Funding story
The food tech sector has seen several topsy-turvy changes over the past year. Inspite of the dire straits which some food tech startups, such as Dazo, SpoonJoy and TinyOwl have found themselves in, the sector as a whole continues to display enormous potential. One of the most promising food tech startups is Gurgaon-based Twigly. Set up in 2015 by Sonal Minhas, Naresh Kumar Kachhi and Rohan Dayal, Twigly recently managed to raise $200,000 in seed funding from Tracxn Labs and a host of angel investors, including the likes of Amit Gupta (co-founder of Inmobi), Sahil Barua (co-founder of Delhivery) and partners and employees of SAIF partners.
Twigly aims to use the funding to strengthen its tie-ups with hyperlocal delivery startups, and enhance its footprint across Delhi.
Twigly’s services, and what the food tech sector looks like
Twigly essentially claims to create an online kitchen, which specializes in providing affordable organic food. Twigly’s online kitchen seeks to make pre-ordered food at a central location, before shipping it directly to customers. Twigly also claims to lay great emphasis on maintaining the nutritive content of its products, and on the ease and efficiency of delivery, which is typically ensured within 45 minutes.
The startup also claims to be aware of the pitfalls which beset this risky industry by managing costs. Currently, their operations look extremely promising, with over 40 orders being handled per day. Given the extensive investment which has been made into handling orders and delivery, one can only expect this figure to go up in the weeks ahead. Sonal Minhas, co-founder, claims that the food tech sector continues to remain extremely lucrative for startups, with margins of over 50-60% being observed.
What we think
Given recent events, one can only share this optimism. Twigly’s kitchen at Gurgaon’s Sector 26 is a state-of-the-art facility, and a new kitchen is planned, which will be capable of handling as many as 400 orders a day. NCR’s foodies are sure to have a wonderful time in the weeks ahead.
