India’s first full-stack FoodTech platform, Badhaan on Thursday announced that the company has secured an undisclosed amount in seed funding led by India Accelerator’s angel investors’ network iAngels.
Pramod Veturi, Sivaram Vallampati, Anand Mahadevan, and a clutch of high-net-worth individuals and industry veterans also participated in the round. According to an inner source, the deal was around RS. 1 crore.
The fresh funds will be used for business expansion, launching private label brands, and platform development. It claimed to have delivered over 1,000 orders to more than 100 customers. As of now, Badhaan serves Hyderabad and Chennai and plans to expand its presence in two more cities by the end of the financial year 2023.
Vishnu Vikyath G, Founder of Badhaan.com stated, “What Badhaan does is improve a restaurant/cloud kitchen’s bottom line, inventory position, and cash flow. Our vision has always been to empower business financially and that’s what drives real value in B2B markets.”
Munish Bhatia, Co-Founder of India Accelerator, also commented on the developments: “Raw material procurement accounts for 35 percent of a restaurant’s cost structure.” There is immense potential for a data-driven platform to disrupt the market, and Badhaan is doing just that. We are excited to partner with them in their mission to organize the restaurant procurement”
Founded in November 2021 by Vishnu Vikyath G and Manoj Mareedu, Badhaan.com is a DPIIT-approved venture accelerated by India Accelerator. The platform offers raw material procurement and a smart inventory management platform for restaurants. The technology and data-driven inventory platform help restaurants track, predict, and fulfill their procurement requirements.
Within a year of its inception, Badhaan has already partnered with some of the best-known kitchen chains and restaurant chains in Hyderabad. The FoodTech platform has helped its clients reduce stockouts and waste by 15%, along with a 10%–15% improvement in procurement costs.