modern.
Subway is strengthening its delivery network in India by partnering with prominent food aggregators. They are also looking forward to facilitating the customer and introducing mobile ordering for the Indian market.
The popular American restaurant chain, Subway, which has successfully let itself spread across the globe, is also making its place in India. Global sandwich restaurant, food chain Subway has launched its 600th franchise restaurant in India at Bharuch, Gujarat.
The Subway franchise is easy and cheap to set up in a country like India and there is a huge number of Subway stores too. Currently, the American food chain has about 660 restaurants in India, which is the eighth largest market for it in terms of the number of restaurants globally.
Subway’s Indian subsidiary is to be acquired by Reliance Retail, as of August 4, 2021. The company reportedly holds the third-largest share with 6% of the Indian QSR market that is valued presently at Rs 18,800 crore, with Domino’s and McDonald’s, being the current market leaders with 21% and 11% shares respectively.
Mukesh Ambani-led Reliance Industries Limited is looking like it is on an acquisition spree. The company now seems to target the QSR market after tapping in on several sectors including grocery, e-pharmacy, edtech, music, furnishings, and more.
The acquisition deal of Subway India is alleged to be within $200-250 million.
The Bottom Line
Subway is a delicious combination of fresh and healthy menu items, which includes sandwiches and other bakery products, with the speed and convenience of fast food. The restaurant chain Subway has exploded into an international success, and its Indian subsidiary had also been quite revered across the nation. However, the current acquisition deal with Reliance Retail might be putting a stop to the search of Subway Inc for collaboration with a single partner for expanding the business operations but the deal might also usher a bright future ahead.
FAQ
How many subways are there in India?
As of now, there were 660 Subway restaurants in India.
India has a humongous food industry, the sixth largest in the world. Retail startups account for about 70% of the total sales in this segment. According to reports, the food and retail market will be worth $ 828.92 billion by 2020. The food-tech industry is growing rapidly with the emergence and development of verticals like food and grocery delivery, personal chefs, box delivery, and on-demand meals; these are becoming popular day by day. There is a confluence of many successful foodtech-based startups currently operational in India along with several upcoming and promising ones. In this post, we have listed some of the most successful food-tech startups in India.
Zomato | Food Delivery App | Food Chain Startups in India
Zomato is a Gurgaon-based online and mobile app platform for restaurant discovery, ordering, pick-up, and table booking. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. It is an Indian restaurant- search and discovery service that lets you search from over a million restaurants across the globe and currently operates in 24 countries. The app and website also provide information and reviews of restaurants while allowing users to upload images of the menu items they order as well as the outlet’s pictures.
Zomato also launched a white-label platform where restaurants can create their own apps with customized features and integrate with Zomato’s ‘order and analytical’ support. It also did surprisingly well during the pandemic. The startup has raised a funding of about $673 million from investors such as Glade Brook Capital, Ant Financial, and VY Capital among others.
Location
Gurgaon
Total Funding
$673 Mn
Investors
Sequoia Capital, Temasek Holdings, Glade Brook Capital Partners, Shunwei Capital, Vy Capital, Info Edge, Delivery Hero, Neeraj Arora, Ant Financial, Alipay Singapore, Saturn Shine
Swiggy
Founders: Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
Founded in: 2014
Swiggy | Food Delivery App | Food Chain Startups in India
Swiggy is a Bangalore-based food ordering and delivery venture that provides food services solutions for restaurants.Swiggy was founded by the trio of Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in 2014. Vishal Bhatia is the CEO of Swiggy. They are known to deliver food and desserts from restaurants to its customers in under 40 minutes. The company’s smartphone-equipped delivery personnel provide deliveries to customers through an app that runs on routing algorithms. Customers can also track their orders in real-time. When Swiggy began, it offered free deliveries. Today, Swiggy charges its customers Rs. 30 (average) for a delivery but also provides free delivery on huge orders.
