Redbasil raises $300 K in the seed funding round led by Mumbai Angels
- ByStartupStory | June 10, 2022
Redbasil, a tech-driven, zero-inventory wholesale food supply marketplace for restaurants and cloud kitchens, earned US$ 330k in a Seed round headed by Mumbai Angels. SAT Industries Ltd, Planb Capital, and other investors also took part in the round.
Nandini Mansinghka, the co-founder and CEO of Mumbai Angels said that the company is optimistic that the current round of funding will enable the platform to realise its enormous market potential, serve more consumers, and develop the business.
The digital marketplace approach of Gurugram-based Redbasil enables restaurants and cloud kitchens to purchase high-quality food supplies easily using its mobile app, which was launched in 2021. The funds will be used to grow Redbasil’s ground operations and sales staff in the Delhi-NCR region, as well as to invest in engineering resources and technology infrastructure.
Naman Dayal, Founder and CEO of Redbasil stated that Redbasil was formed with the simple notion of making wholesale food supply trustworthy and convenient. It discovered that the Indian food value chain was beset by issues such as variable quality, unpredictable price, and late delivery, resulting in a significant gap in the system. Redbasil was created as a digital marketplace to help commercial kitchens in India overcome these issues. The company is ecstatic to have the support of marquee investors in the efforts to develop a strong food value chain ecosystem for restaurants and cloud kitchens.
Ninad Karpe, Partner, 100X VC said that Redbasil, with its digital marketplace, is redefining the transaction among small firms in the food and beverage industry. They have a thorough grasp of the demands of clients in the wholesale food distribution value chain and are using user-centred design and agile engineering to meet those needs. With the new amount of investment, we’re excited to see how far they can go.
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