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Kolkata-based startup tastes2plate nears INR 30-40 Crore Series A funding to revolutionize intercity food delivery market

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tastes2plate.com
tastes2plate.com

Kolkata-based intercity cooked food delivery startup, tastes2plate.com, is close to securing INR 30-40 crore in Series A venture funding. The company aims to fuel exponential growth in the online food delivery market, which holds the potential to reach $3-5 billion within the next few years, according to an official statement.

Led by IT professional Gyan Srivastava, the bootstrapped startup invested over three years to stabilize its business model through extensive innovation in packaging and logistics.

This allowed the company to become the lowest-cost player in the industry, he said.

“We are very close to raising INR 30-40 crore in Series A funding,” said Srivastava, CEO of tastes2plate (T2P) owned by Charabuni Services.

The company aims to utilize the funds primarily for capacity building in marketing, information technology, and logistics infrastructure, as stated by him.

“The funding will help us achieve 30-40 per cent month-on-month growth in the number of deliveries compared to our current volume.

“While the total online food delivery business is $19.6 billion with a CAGR of 20 per cent, the intercity delivery segment is still nascent but growing exponentially. Currently, we average over 35,000 deliveries per month,” Srivastava said.

Continue Exploring: Indian food delivery market grows by 10% sequentially in Q3: UBS report

Picked food is packed from one city and shipped to another, ensuring freshness upon delivery within 12 to 24 hours, as explained by the official.

Regarding competition, Srivastava claimed, “Currently, one other app operates in this domain, but another dominant online food delivery app is not consistently active in the market. We are the only company focused purely on intercity food delivery.”

He asserted that tastes2plate, currently operational in approximately 20 major cities, provides customers with the most economical overall food delivery cost.

“This was possible only through innovative packaging that meets Indian Institute of Packaging standards,” Srivastava stated.

On the T2P platform, customers typically pay an average of INR 120 per kilogram, plus packaging, for orders from participating restaurants. For customized deliveries, the rate is INR 210 per kilogram, inclusive of packaging costs.

Interestingly, there is also a growing demand for delivering home-cooked food to loved ones in other cities, he noted.

Continue Exploring: Tata Neu joins online food delivery race through ONDC integration, posing competition to Zomato and Swiggy

“Apart from the increasing trend of ordering delicacies from other cities, trial deliveries of home-cooked food for relatives and friends have seen good traction. This is why we are launching this service as a full-fledged offering,” Srivastava said.

Currently, it is offering its services in cities such as Kolkata, Patna, Lucknow, Delhi, Gurgaon, Noida, Jaipur, Amritsar, Mumbai, Hyderabad, Bangalore, Kochi and Goa.

The company’s plan is to expand its service to Ahmedabad, Chennai, Kanpur, Ludhiana, and Guwahati within the next 30 to 45 days.

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Ginger Hotels to spearhead IHCL’s aggressive expansion plan, anticipates surge in new business revenue

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Ginger Hotel
Ginger Hotel

Ginger Hotels, the value brand of Indian Hotel Company (IHCL), will lead the growth of new businesses as it embarks on an aggressive expansion plan, including establishing a presence in all the 800-odd district headquarters in the country, a top executive said.

Deepika Rao, Executive Vice President for New Businesses and Hotel Openings at IHCL, anticipates substantial growth for TajSATS, its airline catering business. This growth is projected to contribute significantly, causing the share of new businesses in IHCL’s top line to more than double to 25% over the next few years from the current 11% in the December quarter.

“These two will lead the growth momentum both in terms of revenue and profitability,” she stated.

Continue Exploring: IHCL’s Ginger brand expands portfolio with larger hotels as demand grows

Other new ventures of IHCL include the food delivery service Qmin, the membership-based business club Chambers, and Ama Stays & Trails, a collection of cottages, bungalows, and villas.

Taj SATS is projected to achieve a revenue of INR 1,000 crore in FY25, compared to INR 650 crore in the 12 months ending January. While airlines will remain the primary focus, Qmin has the potential to serve as a brand for TajSATS’ institutional catering, she noted.

