Ripsey Food Tech, which owns and operates an eponymous online food ordering and delivery portal, has raised Rs 1 crore (about $132,940) through angel investors platform ah! Ventures in an ongoing bridge round of investment dubbed as ‘pre-series.’
The company did not disclose the identity of the US-based investor.
Mumbai based Ripsey aims to use the fresh capital to build its technology platform as well as fund its next leg of growth and expansion to other metros and tier I cities in India.
Formerly known as Fresh Food Co, the startup plans meals for users in consultation with fitness experts and nutritionists, gets its in-house chefs to prepare at its central kitchen, and delivers the meal box to the consumers doorstep.
It offers subscription meals to achieve fitness goals with a range of snacks and confectioneries.
It is currently eyeing retail as another revenue path. The company operates in the Mumbai metropolitan region.
“We are building a technology platform that is relevant to the consumers wherein they can not only track their food diary, but also their clinical profiles such as their blood sugar levels, hormone profiles etc alongside their fitness activity through a multitude of integrations. This elaborate consumer profiling is what we will base our artificial intelligence (AI) engine on. We believe there is a large market opportunity, not just in India but in the overseas markets as well,” co-founder Alekhya Boora said in a statement.
This is the 2018-founded startup’s second external investment. It raised another Rs 1 crore in seed investment in May 2019.
“Given the current tense environment due to Covid-19, the focus on eating and staying healthy is gaining more prominence and Ripsey is well poised to benefit from the same as well as benefit those who are seeking a healthy lifestyle,” Atul Javeri, venture partner at ah! Ventures said.
ah! Ventures has made 58 investments, taking its total investment portfolio to $26 million with 9 exits till date, the statement added.
Earlier in the week, it disclosed an investment in Park Smart Solutions, a Delhi based startup that runs a parking spot reservation platform ParkSmart.