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Written by various collaborators within Team 100X.VC
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Jun 09, 2022
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  • The funding round was led by Mumbai Angels Network. The round also saw the participation of SAT Industries, Planb Capital and other investors. 

Mumbai, June 09, 2022

: Redbasil, a tech-driven, zero-inventory marketplace for wholesale food supply for restaurants and cloud kitchens, has raised $330k as part of their Seed round led by Mumbai Angels. The round also saw the participation of SAT Industries, Planb Capital and other investors.

The Gurugram-based Startup was founded in 2021 by Naman Dayal, Amit Khanchi and Shivank Shukla and is a 100X.VC Portfolio company. It is a  digital marketplace model that enables restaurants and cloud kitchens to supply high-quality food through its mobile app.  

Talking about the funding, Naman Dayal,Founder & CEO of Redbasil

said “Redbasil was founded with a simple idea – making wholesale food supply reliable and convenient. We found that the Indian food value chain faced multiple challenges like inconsistent quality, volatile pricing and delayed deliveries, creating a major gap in the system. Redbasil was conceptualised as a digital marketplace to address these challenges for commercial kitchen operations in India. We have received an incredible response from our customers. We’re delighted to be backed by marquee investors in our journey of building a robust ecosystem in the food value chain for restaurants and cloud kitchens. This funding will help us achieve our goal and reach greater heights.”

There is often a lack of communication among players in a food supply chain who are spread across India, resulting in food insecurity and public health concerns. This disproportionately impacts the most vulnerable members of society, such as low-income Individuals and small grocery stores and restaurants. Red Basil is solving the gaps in better food and beverages procurements and also helped customers to get the better quality of perishable products. 

Commenting on the announcement, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “We are confident that the latest infusion of capital will help the platform tap into the immense potential in the market, cater to more customers, and scale the business”.

Mr. Ninad Karpe, Partner at 100X.VC

,added “ As a first investor in Red Basil, we are delighted that the company has raised its next round of capital. We believe that Red Basil is solving a serious problem faced by the restaurants and cloud kitchens and with this capital, it has the potential for rapid growth”

The  tech driven B2B marketplace had raised a cheque from 100X.VC as part of the fund’s class 06 portfolio earlier in 2021. 

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