angel
FUNDING

Foodtech startup NativeSpecial raises angel investments

NativeSpecial is a foodtech startup based in Chennai. The startup has managed to raise angel funding from the Madurai – based Native Angels Network (NAN) and Indian Angel Network (IAN). Nagaraja Prakasam of IAN led this round of funding. Read more on Investments

Baskaran Veluchamy, founder & CEO of Native Special said, “Due to the positive response garnered during the trial execution of the sale last festival season among South Indian NRIs in the US, the company has sensed a huge market potential among them and has already started working on tapping the same”.

NativeSpecial sells traditional snacks & sweets (native to Tamil Nadu) through its website and online payment gateway, across India. The startup will use the funds secured to upgrade its laboratory facilities and to expand its presence to new markets.

Anand Thangaraj, the lead investor from Native Angels Network said, “NativeSpecial is a unique attempt in a way that will revive the vanishing traditional cottage sector and, thereby, contributing to the rural economy. Furthermore, it has a huge market potential with its ability to deliver on a pan-India basis”.

NativeSpecial has a ‘stock-and-sale’ model. The company targets the migrated South Indian population, foreign travellers, gift givers, food lovers and corporate clients. The Company’s portal has over 42 sweets and snacks items with about 20 vendors being employed by the company. The company has over 7,500 registered users on its portal and 6,900 food orders have been executed so far.

It is heartening to see an Indian foodtech startup get funded at a time when a lot of foodtech startups in India are shutting down their operations. Indians are almost all over the globe and they are very attached to their traditional food items. An Indian restaurant in almost any country is sure to get business from the immigrated South Indians or North Indians. That being the case, we can almost bet that the food startup NativeSpecial will grow to become an MNC. The Indian government must fund, promote and incubate more of such useful startups. Read more on Startup News

Want to be a guest author? Register Here to share your business knowledge with our readers.

Foodtech startup NativeSpecial raises angel investments
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

INDIAN CEO provides latest business news about Indian CEOs, startups, business, funding, founders, new ideas, technology, apps, gadgets

Stay tuned to get latest updates on startup business in India and listen right from heart of Indian CEOs.

Partner

AWS Activate Partner

Subscribe for Insider Updates

Get Stories delivered to your Inbox

Copyright © 2015 INDIAN CEO. A Indian business news magazine

To Top