Posts

Showing posts from August, 2017

What does the launch of UberEats and CureFit mean for FoodTech in India?

Image
Remember the dialogue 'Anybody can cook' from the movie Ratatouille? Similar was the scene in the Indian FoodTech sector as there were startups mushrooming in each nook and corner of the country. The FoodTech sector saw an investment of around $321 Million in the year 2015. But in the last couple of years, the funding in FoodTech sector has dried up. The number of startups in FoodTech dropped from a stalwart ‘337' in 2015 to just ’64' in 2016.  In 2015, Food delivery startups grossed $300 Mn in overall sales. In 2016, the amount was expected to be $500 Mn. The market is huge and can very easily touch 1 Bn dollars in the next 2-3 years. With the advent of smartphones and more and more online ordering habits of the millennials and young professionals. This sector is definitely not going to loose steam. So what makes this extremely lucrative segment so hard to crack? It's still fresh in our minds how some of the foodTech startups like Dazo, EatFresh, TinyOwl have fol…