funding

Prime Venture Partners pumps Rs 6 Cr into FoodyBuddy

funding
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Neighbourhood food network FoodyBuddy that enables consumers to sell home-cooked food, has raised Rs 6 crore in pre-Series A round from Prime Venture Partners.

The Akil Sethuraman, Rachna Rao, and Anup Gopinath led startup will use the fresh proceeds to develop the product and expand the team. Currently, it is operational in Bengaluru with plans to expand to five other cities including Hyderabad and Pune in the next one year.

Founded in 2015 and piloted in early 2017, FoodyBuddy is a platform where home chefs can sell their food in their neighbourhood. Residents of over 100 apartment communities in Bengaluru are using the platform that claims to have sold more than 2,50,000 meals since inception.

The consumers and sellers connecting platform has garnered around 20,000 households who use FoodyBuddy app and while more than 1,000 home-chefs are selling on it.

The average meal comes in the range of Rs 150-200.

The pricing and charges are decided by the home chef, who also bear the cost of packaging and delivery. On each delivery, FoodyBuddy takes a commission between 5 to 10 per cent.

While users can rate the food and the chefs on the platform, the chefs (mostly females) can have conversations with foodies separately. 

For Prime Venture Partners this is the first ever investment in foodtech segment. It has invested in Perpule, myGate, Ezetap, HackerEarth, among others.

In March, the Bengaluru-based early stage investor had closed its third fund at Rs 400 crore.

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Below is the bank details:

 
Amount: INR 3,19, 000 (After Adding 18% GST and Deducting 2% TDS)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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