The Delhi-based IdeaChakki has bagged away an undisclosed amount from Mr. Ratan TATA. This startup provides a unique way in which the customer can order food. It provides digital video menu to the restaurants. Additionally, customers can also gift food and beverage experience all over the world. The company has also partnered with Enablers which is an investment bank for the next round of funding.
So, why exactly did Ratan TATA invest in the firm?
The funds which are raised by Ratan TATA will be used for expansion and building a team in-house for strengthening the technology. The business tycoon has been seen investing in a lot of startups like Snap deal, Urban Ladder, Bluestone, Cardekho, Ola, Xiaomi, CashKaro, FirstCry to name a few.
He is also coming together with Vijay Kelkar who is former finance secretary and Nandan Nilekani, the co-founder of Infosys and Aadhaar. They plan to start a microfinance company. Mr. TATA is also busy collecting a huge corpse of around $100-150 million in partnership with the University of California. Recently in May 2016, he has added a San Francisco-based medical startup called MUrgency Inc to the investment basket.
The founders of the startup are former NDTV executives who developed the idea in 2013. The team of 3 Noopur Tiwari, Gunjan Mehrish, and Monica Narula have over 20 years of tv experience. The company is targeting the premium restaurants in Delhi-NCR. The company wants to expand operations all over India and set up its first international office in Paris. The idea is the first of its kind and it will bring in a big change in the hospitality industry. With Ratan TATA onboard, it will attract a lot of investors all over.
The Director of Enablers, Neha Khanna said they have a certain criterion which decides which startups to bring on board. She mentioned that IdeaChakki has a very futuristic and it completely blends with Enablers.
Many food startups had received funding in 2015, but many closed shops as well. The new ones in the game are FreshMenu and Petoo.
How does the app work?
The app loads on the restaurant screen from where the guests can make choices as per their diet. It has a short video explaining the method of preparation, pronunciation and the origin of the dish. It helps the customers to navigate the menu and also see how the dish would look when it arrives. Looking forward to some exciting times in the restaurants in the near future