Over the last four to five years, TajSATS has branched out into non-airline ventures, entering the quick service restaurant arena with Starbucks and Chayos as its patrons.

Rao mentioned that with Starbucks nearing 1,000 outlets nationwide, TajSATS will likewise expand its operations as the coffee giant continues to grow.

Regarding Ginger Hotels’ expansion strategy, she stated that the chain currently operates 63 hotels with an additional 27 in development. Under the company’s strategic vision, Ahvaan, Ginger aims to achieve a portfolio of 125 hotels by FY26. This expansion follows an asset-light model, where larger projects with over 300 rooms typically operate under management contracts, while smaller ones with up to 80 rooms are leased for up to 30 years. Approximately 30% of Ginger hotels are managed, while the remaining properties are either owned or leased.

“If there’s one brand in the IHCL portfolio that can travel across the length and breadth of the country with the right size, it’s Ginger,” Rao said.

Competing with InterContinental Hotel Group’s Holiday Inn Express and Accor Group’s Ibis, the hotel brand owned by IHCL subsidiary Roots Corp maintains an average daily room rate of INR 6,500.

The number of rooms in Ginger hotels varies from 80 to over 300, depending on the specific micro-market where they are located.

Continue Exploring: IHCL accelerates portfolio expansion, aims for 300 hotels in the next 3-4 months

In early 2019, Roots Corp repositioned Ginger as a ‘lean luxe’ brand, transitioning it from an economy-oriented identity to a lifestyle-focused one.

The move has paid off.

Ginger Hotels’ revenue surged to INR 336 crore in the nine months of FY24 ending in December, up from INR 238 crore for the entire FY20. Similarly, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to INR 123 crore from INR 55 crore during the corresponding period.

Rao conveyed confidence in the hotel chain’s ability to sustain its 30% revenue growth rate. She noted that nearly two-thirds of the portfolio has already transitioned into lean luxe, with the remainder expected to be completed by the end of the next fiscal year.

“Whenever we have converted from the old avatar to the new re-imagined one, we have seen an uplift in the rate by at least 30%.”

The in-sourcing of food and beverage (F&B) has also contributed to revenue growth and improved the customer experience. The all-day dining restaurants in Ginger have been rebranded as Qmin.

“The new business has started stitching together,” Rao said. “Almost 50-55% of the Rs 100-crore of GMV (gross merchandise value) which Qmin is expected to have by end of the year, will now come from Ginger Hotels.”

She added that as Ginger expands, Qmin will also reap the benefits, with an anticipated growth of at least 20%.

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Mamaearth parent Honasa Consumer’s shares rally 10% on strong Q3 earnings

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Mamaearth Honasa Consumer

Shares of Honasa Consumer, the owner and operator of Mamaearth, saw a nearly 10% jump to reach the day’s high of INR 475 on the NSE on Monday. This surge came after the company reported a 265% year-on-year (YoY) growth in its consolidated net profit to INR 26 crore for the quarter ended December, up from INR 7.1 crore in the year-ago period.

Around 9:50 am, the NSE saw trading of over 18.53 lakh shares, with the total value of shares traded standing at INR 85.07 crore.

Continue Exploring: Mamaearth parent Honasa Consumer sees 250% YoY surge in net profit to INR 26.1 Crore in Q3FY24

In the third quarter, revenue from operations witnessed a 28% year-on-year (YoY) increase, reaching INR 488 crore, up from INR 382 crore recorded in the corresponding quarter of the previous year.

In the reporting quarter, consolidated EBITDA surged by 192% year-on-year (YoY) to INR 34.5 crore, with margins experiencing a YoY improvement of 397 basis points to 7.1%.

During the quarter, the company successfully established and expanded into new categories such as Mamaearth color cosmetics, which now boasts an annual recurring revenue (ARR) exceeding 150r+. Additionally, Mamaearth achieved remarkable growth in household penetration for facewash by 280 basis points and for shampoo by 110 basis points over the span of two years.

Younger brands continue their growth trajectory, with The Derma Co achieving EBITDA profitability. Additionally, approximately 122 new products were launched in CY23.