Swiggy currently has more than 5000 employees and operates in eight Indian cities; it has more than 9000 restaurants on its platform. The startup has raised a funding of $1.47 billion from investors such as Naspers, DST Global, and Tencent among others. It aims to stand out by offering a curated list of restaurants and services and has an in-house delivery fleet to pick up orders from restaurants for delivery.
FreshMenu | Food Delivery App | Food Startups in India
FreshMenu is a Bangalore-based restaurantthat works on the concept of cloud kitchen and a go-to for neighborhood food delivery.Itoffers freshly prepared food from cuisines such as oriental, continental, Italian, Mughlai and others. The startup offers a menuthat changes daily and delivers freshly prepared meals at the customer’s doorstep in just 45 minutes. It operates through kitchens spread across the city and owns a delivery fleet.
FreshMenu’s meals are crafted with the finest ingredients comprising farm fresh vegetables, fresh dairy, and meat products. It serves about 12000 orders on a daily basis and its average ticket size is INR 320. The startup was founded by Rashmi Daga who is also the CEO of FreshMenu. The startup has raised $24 million in funds from investors such as Lightspeed Venture Partners and GrowthStory Investments.
Faasos | Food Delivery App | Food Startups in India
Faasos Food Services Pvt. Ltd. is a Pune-based “food on demand” startup. Faasos was founded by Jaydeep Barman and Kallol Banerjee in 2011. It is an online food ordering platform that currently operates in 16 Indian cities and takes customer orders on its mobile app and website. Faasos has an operational model wherein it aggregates different restaurant chains and individual restaurants to deliver a large variety of dishes. It has succeeded in striking a balance between scalability and sustainability.
Faasos services around 18000 orders on a daily basis. The company owns brands like Behrouz Biriyani, Ovenstory, and Kettle & Eggs. It has raised a funding of $80 million from names like Alteria Capital, Sistema Asia Capital, Evolvence India, etc.
Location
Pune
Total Funding
$75 Mn
Investors
Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, ru-Net South Asia, and RB Investments
Box8 | Type: Restaurant Chain | Food Startups in Mumbai
Box8 is a Mumbai-basedIndian quick service restaurant chain. Box8 provides users an online platform to browse through various product menus and place order(s) for home delivery. The app is available on iOS and Android platforms.
The startup has raised $12 million which it utilizes to build technology, expand the team, deepen market penetration, and build a seamless customer experience across its mobile and website platforms. It currently operates in Mumbai, Pune, Bangalore, & Gurgaon. The investor list includes names like Trifecta Capital, Mayfield, IIFL Wealth Management,Seed Venture Fund, and 42 others.
HungerBox | Type: Food Business Solution | Food Startups in India
HungerBox is a B2B food-tech startup founded by Sandipan Mitra in 2007. The startup is a full-stack B2B and F&B (food and beverage) technology venture and delivers food solutions for corporate clients. It currently serves over 100 clients across India and continues to delight them every day with its services.
HungerBox is revolutionizing office food and cafeteria management with the help of the best caterers in the city and through the best in class technology, infrastructure, and robust operational processes without compromising on food quality and food safety. The startup aims to enhance the productivity of food companies (restaurants, delivery startups, etc.) by providing them a technology-based system so that the focus is only on food.
Location
Bangalore
Total Funding
$7 Mn
Investors
Neoplux, Sabre Partners, Kris Gopalakrishnan, LionRock Capital
Curefit | Healthy Food Startup | Food Startup in India
Cure.fit is based out of Bangalore and was founded in 2016 by Mukesh Bansal. Mukesh is also the co-founder of Myntra. Cure.fit is an Indianhealth and fitness venture that offers digital and offline experiences across fitness, nutrition, and mental well-being. It wants to make fitness fun and easy. Cure.fit focuses on preventive healthcare space and enables users to proactively manage their health through various offerings.
