PlaceofOrigin.in, a leading online gourmet food marketplace announces its first round of funding through Axilor''s Scale-up funding program. Axilor Ventures, a new generation platform for supporting early stage entrepreneurs, was founded by Mr. S.D. Shibulal, Mr. Kris Gopalakrishnan, Mr. Srinath Batni, Professor Tarun Khanna and Mr. Ganapathy Venugopal. The investment will enable PlaceofOrigin.in scale up its technology platform, operations and marketing.
PlaceofOrigin.in is a curated marketplace that helps consumers discover and access specialty food products from across the country. In doing so, they enable traditional and new-age food producers acquire new and latent consumer markets across the country, thereby making their businesses more sustainable.
PlaceofOrigin.in allows foodies to discover authentic sweets, snacks, staples and health foods. Urban migrants who seek to discover authentic hometown flavours have access to their home flavours anywhere they go. The specialist e-commerce platform also helps traditional food producers, home producers, farms/ co-operatives market their products on a single digital platform outside their traditional marketplaces and create an online identity for them. The platform also enables them with logistical support.
“Through our , we have created a sustainable distribution stream for small producers and a platform of gourmet discovery for end-consumers. We are excited to work with Axilor and leverage their collective experience to create a sustainable enterprise. The investment will provide impetus to ramp up our vendor base and cover the native foods of all major regions,” say the trio, Ashish Nichani, Sudarsan Metla and Pradeep Ponnadi – the Co-Founders of PlaceofOrigin.in.
Ganapathy Venugopal, CEO of Axilor said, “The rapidly growing gourmet food industry provides a large market opportunity. The PlaceofOrigin.in team have demonstrated their market knowledge and have come up with the right market offering - an online one-stop-platform for connecting lovers of authentic and native food products to its original vendors."
PlaceofOrigin.in was among the first batch of start-ups participating in Axilor's Accelerator Program, which helps entrepreneurs in early stages of their idea to successfully validate their idea and launch.
The gourmet food retail industry through physical stores is estimated to be worth INR.15, 000 crore with a CAGR of 20%. This is largely satiated by imported products whereas consumers are now more discerning and supportive of local products. Sensing this, both traditional and modern Indian producers are spearheading a new movement by quickly adapting their products to the quality, packaging and compliance requirements of the new marketplace. With India's cultural diversity, local gourmet food is an engaging consumer business opportunity that is in the process of being unravelled online and the PlaceofOrigin.in is best positioned to do just that.
PlaceofOrigin.in is a curated marketplace connecting the producers of India's finest foods with their customers across India. Currently, the platform hosts over 50 iconic brands and over 500 products from 25 unique cities and towns across India. They deliver to 20 states of India covering all cities and many small towns where consumers yearn to access new products. Discover your favourite foods on www.PlaceofOrigin.in.
Axilor Ventures is a platform for supporting innovation and entrepreneurship. Through its programs which include Accelerator, Scale-up and Early Stage Funding, Axilor aims to support early stage entrepreneurs and improve their odds of success. More information about Axilor and its programs can be found at http://www.axilor.com