Continue Exploring: Nuvama analysts bullish on Mamaearth for MSCI Smallcap Index, Nykaa gaining momentum for Global Standard Index

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Consumer goods giants double down on India investments despite downturn, banking on demand resurgence

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Consumer goods
(Representative Image)

Several major consumer goods corporations such as Nestle, Dabur, Coca-Cola, Mondelez, and Procter & Gamble are planning significant investments in India to expand production capacity and promote higher-end products, despite a prevailing downturn in demand, especially for mainstream products.

Several of these companies are increasing their investments significantly, driven by optimism for a demand resurgence in the upcoming fiscal year.

“We are investing 7-8% of our turnover on capex, which is much higher than it ever was,” Nestle chairman Suresh Narayanan said.

“Despite stress points in demand, there’s a wealth effect phenomenon that is taking place. Stock markets have been booming and those at upper middle class and middle class, they feel good about what they are buying,” he said. “Food inflation is hurting but we are hopeful that once inflation abates, things will be better,” Narayanan added.

The manufacturer of Maggi noodles and Nescafe coffee has committed investments of INR 6,500 crore into the Indian market by 2025, covering a five-year window.

Two weeks ago, Dabur revealed its second-largest capital expenditure in India, totaling INR 135 crore, for establishing a greenfield plant in South India.

Continue Exploring: Dabur announces INR 135 Crore investment for new greenfield facility in South India

“We expect the demand situation to improve as we enter the new financial year; we are looking at both urban and rural markets to drive growth,” Dabur’s chief executive Mohit Malhotra said.

He mentioned that the new facility will cater to rural distribution, innovation, premiumization, and the increasing demand in the southern region, representing 18-20% of the company’s annual domestic sales.

While the demand for mainstream products has been lackluster, demand for premium categories, particularly in urban markets, has remained stable.

According to a report released last Tuesday by research firm NielsenIQ, the FMCG sector’s value growth, which experienced two years of growth, is expected to decrease by half to 4.5-6.5% this year, compared to 9.3% in 2023 and 8.4% in 2022. This decline is attributed to factors such as inconsistent rains, an extended rural slowdown, and food inflation, resulting in a slowdown in sales across consumer staples and daily essentials.

Continue Exploring: NielsenIQ forecasts 4.5-6.5% growth for FMCG sector in FY24; volume surges by 6.4% in Q4 2023 as urban-rural gap narrows

During the October-December 2023 quarter, the FMCG industry witnessed a 6% year-on-year increase in value and a 6.4% rise in volumes. However, sequentially, both value and volumes experienced a decline throughout the quarter, as reported by NielsenIQ.

The industry is banking on a revival in the new fiscal year, anticipating an increase in mainstream volume and value growth, supported by the injection of incomes into the economy. This optimism is bolstered by factors such as the upcoming general elections, a push in capital expenditure, and the stabilization of commodity prices.

Continue Exploring: FMCG firms optimistic about rural recovery amid macroeconomic improvements

Hindustan Coca-Cola Beverages (HCCB), the bottling partner of Coca-Cola, has revealed plans to invest INR 3,000 crore in Gujarat to produce juices and aerated drinks. The new capacity is expected to become operational by 2026.

Procter & Gamble and Mondelez’s investments of INR 2,000 crore and INR 4,000 crore, respectively, in new plants are progressing as planned and are slated to be operational in the coming years.

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Zomato ramps up restaurant listings amidst sluggish spending trends

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Zomato
Zomato

Last week, Zomato highlighted that the increase in restaurant listings on its platform significantly fueled the 27% year-on-year growth in the gross order value (GOV) of its food delivery segment. This is noteworthy given the company’s observation of a broader slowdown in discretionary spending.

An analysis of Zomato’s total count of food-delivery restaurant partners throughout the past eight quarters reveals a notable increase in the Gurugram-based company’s efforts to onboard new restaurants onto its platform.

The rate of restaurant additions has shown improvement sequentially, rebounding from a decline of -0.5% in October-December 2022, compared to a growth of 7% in the three-month period ending December 2021, and returning to nearly 7% in the third quarter of FY24.

In a post-earnings analyst call on Thursday, Zomato’s Chief Financial Officer, Akshant Goyal, pointed out that a significant portion of new restaurants added to the platform were cloud kitchens.

