Hyderabad: Hello Curry, the city-based quick service restaurant chain, has acquired ‘The First Meal’ a food delivery startup that takes pre-orders from customers through its subscription platform. The terms of the deal remain undisclosed, but comprise both cash and stock.
This acquisition is expected to help Hello Curry to penetrate into the breakfast and meal box segments through the subscription framework through which The First Meal offers various customised food packages to customers with time frames ranging from one week and up to a month.
“While there is a churn in the food delivery industry, we are well-poised for huge growth due to the strategic decisions we have already made and our strong commitment to delivering high quality, healthy food. In a market place that has no entry barriers, we think of ourselves as a long distance runner,” said Raju Bhupati, CEO, Hello Curry. With The First Meal acquisition, Hello Curry is looking to achieve delivery of 5,000 meals per day within in the next six months, he added.
Started in the middle of 2015 by entrepreneurs Yuv Raj Poosarla, Saswata De and Suraj Subedi along with Ravi Varma and Sathvik Ponangi, with help from mentor Joginder Tanikella, The First Meal has become rapidly popular in the breakfast segment and acquired a huge loyal customer base. It serves 5 types of diet balanced items for breakfast and daily changing nutritious lunches (meal boxes) and reaches upwards of 10,000 boxes monthly.
Funding: Last month, Hello Curry had raised $1.5 million in bridge funding led by Sashi Reddi and an undisclosed High Net Worth Individual. At that time, the company said that it will use new capital to upgrade its current menu, and delivery mechanisms, and to open new stores in Pune, Visakhapatnam and Vijayawada.
IRCTC tie up: In November last year, Hello Curry tied up with the Indian Railway Catering and Tourism Corporation (IRCTC) to provide meal options for railway passengers during their journeys, starting with the Secunderabad station. At that time, Hello Curry’s menu was planned to be offered for passengers in Delhi, Bangalore, Vizag and Pune.