Cure.fit provides fresh and tailor-made salads under the brand Eat.fit. It also home delivers fresh and homely food low in carb, high in protein, and includes lots of green vegetables. The focus is on healthy food spanning across Indian cuisine, fusion food, salads, and snacks. Cure.fit has raised $170 million from Kalaari Capital, Aceel Partners, and Oaktree Capital Management among others. Hrithik Roshan is Cure.fit’s brand ambassador.
Location
Bangalore
Founded
2016
Total Funding
$294.6 Mn
Investors
Accel Partners, IDG Ventures USA, Kalaari Capital, Accel, IDG Ventures, Unilever Ventures, Oaktree Capital Management, InnoVen Capital, Kotak Mahindra Bank, Chiratae Ventures, Epiq Capital, Pratithi Investment Trust, Anand Piramal Trust
Magicpin | Coupon Website | Food Startups in India
MagicPin is a coupons website. It provides rewards and cashback to diners. The company was founded in 2015 by Anshoo Sharma and Brij Bhushan. MagicPin has its presence in 16 Indian cities like Delhi, Hyderabad, Chennai, and Pune. With 1.4 million users, the platform drives Rs. 30 crores of monthly sales for partner food and beverage (F&B) chains that include KFC and Hard Rock Café. MagicPin is also exploring two other segments: groceries and beauty & wellness.
Diners can earn cashback if they dine in a restaurant partnered with MagicPin by uploading a photo of the bill along with a selfie with the dish. To increase user engagement, MagicPin uses data from check-ins, recommendations, and reviews in a live feed-style timeline interface. The platform also provides promotional service to restaurants for posting surveys and advertisements.
Location
Gurugram
Founded
2015
Total Funding
$30 Mn
Investors
Lightspeed Venture Partners, Vy Capital, Knollwood Investment Advisory, Google Launchpad Accelerator, Sequoia Capital India
Swadhika Foods | Food Processing Startups in India
Swadhika Foods is an Indian food processing startup headquartered in Chennai. It is a leading supplier and exporter of premium quality frozen IQF fruits and vegetables, and frozen ready to eat/cook foods. Swadhika Foods is accredited to APEDA, USFDA, FSSAI, ISO, BRC, and HACCP to ensure reliability and meeting international food safety standards. Swadhika Foods has a network with the best partners to ensure reliable source, produce, and product.
With people inclining towards better lifestyle, the food-tech industry is booming and evolving at the same time. In the next few years, one can expect drastic change and increase in the number of food-tech companies in India. Do comment if you know about any awesome food-tech startup in India that deserves to be on this list.
Frequently Asked Questions – FAQs
How do you start a food startup?
First and foremost you’ll need to make a solid business plan which will include doing a thourough research in the field! Find out everything you can about your competitors. Then you’ll need to ensure you have enough funds to start off with and sustain yourself for the first couple of months. If it a food tech business you’ll need to build an app or if its a restaurant then you’ll need to secure a location and furnish it. Next you’ll need to get all the licences and permits necessary. Hire a team or choose a logistics partner and get advertising your business! Good Luck!
What food can I make and sell from home?
Food that takes times to perish are the best options. You can make jams, sauces, tea mixes, Cake mixes, cookie mixes and alike will last longer so you will have less food wastage in the long run.
What are some famous food tech startups in India?
You cannot mention food tech startups in India without talking about Zomato and Swiggy. Some other ones are Faasos, Box8, Magicpin, HungerBox to name a few.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Fastor.
In today’s life, nothing can make you as content as a sumptuous meal can. And this food fever has hit the entrepreneurial world as well. Food has become the secret ingredient for success in life for many Indian food startups. Digitalizing the food startups is a transformation in the food and retail industry.
That’s a no hidden fact that now every ‘cuisine connoisseur’ is taking hygiene as a serious concern before ordering their food or dining out in restaurants. Fastor is a food-tech startup offering its customers a new contactless dining experience amid this global pandemic.