As of December 31, the company had 254,000 restaurant partners, marking an increase from 238,000 on September 30.

Continue Exploring: Zomato bolsters operations with its largest warehouse yet in India, secures prime space in Bengaluru’s Sumadhura Logistics Park

In Zomato’s quarterly shareholder letter, Rakesh Ranjan, the CEO of the food-delivery division, observed that the demand environment for the broader restaurant industry was subdued during the December quarter.

“Hence, food delivery GOV growth (at 6.3% QoQ /27% YoY) was lower than our expectations but still higher than some of the other players in the restaurant industry space,” he said.

For the quarter, Zomato reported a food-delivery GOV of INR 8,486 crore.

“One of the things driving the growth of our food delivery business is the fact that our platform is still underserved from a supply standpoint. The monthly active restaurant base on our platform has grown by 20%+ YoY in Q3FY24. This growth is driven both by new restaurants opening up and our coverage of existing restaurants increasing,” Ranjan added.

According to people familiar with the situation, the company has allocated additional resources towards onboarding restaurants that are not currently on Zomato’s platform.

“The company is also spending on hiring account managers, particularly in tier-II and tier-III towns, to keep up with the growth story of food delivery,” one of the people said. “The pace of adding restaurants will continue steadily,” he added.

Another person familiar with the matter mentioned that internally, Zomato tracks the contribution of restaurants to its order volume based on the Pareto principle, which suggests that a significant portion of outcomes is influenced by a small number of factors.

Continue Exploring: Zomato’s strong Q3 performance spurs brokerage firms to boost price targets; Blinkit expansion drives optimism

“Currently, a certain share of volume is coming from 40% of the restaurants but 18-24 months ago, the same share of order volumes was coming from 30% of the restaurants…so the graph is getting flatter. One way to look at it is that the dependence on the top 30% of the restaurant partners is decreasing…but the other way is that smaller and newer restaurants are gaining volumes much faster than those on the top of the deck,” this person said.

Zomato did not respond to the inquiries sent via email.

Another person familiar with the matter mentioned that while restaurant additions will keep pushing up growth for the company in the near term, the long-term growth will remain dependent on the company’s ability to generate demand, which is the primary growth driver.

During the post-earnings call on Thursday, Zomato’s CFO hinted at the same notion.

“At an absolute level, I would perhaps say that demand is a bigger factor going forward than supply (for growth) at an overall long-term level,” Goyal said.

The company posted its third consecutive quarterly profit of INR 138 crore for the October-December period, marking a notable increase from a profit of INR 36 crore in the September quarter and a loss of INR 347 crore in the three-month period that ended in December 2022.

Continue Exploring: Zomato reports third consecutive profitable quarter with INR 138 Cr PAT in Q3 FY24

Zomato’s consolidated operating revenue experienced a 69% year-on-year growth, reaching INR 3,288 crore.

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Hershey to streamline operations with automation, job cuts likely

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Hershey
Hershey

US-based confectionery giant Hershey has announced a restructuring plan that includes reducing its workforce to drive productivity through process automation.

The owner of the Reese’s brand has not disclosed the exact number of job losses. However, they stated in a release that the layoffs will affect “less than 5% of its workforce.”

As per the food giant’s statement, the decision aims to reduce expenses associated with the supply chain and manufacturing, optimize costs, and utilize new technology and business strategies to automate processes, ultimately yielding long-term savings.

Hershey stated that it anticipates minimal disruption to its employee base from the move.

“We are focused on leveraging investments we are making in technology to drive automation and the scale across multiple categories – confection, salty snacks”, the chocolate producer said.

Continue Exploring: Planet A Foods raises $15.4M in Series A funding to expand global reach of innovative cocoa-free chocolate, ChoViva

“Examples of this would be driving greater efficiencies and connectivity through shared services, enabling better forecasting and responding to changes in the marketplace more quickly to better meet consumer needs.”

The two-year plan, ending in 2026, is expected to generate $300 million in “ongoing annual savings.

Hershey stated that the redundancies will lead to severance expenses ranging between $45 million and $60 million.

