Funding Alert
Retail tech start-up NutriTap Technologies raised about $1.5 million from Venture Catalysts and others
-
ByStartupStory | May 11, 2022
Retail technology start-up NutriTap Technologies said it has raised about $ 1.5 million from Venture Catalysts, LetsVenture, IK Capital, Elysian Fintech, and several well-known retail industry HNIs.
Founded in 2018 by IIT Kharagpur graduates Rajesh Kumar and Priyank Tewari, Nutri Tap creates an alternative retail channel for brands to retail directly to their customers (D2C). Startups’ full-stack retail expertise includes intelligent kiosk technology and a simplified distribution mechanism.
India has a limited number of players capable of creating an efficient unmanned retail infrastructure and is heavily dependent on importing old-fashioned and expensive vending machines from the global market. NutriTap claims to address this issue by building an in-house patented retail kiosk technology that includes mechanical design, payment hardware, back-end software, data and business insights.
NutriTap currently operates over 250 smart retail kiosks in India’s Tier 1 metropolitan area.
“While traditionally, alternate, kiosk-based retail has been associated with vending machines and has been very limited to either corporate snacking or residential grocery categories, we believe that our technology has the potential to cater to the larger FMCG retail market and bring in a D2C flavour for brands across multiple categories,” said cofounder Priyank Tewari.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
