New Delhi DSM Fresh Foods Pvt Ltd, which runs online fresh fish and meat retailer, reported 25% growth in revenue and interest, tax, depreciation and amortization (Ebitda) losses in the recently ended financial year despite the pandemic. Reduced his earnings before. A major change in business operations.
revenue increased to approx. 70 crores in the year ended 31st March 50 crore in FY2011, which was marked by flat revenue growth, Chief Executive Officer Deepanshu Manchanda said, Zapfresh. Manchanda said the revenue growth came despite the total closure of its business-to-business (B2B) vertical, which previously contributed about 35% of its revenue.
Earn Zappfresh b2b revenue From hotels and restaurants, but at the start of the COVID-19 pandemic in 2020, businesses were forced to close. “So despite being flat in FY 2020-21, the entire revenue came from our B2C business and all our direct-to-consumer (D2C) sales,” Manchanda said. The Gurugram-based company’s EBITDA loss narrowed to approx. 2 crore in FY22 after expanding 12 crore in FY21 from 9 crore in 2019-20.
Founded in 2015 by Manchanda and Shruti Gochwal, ZapFresh aims to achieve a break in this financial year as well.
“We are following a low burn, high profit format,” said Manchanda, who worked at digital wallet provider MobiKwik before co-founding Zappfresh.
The company is also in the market for a Series C funding round of approximately $10 million. “We are currently in talks with domestic private equity and venture capital firms as well” domestic corporate For minority investment,” Manchanda said.
This money will be used to enter the markets of South and West India. He added that the company currently operates only in the National Capital Region (NCR) and places 4,000 orders daily.
According to VCCircle’s data and intelligence platform VCCEdge, Zappfresh has raised less than $10 million in funding so far. It last raised around $3 million in 2019 from India Opportunity Fund, which is managed by SIDBI Venture Capital Ltd. In 2018, Amit Burman, Vice President of Dabur India Limited, led a funding round, which was also participated by SIDBI Venture Capital.
joseph.rai@livemint.com