Eatonomist, an online platform that delivers meals prepared at its kitchens, which is run by Fitmeal Solutions Pvt. Ltd., has raised seed investment from MCube Capital Advisors Pvt Ltd.
The Gurgaon-based startup, will use the capital for marketing and building brand as well as will soon launch an app for its users. Founded in November 2014 by Anisha Dhar and Nupur Khanna, Eatonomist follows a full-stack business model wherein it controls the kitchens and delivery services and claims to deliver calorie-counted gourmet meals. Its menu includes sandwiches and desserts besides a range of Indian foods.
The startup is currently operating in Gurgaon and caters to corporates. With a team of 20 employees, including five chefs, it claims to be doing more than 300 orders a day. It plans to expand its network to Delhi by the end of this year.
According to a report by India Brand Equity Foundation, the online food ordering business in India is estimated to be Rs 5,000-6,000 crore. Other players operating in this space include Brekkie, Faaso’s, Box8, Cookaroo Food Network Pvt. Ltd, First Eat, FreshMenu and Swiggy.
In March, Cookaroo had raised angel funding from Highland Hospitalities’ MD Vijay Krishna Yadav. Earlier this year, First Eat secured $200,000 (around Rs 1.4 crore) in seed investment from an undisclosed investor. In January 2016, FreshMenu raised $17 million (around Rs 110 crore) in its Series B funding round led by Zodius Technology Fund. In the same month, Swiggy had raised $35 million in a Series C round of funding led by New York-based investor Harmony Partners and Singapore-based RB Investments.
Apart from this, Online food ordering app TinyOwl has reportedly shut down its operations in 17 cities except some areas of Mumbai. Mobile app Zeppery, which allowed users to pre-order food at restaurants and other food outlets, also decided to shut shop earlier this month and in February, online meal service startup Frsh.com, had closed its operations in Noida and Delhi, laying off 20 employees in the process.
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