Online meat delivery startup Zappfresh has raised Rs 30 crores (approximately $4.3 million) in its latest round of funding from a consortium of investors including Ah! Ventures, HT Media, Unity SFB, and Heifer Impact. The company said it will deploy capital towards “acquisitions, expansions, and infrastructure upgrades in both the North and South markets.”
Zappfresh said it also plans to launch new product lines including a variety of poultry, goat meat, seafood, and ready-to-eat items.
Deepanshu Manchanda, Founder, Zappfresh said the investment “will not only help us expand our reach but also build more traction in our diverse product portfolio, which includes poultry, goat meat, seafood, and ready-to-eat products. We are excited about the opportunities this partnership will unlock, allowing us to serve our customers better and redefine the meat delivery landscape in India.”
Zappfresh said it is the only meat delivery platform profitable in the market and is planning to acquire “some new companies and diversify its product range, further strengthening its position in the market.”
Pranjit Talukdar, a representative of Heifer Impact, said, “Our partnership with Zappfresh, is set to improve the livelihoods of many smallholder women backyard poultry producers in the country, helping them expand their market reach and generate substantial income.”
Apart from Zappfresh, the online meat delivery market in India includes other players such as Licious, Fresh To Home, TenderCuts, Meatigo, etc., along with grocery verticals including Blinkit, Zepto, Amazon Fresh, and more.
According to the data from statistics portal Statista, the Indian meat market was worth $31.61 billion in 2023 and is expected to grow annually by 6.23 per cent till 2028. As of 2021, the online meat delivery market had tripled in size from Rs 700 crore in 2019 even as it had only 1 per cent share of the total meat market in India, which is largely unorganised, according to consulting firm RedSeer.