FASTOR is a Delhi-based food-tech startup that has now become a new normal to all food-lovers, by offering them contactless dining and keeping up with the hygiene factor. Fastor is the 1st AI- Enabled Self-Checkout Technology platform used for takeaway and dine-in at all food & retail places. Fastor has now become a new engaging experience that is going to change the user experience, and it is as simple as you can think.
They have digitalized the offline stores by enabling QR-based ordering, and payment can be done online with available payment methods. Fastor is also trying to build a network of such food places & retails to provide a holistic end-to-end business experience. The Tech and the overall working of the company are handled by Karan Sood, while Anmol looks over the marketing. The current size of the organization is 10 people. The work culture is very youthful and diverse. They always look for new emerging young talent that has the ability to think out of the box and to contribute with their ideas and expertise in the company.
Fastor- Founders
Fastor was founded by a trio – Karan Sood (CEO), Rajeev Sood and Anmol Wadhwani (CMO).
Fastor Founders | Karan Sood and Anmol Wadhwani
Karan Sood (CEO) is an IT engineer from BPIT, GGSIPU, and entrepreneur from IIT Delhi. He holds an exceptional command over coding skills like React Native and Java for web and mobile. He is a visionary who launched a startup straight out of college after engineering with a zeal to move forward. He has been looking after the products at Fastor while he was swamped with work very early in life by submerging himself into his father’s business. He had created various innovations in his school like Solar AC which was highly acclaimed at both intra-school and inter-school levels.
Anmol Wadwani is a BBA graduate and a Digital marketer. She is the Co-Founder and CMO at Fastor. She is also an exceptional digital influencer in Beauty, Lifestyle, and Fashion. She has established a dedicated reach of over 5 Lakh audiences monthly over various platforms. She has previously worked with CashKaro as Deals and promotion analyst before joining the Fastor startup. She is a budding YouTuber and is focused to help Fastor grow as a business with all her expertise in digital media.
Since they came from extremely different backgrounds, but their love for food brought them all together with Fastor. On the advisory board, they have Mr. Rajeev Sood, with experience of over 25+ years in the corporate industry and Mr. Sanjay Sharma, an ex-Microsoft Country Sales Head with experience of 20+ years of working in renowned companies, heading the sales and marketing.
Fastor- How It All Started?
The Fastor company is a food-tech startupwith a new engaging experience that is going to change the user experience, but it is as simple as you can think. Fastor is now offering its customers a way of contactless dining with health concerns at its top priority. While founders were from extremely different backgrounds, their love of food was like an epicure. And so they wanted to build a food startup, which stupendously grew within a month. Guess what, it was a college full of food enthusiasts that led this business to gain its customers every hour.
At Fastor, the team is trying its best to leverage artificial intelligence in retail buying by enabling a very personalized experience for the buyers, along with providing business insights to their merchant partners. The main idea behind Fastor is to create an ecosystem.
Fastor is not just offering its technology for the merchants and their customers but is also trying to build a growth platform that leverages the technology and is capable of driving new businesses for the merchants as well.
Fastor- Name, Logo & Tagline
Sometimes there are interesting stories around coming up with names and we can’t afford to miss it.
Fastor Logo
The name is short for Fast + ORdering= FASTOR. While giving a name to the product, the idea was to make it very clear that customers can order their food faster than ever. The bolt inside the Fastor logo depicts every user who uses Fastor to get the orderings or work done as fast as possible.
Their tagline is
What’s Future of Modern Dining: Fastor
They go with an afire Acronym- F.A.S.T.O.R. Let’s see that:
Fastor Acronym
Fastor- Vision & Mission
Fastor is the 1st AI-Enabled Self-Checkout technology platform used for takeaway and dine-in at all food & retail places. The vision of this product is to revolutionize the way food places and retail stores are operated. They wanted to solve the real-life problem of waiting in queues and inconsistent order processing at such locations. Fastor has been on a mission to digitalize the offline stores by enabling QR based ordering.