Last August, Hershey announced plans to shut down a US facility that produces Dot’s Homestyle Pretzels.

The US confectionery major announced that its Velva factory in North Dakota will no longer be operational as the company strives to enhance efficiency for its pretzel brand.

In Q4 of 2023, Hershey experienced a 0.2% year-on-year increase in net sales to $2.65 billion. However, its net income of $349 million decreased by 11.5%.

Continue Exploring: DS Group boosts portfolio with acquisition of LuvIt Chocolate brand, solidifying market position

Michele Buck, Hershey’s CEO, said, “We continue to operate in a dynamic environment but we are encouraged by the resilience of seasonal traditions and the consumer response to innovation within our categories.

“While historic cocoa prices are expected to limit earnings growth this year, we believe our strong marketing plans, innovation and brand investments will drive top-line growth and meet consumers’ evolving needs. We are elevating our focus on productivity and transformation to strengthen our business and deliver peer leading performance over the long term.”

Hershey stated that it anticipates a 2% to 3% growth in net sales for 2024.

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Energy drink brand Odyssey secures $6 Million in funding round

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SnackTeam
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Odyssey
Odyssey

Odyssey, a functional mushroom-infused energy drink brand, has successfully concluded a $6 million funding round.

The company stated that reaching this financial milestone marks a significant turning point in the brand’s growth, highlighting an increasing endorsement of its unique combination of vitality and cognitive enhancement.

The funding round saw Richard Laver from Rocket Beverage Group joining as an investor, along with continued support from existing stakeholders, contributing 50% of the total raised amount.

Continue Exploring: Radiohead Brands makes a bold move into energy drinks market with Hustle

Odyssey’s beverages are crafted with adaptogenic elements such as lion’s mane and cordyceps mushrooms, engineered to provide an energy uplift while enhancing cognitive clarity, focus, and mood.

Odyssey intends to utilize the recently obtained capital to bolster three vital areas during its swift expansion: sales, marketing, and inventory. These investments are anticipated to accelerate the brand’s growth, enhancing accessibility to its products on a broader scale.

Scott Frohman, Founder and CEO of Odyssey, stated, “Unlike other brands on the market, we’ve formulated Odyssey to support cognitive energy and prioritise aspects like focus, clarity and mood through a proprietary functional mushroom-based formula. Odyssey leverages the high potency extract of Lions Mane, Cordyceps, L-Theanine, Ginseng and green tea caffeine to not only minimise the jitters associated with traditional energy drinks but also deliver sustained, crash-free energy support.”

Continue Exploring: Craft beer producer Sprecher Brewing makes bold move into energy drinks with Juvee acquisition

Odyssey offers three product lines: Odyssey Mushroom Elixir, the flagship beverage; Odyssey 222, containing 222mg of caffeine; and Odyssey Revive, formulated with electrolytes, magnesium, zinc, and vitamin C in place of caffeine and stimulants.

Each product line is free from added sugar, preservatives, artificial flavors, or sweeteners. The brand strictly follows vegan, non-GMO, and kosher standards. Each flavor incorporates the brand’s functional mushroom blend. Odyssey’s assortment is accessible in chosen US retailers.

Continue Exploring: Govt eyes stricter regulations as energy drink consumption surges among teens and athletes

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McDonald’s achieves 100% cage-free egg sourcing goal for US operations ahead of schedule

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McDonald's
McDonald's

McDonald’s has announced that it has successfully reached its goal of sourcing 100% cage-free eggs for its US operations, two years ahead of its 2025 target date.

In 2015, the fast-food giant made the decision to transition to cage-free eggs, a move that necessitated substantial collaboration and innovation within the industry.

In 2023, McDonald’s US System, which includes the company, its franchisees, and suppliers, procured almost two billion eggs.

The successful establishment of a cage-free egg supply on such a vast scale was made possible through the support of key partners.

The key partners, including Cargill and their egg producers such as Minnesota-based fourth-generation family business Forsman Farms, were instrumental in making the creation of the required supply possible.

Continue Exploring: McDonald’s China and Cainiao collaborate to optimize supply chain efficiency

McDonald’s also partnered with animal welfare experts and academics to facilitate the transition.

