Hot On Plate: Food Startups See A Slew Of Investments, As India Spends More Outside

Hot On Plate: Food Startups See A Slew Of Investments, As India Spends More Outside

Some of these companies, that have received funding from investors are the likes of Pizza Wings, Wow Momo, Burger Singh and Boba Bhai.

Juviraj AnchilUpdated: Tuesday, March 12, 2024, 05:02 PM IST
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Representative Image | ANI Photo

The wave of investments in up and coming start-ups is blowing in a new direction now, after tech, primarily service driven avenues, it is now the turn of the food-oriented start-ups to make move and leave a mark.

A grand gust of investments has come of the direction of these modern-day entities. These investors also include High Net Worth individuals (HNIs). Some of these companies, that have received funding from investors are the likes of Pizza Wings, Wow Momo, Burger Singh and Boba Bhai.

Investment in 'food entities'

These investors see potential in the space, where these organization can grow. Gruhas, Turner Morrison, Titan Capital and Kazhanah Nasional Berhad are some of the names that have placed their bet on food. In this, Gruhas is a Mumbai-based venture capitalist, that has previously invested in other entities, including Licious, another food-related service. Gruhas invested in Pizza Wings, established in 2014, is a fresh dough pizzas, with multiple outlets through out the country. Then comes Wow Momo, another fast food chain, specializing in Momos.

These investments in budding fast food joints come at a time, when reports of consumption of packaged and junk food has seen a rise. As according to the All India Household Consumption Expenditure Survey, expenditure of Indian households on FMCG products along with other food products has seen a rise in their numbers.

The survey on consumption

According to the survey, while there has been a decline in food expenditure. Beverages and processed foods and the spending on the same appear to have seen a spike. The survey data indicates an increase in spending on beverages and processed foods by both urban and rural households.

Keeping this survey result as the base, one could decipher a pattern, which indicates the priorities of citizens when it comes to utilizing their resources, and what they chose to do with the said resources. Given the fact, that there is an apparent rise in expenditure products, that fall outside the direct purview of households (home-cooked food), it would not be inaccurate to detect a connection between this trend and the rise of the aforementioned fast-food chains, which satisfy the 'hunger' for quick-solution consumption, which may not always guarantee nourishment or nutrition.

In age of tech-driven facilities, where the likes of Zomato, Blinkit, Swiggy and other appeal to the masses and their needs of the changing time, these developments, in the sector are perhaps, part of a natural progression.

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