Redbasil, a tech-driven, zero-inventory marketplace for wholesale food supply for restaurants and cloud kitchens, has raised US$ 330k as part of their Seed round led by Mumbai Angels. The round also saw the participation of SAT Industries Ltd, Planb Capital and other investors.
Redbasil will primarily use the capital to expand its ground operations and sales team in the Delhi NCR region and invest in engineering resources and tech infrastructure. The platform also aims to onboard 500+ outlets and clock a monthly GMV of over INR 1.5 Cr.+ with the funding. Redbasil plans to expand further in the core categories of fresh produce, fresh meats, seafood, and dairy products while also starting operations in new categories, such as imported groceries and frozen products.
Redbasil’s digital marketplace model enables restaurants and cloud kitchens to source high-quality food supplies seamlessly through its mobile app. “We are confident that the latest infusion of capital will help the platform tap into the immense potential in the market, cater to more customers, and scale the business,” said Nandini Mansinghka, Co-Founder and CEO, Mumbai Angels.
While placing an order from Redbasil, the customer can procure all their food supplies at one stop. The online marketplace improves quality, services and price discovery for restaurants while offering suppliers a full-featured digital store front to grow their business. Mobile-App-based digital store front, procurement, order fulfillment and payment transactions enable simple, fast, accurate and low-cost operations.
Naman Dayal, Founder and CEO, Redbasil said, “Redbasil was founded with a simple idea – making wholesale food supply reliable and convenient. We found that the Indian food value chain faced multiple challenges like inconsistent quality, volatile pricing and delayed deliveries, creating a major gap in the system. Redbasil was conceptualized as a digital marketplace to address these challenges for commercial kitchen operations in India. We have received an incredible response from our customers. We’re delighted to be backed by marquee investors in our journey of building a robust ecosystem in the food value chain for restaurants and cloud kitchens. This funding will help us achieve our goal and reach greater heights.”
Ninad Karpe, Partner, 100X VC said, “Redbasil, with its digital marketplace, is transforming the transaction among small businesses in the food and beverage industry. They have a deep understanding of the needs of the customers in the wholesale food distribution value chain and are leveraging the same with user-centered design and agile engineering. We are looking forward to their expansion with the fresh round of funding.”