These partnerships played a crucial role in aiding egg producers with farm construction and renovation, as well as in the adoption of new technologies tailored to meet the cage-free standard.

McDonald’s senior vice-president North America and chief supply chain officer Bob Stewart said, “Our journey to move to sourcing 100% cage-free eggs in the US was a huge undertaking — made uniquely possible by our owner/operators, Cargill and their egg producers, and our supply chain working together as one team.

“I am incredibly proud of what we achieved together and the positive impact we will continue to make on the path toward a more sustainable future.”

In January 2024, McDonald’s reported robust financial results for the fourth quarter of 2023, marked by a significant rise in net income and consolidated revenues.

For the fourth quarter ending on December 31, 2023, the company’s net income reached $2.03 billion, indicating a 7% rise from the $1.90 billion reported a year previously.

The fast-food giant’s diluted earnings per share also climbed by 8% compared to 2022, standing at $2.80.

Continue Exploring: McDonald’s Q4 results show 3.4% sales growth amidst challenges, West Asia boycotts impact performance

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Coca-Cola to debut exclusive flavor on TikTok, setting a new trend in beverage marketing

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Coca-Cola
Happy Tears Zero Sugar

Coca-Cola is gearing up to launch “Happy Tears Zero Sugar,” a limited-edition drink exclusively available via TikTok‘s burgeoning e-commerce hub, TikTok Shop.

The global soft drink company’s venture into TikTok Shop represents a notable stride, aiming to directly engage users within the app’s ecosystem.

Happy Tears Zero Sugar, drawing inspiration from the purity of tears of joy, combines the familiar cola flavor with a hint of salty minerals, providing a distinctive sensory journey.

According to Oana Vlad, senior director for global strategy at Coca-Cola, the beverage embodies “the simplicity of happy tears — a small, clear droplet filled with optimism and joy that’s created from the smallest acts of kindness.”

Happy Tears Zero Sugar will officially release on February 17, coinciding with “Random Acts of Kindness Day.” The drink will be showcased in a specially curated “hype box” and will be priced at $9.99.

Continue Exploring: Coca-Cola’s Minute Maid diversifies portfolio: Enters alcohol market with innovative cocktails

Contained within each box are two cans of the limited-edition soda, accompanied by a T-shirt and stickers adorned with uplifting phrases such as #HappyTears and “Drops of Joy.”

The exclusivity of the product is underscored by its limited inventory, with only 15,500 cans available for purchase.

Coca-Cola’s marketing approach for Happy Tears Zero Sugar heavily relies on partnerships with influencers, with plans for 14 TikTok influencers to endorse the product.

These influencers will not only attract attention to the release but also motivate users to interact with a Happy Tears TikTok filter crafted to ignite acts of kindness. As Vlad emphasizes, “It’s all about spreading positivity.”

Continue Exploring: Coca-Cola renews global partnership with ICC, securing exclusive non-alcoholic beverage rights until 2031

The Happy Tears campaign, crafted by Forpeople, Influential, Virtue, and WPP Open X/Ogilvy PR, is integrated into Coca-Cola’s Creations platform, designed to spark dialogue and interaction among young audiences.

Interestingly, the launch of Happy Tears Zero Sugar takes place just days before Coca-Cola introduces its latest flagship beverage: Coca-Cola Spiced.

The beverage marks the first permanent addition to the company’s product lineup in three years.

As per Forbes, Coca-Cola Spiced presents a subtle twist with a hint of raspberry, steering clear of an overwhelming heat in its flavor profile.

Shakir Moin, Coca-Cola’s marketing chief for North America, highlighted the company’s adaptation to changing consumer preferences.

“If you go to the aisles, you’ll see the amount of spiciness has gone up because consumers’ taste palettes have evolved. We realized that could be an opportunity for us,” Moin shared.

“Can we dial up something which is already part of our formula and bring in a taste profile that is interesting, unique, and brings in the next generation of consumers?” he added.

This initiative aligns with Coca-Cola’s overarching strategy to captivate younger consumers through inventive flavors. In 2022, the introduction of Coca-Cola Creations unveiled eight limited-edition Coke variants, showcasing notes of coconut, strawberry, watermelon, and more.

