ZappFresh, a meat delivery startup, completes $3 million acquisition of Dr. Meat
ZappFresh, an online meat seller in Delhi-NCR, enters Bengaluru with the acquisition of Dr. Meat in a deal estimated to be around $3 million. ZappFresh aims to expand its presence and revenue in the new market.
Grishma Bhatia
ZappFresh, a startup that sells meat online in Delhi-NCR, has made a move to enter the Bengaluru market. They recently acquired Dr. Meat, a brand owned by Sukos Foods based in Bengaluru. The deal is worth USD 3 million, and ZappFresh now fully owns Dr. Meat.
The company didn't say how much the deal was worth, but people who know about the market estimated it to be around $3 million. ZappFresh, the company making the acquisition, believes that buying Dr. Meat fits well with their plans to grow and their vision for the future.
ZappFresh wants to expand into new markets, and their first goal is to enter Bengaluru. Deepanshu Manchanda, the founder of ZappFresh, said that they are impressed by Dr. Meat's success in growing their business while remaining profitable. ZappFresh has also been profitable for the past 4 years. They expect to make Rs 70 crore in revenue within a year in Bengaluru alone, and their overall target for the 2023-24 fiscal year is to reach Rs 300 crore in total revenue.
ZappFresh is actively looking for more chances to grow, and acquiring Dr. Meat is just the start. They are currently discussing more acquisitions that will help their expansion and make them even more noticeable in the market.
As a direct-to-consumer (D2C) brand, ZappFresh has raised a lot of money from investors like SIDBI VC, Dabur Family Off, Letsventure, Keritsu Forum, and some big names from the food industry and tech world, according to the release.
