Gurugram-based healthy food supplier NutriTap has raised ₹2 crores ($282,000) in a seed funding round from angel investors Apoorva Patni, Sameer Khetarpal and other senior members of Google, McKinsey & Co. etc.
Founded by Rajesh Kumar and Medha Mishra, NutriTap offers nutritious food products and beverages through automated retail machines. The company has started operations on a corporate-led model and has installed 50 vending machines across 34 offices in Delhi NCR and Mumbai.
NutriTap is planning to start operations in Bengaluru and is in talks with its existing clients as well as some new clients to expand its base. The startup is managed by 10 team members and together they will use the freshly raised capital to scale up in Bengaluru and Mumbai. Moreover, it will also focus on developing its tech-integrated platform.
“We are providing a platform to organic/health food/wellness partners, many of those lesser known, through our food kiosks and also enable them to raise awareness about health/their products through kiosk integrated digital media. It’s a win-win proposition for both our customers and our partners,” Kumar says.
The startup sells products like sandwiches, flax seeds and healthy juices among 20 other food categories, 70 product varieties and 100 different flavours with a price range of ₹20 to ₹50. The company has a set of runners to maintain the vending machine stocks and it manages the supply remotely using a dashboard. NutriTap is expecting to close the year with ₹7 crores run rate. It is also testing some of its features with bus chains, hospitals and other entities to accelerate its growth and presence.
The United States of America has over 7 million vending machines, Japan has 2.5 million machines and China has 2.5 lakh vending machines. On the other hand, India has only 2,000 vending machines. According to a report by TechSci, the organic food market in the country is expected to grow at a CAGR of 25 per cent between 2015 to 2020.