Continue Exploring: Coca-Cola trials labelless Sprite bottles in UK as a step towards eco-friendly packaging

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North India’s first ‘Pizza ATM’ debuts at Chandigarh’s scenic Sukhna Lake

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Pizza ATM
Pizza ATM

Sukhna Lake, a serene oasis sprawling across 3 square kilometers and embedded into Chandigarh’s landscape since 1958, exudes picturesque charm, making it a must-visit destination in the city. However, a new irresistible addition is stirring up the tourism scene – a ‘Pizza ATM’!

The Chandigarh Industrial and Tourism Development Corporation (CITCO) has unveiled a groundbreaking pizza maker capable of crafting piping hot pizzas in a mere three minutes, marking a first for North India. Situated amidst serene waters, it offers visitors a tranquil ambiance to savor their culinary delights.

As per a report by the Indian Express, this newly installed pizza vending machine stands as the sole operational ATM of its kind across India.

Dr. Rohit Shekhar Sharma, the Founder & CEO of iMatrix Group of Companies (iMatrix World Wide) and the visionary behind this culinary delight, shared his insights, stating, “We drew inspiration from France for the ‘Pizza ATM’ concept. Determined to make it accessible, we crafted the machine ourselves at our Mohali factory.”

Continue Exploring: Domino’s Pizza takes on upscale pizzerias in India with premium offerings and hyper-localized approach

Sharma mentioned that a similar endeavor was undertaken in Mumbai after the Covid-19 pandemic, but it did not achieve the same level of success.

Nevertheless, the narrative takes a different turn at Sukhna Lake. Sharma highlighted that their ATM dispenses an average of 100 pizzas daily, a number that surges to 200-300 on weekends. Moreover, the pricing is exceptionally reasonable, offering a 35% discount compared to the rates of Domino’s and Pizza Hut.

Pizza

As for how the machine operates, Sharma reveals, “Once you’ve chosen your pizza preferences, a robotic arm springs into action. It assembles the base with your desired toppings, bakes it to perfection, and serves it up in just three minutes.” And here’s the kicker – the machine can multitask, preparing up to seven pizza bases simultaneously!

CITCO officials revealed that the lakeside location, bustling with tourists seeking a variety of culinary delights, set the stage for this delicious sensation.

However, the journey was not devoid of challenges. Sharma recounted the struggle with a Chinese machine, which managed tasks ranging from dough preparation to toppings. Nevertheless, technical difficulties necessitated a change in strategy.

Continue Exploring: GOPIZZA’s growth soars with 50th outlet in India, crosses the 200-store mark globally

Sharma oversees the day-to-day operations of the pizza ATM, including staffing, training, upkeep, and maintenance. CITCO stressed that the licensee must guarantee a superior customer experience, ensuring excellence in every aspect, from the ambience to the cleanliness surrounding the kiosk.

Global Trends: Pizza ATMs in the US Universities

In the US, Pizza ATMs have become a common feature on college campuses, offering fresh pizzas around the clock.

According to Delish, Pizza ATMs originated from Xavier University in 2016 and have since expanded to institutions such as Ohio State University, with the latest addition being the University of North Florida.

Managed by kitchen personnel, these ATMs guarantee that students can access hot meals, even during late-night study sessions.

They accept on-campus dining dollars, offering a convenient dining option for students.

Despite the $60,000 investment, universities deem them worthwhile for fulfilling students’ needs.

Expanding Innovations: WTC Vending Machine in Hyderabad

In June 2023, Hyderabad unveiled the world’s first Water, Tea, or Coffee (WTC) vending machine, transforming the landscape of beverage and snack dispensing. This fully automated innovation mimics the operations of a conventional street corner tea shop, providing tea, coffee, water, and biscuits round the clock without requiring human assistance.

Customers can effortlessly select their desired product by scanning the QR code on the machine, promptly dispensing it through the system. Engineered with user-friendliness in mind, the machine includes integrated voice assistance, guaranteeing a smooth experience for all users.

This initiative tackles the shortage of vending machines in India, especially in public areas such as malls, government schools, and offices.

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