Mumbai Angels Invests in Redbasil

• ByStartupStory     |    July 25, 2023

Mumbai Angels, a leading private investment platform, has announced its investment in Redbasil, a dynamic asset-light B2B marketplace catering to the restaurant industry. Redbasil aims to utilize the capital infusion to bolster its B2B sales team and expand its ground operations. Additionally, the startup will allocate funds towards enhancing its advanced analytics capabilities and the development of a web-based platform, complementing its existing mobile apps. The funding round was spearheaded by South Asia Tech Partners, further strengthening Redbasil’s market position. This investment marks another significant milestone in the growth journey of the company.

Redbasil, which had successfully raised funds in its previous funding round in April last year, has experienced remarkable growth, achieving a staggering 4X expansion in the past 14 months. The company’s continuous efforts in delivering value-added solutions have propelled it to be a preferred choice in the industry.

The B2B marketplace, Redbasil, offers a meticulously curated catalogue featuring over 10,000 premium ingredients and high-quality food suppliers. These offerings are thoroughly vetted by renowned chefs and commercial kitchens, ensuring the highest standards of quality and reliability. Redbasil’s commitment to excellence has earned it a monthly Gross Merchandise Value (GMV) of over Rs 2.5 crore.

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