B2B startup Badhaan based in Hyderabad announced on Thursday that it had received an undisclosed sum in seed funding from the angel investor network iAngels of India Accelerator.
A number of high-net-worth people and industry veterans including Pramod Veturi, Sivaram Vallampati, and Anand Mahadevan, among others also took part in the round.
According to a source familiar with the situation, the sale size was estimated at Rs 1 crore.
The additional money will be used for platform development, commercial expansion, and the introduction of private-label brands.
Badhaan is a platform that provides restaurants with raw material procurement and inventory management services. It was founded in 2021 by Vishnu Vikyath G and Manoj Mareedu.
The business asserted that it has served more than 100 consumers and more than 1,000 orders. It currently provides services throughout Chennai and Hyderabad and by the end of the 2023 fiscal year, it hopes to add two additional cities.
Badhaan enhances the cash flow, inventory position, and bottom line of a restaurant/cloud kitchen. According to Vikyath G, “Our mission has always been to financially empower company, and that is what produces true value in B2B marketplaces”.
A restaurant’s cost structure includes 35% for the purchase of raw materials, which comes with a number of difficulties such as managing SKUs, maintaining consistency in quality and delivery, and managing cash flow. The market is ripe for disruption by a data-driven platform, and Badhaan is accomplishing just that, according to Munish Bhatia, co-founder of India Accelerator.
According to a report by venture capital firm Kalaari Capital, improvements in mobile internet penetration, technological advancements, creative founders, the adoption of newer supply chains, and the government’s focus on farm-reforms all contributed to the agritech industry’s total investments growing four times in 2021–22.