Mumbai, Feb 8 (FN Agency) TenderCuts, India’s only truly omnichannel meat & seafood brand on Monday said that they have raised Rs 110 crore (USD 15 million) in a round led by Paragon Partners, a mid-market PE fund founded by Siddharth Parekh and Sumeet Nindrajog with participation from NABVENTURES, a leading agri-food tech VC fund backed by NABARD. The funding will allow TenderCuts to expand its current operations and pursue organic and inorganic growth opportunities. The funds will also allow the company to invest in scaling up its supply chain and technology infrastructure to support innovation and accessibility of its products and services.
Founded in 2016 by Nishanth Chandran, TenderCuts is revolutionising the way meat and seafood is sold in India. TenderCuts provides freshly cut meat and seafood to customers through their unique neighborhood stores which cater not only to walk-in customers, but also online shoppers. Stringent focus on quality ensures that customers get the most hygienic and tastiest meat. Besides, TenderCuts is the only branded meat company offering the freshest meat to consumers – either in stores or delivered to their doorstep within 2 hours of it first being cut. Today, TenderCuts has 25 stores across Chennai and Hyderabad which cater to walk-in and online customers. The company’s core product portfolio includes fresh chicken, mutton, seafood, marinades, pickles, and eggs. Besides, the company also has an expansive ready-to-eat and ready-to-cook product range comprising cold cuts, sausages, kebabs, shawarmas, etc. Nishanth Chandran, Founder, and CEO, TenderCuts, commented, “It is heartening to see TenderCuts become a market leader in the cities it operates in after it has managed to transform the way fresh meat and seafood is sold in these markets.
It is an affirmation of the unique omnichannel and seamless supply chain model in the sector. ‘’This investment will pave the way for us to enter new markets and further establish our omnichannel network. We are delighted to partner with Paragon Partners and NABVENTURES and look forward to tapping into their significant experience in growing consumer businesses in the retail, agri, food & beverage, and e-commerce sectors,’’ he said.