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SpoonJoy raises $1M from SAIF; to expand to Delhi and Mumbai soon

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Bangalore based SpoonJoy, a subscription based meal company, has raised funding worth $1 million from SAIF Partners, reports VCCircle. The funding will be used to expand to Delhi and Mumbai in the next 2 months.

SpoonJoy had raised an undisclosed amount of funding from Flipkart co-founder Sachin Bansal and chief product officer Mekin Maheshwari late last year. Founder of Tracxn Abhishek Goyal and co-founder of Delhivery Sahil Barua had also participated in the funding. The startup had planned to use the funds to grow its customer base, expand operations in Bangalore and launch an iOS app.

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SpoonJoy offers an on demand meal courses for lunch and dinner and a weekly subscription based food delivery option where it offers fruits, salads, sprouts, snacks and health foods from Monday to Friday. It offers lunch in Bangalore’s Indiranagar, MG Road, Bellandur, Koramangala, Domlur and HSR Layout and dinner in HSR Layout. It will also expand to other areas in the next two weeks.

It claims to deliver meals in 30 minutes and says it processes 700-750 orders daily (out of which 90% are from offices). It also has 8 kitchens across Bangalore. The company also claims that 70% of its customers order from the mobile app.

SpoonJoy was launched a year ago and founded by Manish Jethani. Jethani brought on board Sourabh Agarwal, Prateek Agrawal and Kanishk Tyagi as co-founders later. Its competititors include startups like FreshMenu, Yumist, Frsh, iTiffin, TinyOwl, Zomato, Foodpanda and Swiggy.

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The food-tech startup industry has been seeing a rise in investments this year. In February, Mumbai-based startup incubation platform AntFarm was to be merged with Meals on Wheels with its yet-to-be-launched grocery and essential products ordering platform Scootsy, in February. In March, Ola launched Ola Cafe where it would deliver food from tie ups with some restaurants. Last week, Hyderabad-based Red Sprout Foods which owns the Hello Curry brand acquired the online food ordering and delivery service Paratha Post. Last month, restaurant aggregator Zomato started its food delivery service in Delhi NCR with Mumbai, Bangalore in the offing along with more cities.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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