Zappfresh plans on raising $5 million
According to reports, Gurugram-based DSM Fresh Foods Pvt. Ltd run online meat store, Zappfresh is looking to raise $5 million. Allegedly, Dabur India Ltd vice-chairman Amit Burman is one of the investors, who have shown interest. Zappfresh, which focuses on fresh meat and ready-to-cook products, was co-founded by chief executive Deepanshu Manchanda. He had previously worked in the mobile wallet firm MobiKwik. Here's more.
Zappfresh provides an end-to-end cold chain supply to its consumers in partnership with poultry farms, cutting out the local mandis, wholesalers and butcher shops from the middle. Although DSM didn't respond to email queries, Burman, who is responsible for driving business strategy, development and communications at Dabur Foods said, via email, "We are evaluating it but there is no decision yet on the investment."
The timeline is brewing!