Zappfresh, Delhi-based Meat Delivery Startup, Expands to Bengaluru with Acquisition of Dr.Meat
- ByStartupStory | July 13, 2023
ZappFresh, the online meat delivery startup operating in Delhi-NCR, has announced the acquisition of Dr. Meat, a Bengaluru-based brand operated by Sukos Foods, in a deal worth $3 million. The acquisition is a significant step for ZappFresh as it aims to enter new markets and expand its presence across India.
The deal, which was not disclosed by ZappFresh, but estimated by market sources to be valued at approximately $3 million, marks a strategic move to enter the Bengaluru market and strengthen the company’s growth strategy. The acquisition aligns perfectly with ZappFresh’s vision for the future.
Founder of ZappFresh, Deepanshu Manchanda, highlighted the value of the acquisition, stating, “Dr. Meat’s demonstrated ability to achieve substantial scale without compromising its bottom line resonates strongly with ZappFresh’s vision. We have been profitable for the last 4 years and anticipate reaching revenue of Rs 70 crore within 12 months in Bengaluru alone, while targeting a top line of Rs 300 crore by the end of the fiscal year 2023-24.”
ZappFresh, known for its direct-to-consumer (D2C) model, has gained significant support from investors, including SIDBI VC, Dabur Family Office, Letsventure, Keritsu Forum, and prominent angels from the food and tech sectors.
The acquisition of Dr. Meat is seen as just the beginning of ZappFresh’s expansion plans. The company remains proactive in seeking additional growth opportunities, with ongoing talks regarding further acquisitions that will complement its expansion plans and enhance its market presence.
ZappFresh’s entry into the Bengaluru market signifies its commitment to bringing high-quality meat products and efficient delivery services to customers across India. The company’s successful track record and strategic acquisitions position it for continued growth and success in the dynamic meat delivery sector.
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