News & Media 5th Feb 2018

Delhivery co-founders lead seed in foodtech startup Food Memories

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Ahmedabad-based FoodMemories, a marketplace for authentic geographically unique Indian foods has raised seed funding led by e-commerce focused logistics provider Delhivery’s cofounders Bhavesh Manglani & Suraj Saharan.

The funding round also saw participation from Darshan Upadhyay & Sanjay Notani, Partners at Economic Laws Practice, Mumbai and Sachin Khandelwal, Founder of Bangalore based Corporate Gifting major – Kirti Sales & Services and others.

However, the quantum of the deal couldn’t be ascertained.

The funding will be help FoodMemories to expand its current business segment and establish a physical retail footprint in the top cities across India, the company said in a press statement.

Incorporated in September 2016 by Harmitsingh Sikh, FoodMemories claims to aggregate all top brands and delicacies of Indian food industry and delivers to customers around the globe.

Also Read: Ola bought Foodpanda India operations for mere Rs 28 crore

Operational in 26 states across India, FoodMemories, currently has a catalogue of about 200 major brands and over 3000 products.

Food Memories is essentially a marketplace and hence does not carry inventory. It simply connects buyers and sellers along the lines of Flipkart, Amazon and Paytm among others. Notably, the platform claims to deliver same day in the same city and within 48 hours for intra-city orders, while internationally it takes 4-5 working days.

  • A quick look at Delhivery journey so far

    The Gurugram-based e-commerce logistics major Delhivery was launched in 2011 by Sahil Barua, Mohit Tandon, and Suraj Saharan. Later, they were joined by Bhavesh Manglani and Kapil Bharati.

    In May, last year, the logistics company cum supply chain enabler had secured $30 million funding from Chinese conglomerate Fosun International. Since its inception, Delhivery had amassed hundreds of million in funding from likes of Tiger Global Management, Nexus Venture Partners, Times Internet Limited (TIL) and others.

    It currently claims to service about 1200 cities and 12000 pin codes. It has about 24 fulfilment centres for B2C and B2B fulfilment services and works with companies like Flipkart, Paytm and several others. Last year, Delhivery was also in talks to raise a funding round from Alibaba.

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