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Tamil Nadu-based foodtech start-up Native Special Products has raised an undisclosed amount from Indian Angel Network and Madurai-based Native Angels Network. The start-up retails traditional snacks and sweets through its online portal across India.
Angel investor Nagaraja Prakasam has led this round of funding on IAN’s behalf and K. Premnath will join the board to provide strategic mentorship to the venture.
The Indian e-commerce FMCG market is estimated at $5 billion out of which the food products constitute 43 per cent. While there are a plethora of food-ordering sites, there are very few platforms offering authentic traditional sweets.
“Due to the positive response garnered during the trial execution of sale last festival season among South Indian NRIs in the US, the company senses a huge market potential among them and has already started working on tapping the same.” said Baskaran Veluchamy, Founder & CEO, Native Special.
The start-up intends to utilise the raised funds for further upgradation of its laboratory facilities and expansion to newer markets. The portal nativespecial.com has more than 42 products with 20 vendors on board.
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