Redbasil will use the funds to expand its B2B sales team and ground operations while investing in advanced analytics and a new web-based platform to complement its existing apps
Mumbai, July, 24th, 2023: Mumbai Angels, a premium platform for private investments, has invested in Redbasil, an asset-light B2B marketplace for restaurants. The marketplace has a curated catalog of 10k+ ingredients and high-quality food suppliers that are vetted by leading chefs and kitchens. South Asia Tech Partners led the funding round. Redbasil will leverage the fresh capital to expand its B2B sales team and ground operations. The startup will also use the funds to invest in advanced analytics and a new web-based platform to complement its existing mobile apps.
Nandini Mansinghka, CEO of Mumbai Angels, said, “The F&B industry witnesses ever-growing demand. It’s also extremely competitive with thousands of vendors and third-party marketplaces. Redbasil has been able to carve a niche for itself in the space with its tech-based operational system and constant innovation. This funding is a testament to its efficiency and growth, and we are confident that the recent capital infusion will help the startup scale further and reach new heights.”
“As we press on to drive quality, transparency and price discovery for restaurants, and offer suppliers a full-featured digital storefront to grow their business, we are thankful to our existing investors for their continued trust in us. The funds raised will propel our growth further as we work towards our core mission of making India’s wholesale food supply reliable and convenient.” added Naman Dayal, Founder and CEO of Redbasil.
Redbasil’s previous funding round was in Apr’22, and the company has grown by more than 4X in the past 14 months. The startup is currently generating over 2.5 Cr. in monthly GMV and seeing growth of 20%+ month-on-month, with a focus on the emerging cloud kitchen market in India.