The Meat Chop, a Chennai-based startup that sources meat from nearby butcher shops and uses tech, raised Rs 7 crores in seed funding on Tuesday.
Mohan K, a co-founder of IppoPay; Ankur Agarwal, a co-founder of Dunzo; Meenakshi Sundaram, Jaikumar R, a co-founder of IppoPay; Rahul Mahipal, the founder of Capital Ventures, Omar Bin Brek, Founder & CEO Foloosi a UAE based FinTech, Amith D’Souza Google, and Other global angel investors took participation.
The startup plans to use this investment to grow and develop a team and improve the infrastructure of its technology & supply chain. Local butcher shops can provide superb customer service and successfully compete with major retail chains through in-store and online sales because of TMC’s data-driven and technology-backed solutions.
Appaas, Kalyan, Navas, and Yasar, four friends, founded it in January 2021. TMC manages purchasing, marketing, promotions, and merchandising for the butcher stores on its platform using technology and an SOP, allowing the store owners to concentrate on their best: cultivating relationships and providing excellent customer service.
Using an integrated tech stack platform, The Meat Chop seeks to address the low-margin, low-profit issue faced by the stakeholders in the crowded value chain.
The meat sourcing platform claims to have seen a 50% to 60% increase in sales volume while reducing dump by 90%. Although Zappfresh, Meatwale, TenderCuts, Fipola, Good To Go, Meatigo, Jagfresh, and Grubsoul only operate in a few cities, Licious and FreshToHome are two of the industry’s more significant players.