The core belief of the team behind Fastor is to implement an efficient mechanism in retail by adding a new way to order and enhancing the customer experience to the next level. At the same time, Fastor is also trying to build a network of such food places & retails to provide a holistic end-to-end business experience.
Long Term vision of Fastor is to revolutionize 21st century retail buying. They want digitalization to take over the hospitality and retail industry. Their short-term goal is to restart the current challenging markets by introducing contactless ordering in the hospitality & retail industry.
Fastor- Products/Services
Whenever anyone goes out to eat the next time, they don’t have to touch the menu or wait for a waiter. They simply have to sit at the table, and there are QR codes assigned to each table. Next would be to open a google lens or an iPhone scanner and scan the QR code. After scanning, they’ll get the whole dynamic menu of the food place on their phone. They don’t have to download any application for it, they simply can access the catalog and order through a web app. The customer can select the food items and take as much time to think about it that they want to order in the cart, and can directly pay using any digital payment method.
They have Fastor Business which is another application where they can handle and process all their orders and take care of the workings of their food place.
Fastor is now targeting the hospitality & retail industry. Since, India is one of the fastest-growing retail markets in the world, with 1.2 billion people. The retail industry has reached US$ 950 billion already.
In the next 5-10 years, India is expected to become the world’s fastest-growing e-commerce market, driven by robust investment in the industry and a rapid increase in the number of internet users. Various agencies have high expectations about the growth of India’s e-commerce market.
Fastor- Business & Revenue Model
The Fastor Business model took off with its beta runs in October of 2019. Having tested their systems at high footfall locations, and they were ready for a full-scale launch by January 2020. Even with their first attempt at creating the market for this product, the response on the ground the company received was phenomenal.
Fastor had done close to 5000+ orders by February 2020. They took the global pandemic lockdown as an opportunity for the team to scale the product. In fact, a global launch within this period is in the pipelines as well. The company is now starting its operations in the major world economies and Fastor is fully compliant to execute orders in international markets.
Being a lean team, Fastor is looking to onboard over 2000+ new merchants in the next three months with a current rate of 20+ new onboardings per day.
They launched the company in the most youthful market, that is colleges. Their pilot run was started in college cafeterias; where the students were extremely tech savvy and could relate to the product very easily. The best growth channel for any medium is word of mouth and this helped them to acquire their first 100 users.
Fastor- Challenges
The challenges to bring Fastor to life were immense. When they initially started to work on the idea, there were no benchmarks that the trio as young entrepreneurs could set for themselves in 2018. The product that they were setting out to create was original and unique. Thus, as innovative founders, they had to ideate as much as possible. The drive behind Fastor was palpable – all were young, energetic, and passionate.
Fastor- Future Plans
Fastor started with its beta runs in October of 2019. They tested their systems at high footfall locations and were ready for a full-scale launch by January 2020. Fastor had done close to 5000+ orders by February 2020. they are now initiating their operations in the major world economies with major global gateways and are fully compliant to execute orders in international markets. Fastor is always looking for young talent that has the ability to think out of the box and to contribute with their expertise in the company.
Now, they are looking forward to onboard over 2000+ new merchants in the next three months with a current rate of 20+ new onboardings per day. Due to the ongoing pandemic, the business is on halt. Once the pandemic stables, the market will come back to normal.
There are new emerging startups coming up in the market. Startups that are more customer focused and solve some underlying problems are the ones that are going to survive and thrive this competitive market. Feel free to write to us, give some feedback and comments on this emerging food-tech startup Fastor.
FASTOR is a Delhi-based food-tech startup and is the 1st AI- Enabled Self-Checkout Technology platform used for takeaway and dine-in at all food & retail places.
How does Fastor work?
There will be QR codes assigned on each table at restaurants and people will be able to scan them to get access to the restaurant menu and order off of it as well as pay digitally.
Who is the Founder of Fastor?
The three Fastor Founders are Karan Sood (CEO), Rajeev Sood and Anmol Wadhwani (CMO).
Sarika Anand
