Stride Ventures invests Rs30cr debt funding in TenderCuts

Stride Ventures, a leading venture capital fund, today announced INR 30 crore funding in a fresh meat and seafood ordering technology platform, TenderCuts. This investment aims to support TenderCuts in its plans for growth and expansion in 8 cities by early 2022.

This is the company’s 43rd portfolio investment in the two funds as it continues to play a strategic role in the growth stories of new era companies.

Launched in 2015, TenderCuts is a platform for ordering fresh meat and seafood – chicken, mutton, seafood and eggs. The company also offers a range of ready-to-eat and ready-to-cook products including sausages, kebabs, shawarmas, pickles, etc. Through its omnichannel distribution strategy, TenderCuts currently serves customers in Chennai, Hyderabad and Bangalore through its 50 omnichannel stores. The company launched a “freshly cut meat” campaign in November, telling how the meat was only cut after the customer placed the order. The campaign was a huge success, attracting positive attention from retail customers.

Speaking on this development, Stride Ventures Partner Apoorva Sharma said, “TenderCuts has plans to expand its pan-India reach and we are excited to partner with them on their growth journey. This is a very fragmented market where the customer experience is inconsistent. TenderCuts’ omnichannel distribution strategy allows it to maintain a low turnover rate and provide high-quality fresh-cut meat. »

Nishanth Chandran, Founder and CEO of TenderCuts, said, “TenderCuts is the largest omnichannel curated meat brand. Our apprenticeships in the South will help us expand quickly to other cities in India. We already have 50 stores and will expand to 8 cities in 2022. Stride is the right investment partner for us given their strategic focus. We are pleased to partner with Stride as both companies are aligned with the future of consumer technology and organized retail.

Since its inception, Stride Ventures has focused on investing in market leaders across all industries. Having been one of the most active venture debt companies this year, total commitments exceeded INR 1,000 crore in the portfolio companies of its two debt funds.

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