Hello Meal - Pitchbook - November 2018 - Startup India
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Hello Meal - Pitchbook
November 2018
CONFIDENTIAL
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Hello Meal
INDUSTRY ANALYSIS
Food Services emerge as a key segment in Indian economy. Indian Food Services
market (organized and unorganized) is estimated at INR 3,37,500 crore in 2017 and is
projected to grow at a CAGR of 10% over the next five years to reach INR 5,52,000
crore by 2022.
Pune, Ahmedabad, Chennai, Hyderabad, Bengaluru and
Kolkata collectively contribute 20% in the food services
industry.
20%
22% Two mega metros (Delhi NCR and Mumbai) contribute
22%
48% Other regions (segregation unavailable)
CHAIN MARKET
QSR has captured the highest market size and continues to grow rapidly.
The chain market is expected to
grow at a CAGR of 21% to reach
INR 62,000 crore by 2022 from
INR 23,500 crore in 2017. Quick
Service Restaurants (QSRs) have
the maximum market share
followed by casual dining
restaurants (CDRs). In the chain
market, QSRs and CDRs
constitute 79% in 2017 and the
same is expected to grow at 83%
by 2022.
INDUSTRY OVERVIEW
Tech capabilities give competitive advantage in the industry.
KEY TRENDS MARKET DRIVERS
VIRTUAL KITCHENS: These companies serve high HEALTHY EATING: Deloitte suggests that
quality hygienic food prepared under the it is a critically important consumer driver,
guidance of well-known chefs, so that it tastes a trend that has considerable effect over
like restaurant food and has the hygiene company strategies.
coefficient of home-made food.
FOOD DISCOVERY/RESTAURANT SEARCH APPS: INCREASE IN WORKING WOMEN: The
Food restaurant discovery is no longer an issue emergence of nuclear families and both
as info. about the outlets, reviews, opinions etc. parents working has increased the demand
is just a few clicks away. for restaurant food
CONTACT LESS PAYMENT: With the evolution of EXPERIMENTATION: Nowadays, Indians
technology, the payment platforms have also prefer to try different cuisines like
changed. Mobile Payments are replacing the Chinese, Mexican, Italian etc. The change
conventional methods. in preferences has provided a boost to the
food industry.
OUR TEAM
AMANDEEP SINGH TUSHAR KANTI DAS SARASWAT MISHRA
(COO & CO-FOUNDER) (CEO & CO-FOUNDER) (SLEEPING PARTNER)
• Born and Brought
• Born and Brought • Born and Brought
up in West Bengal.
up in Delhi up in Odisha.
• Ex- Merchant Navy.
• Graduation: Delhi • Graduation:
University in English Nalanda Institute of
• Graduation: Delhi
Hons. technology in
University in English
Engineering
Hons.
OUR STORY
Belonging to Delhi NCR, we saw people missing the essence of
home and struggling to survive in an alien environment. It does
not take an epiphany to realise that the main reason for this is
the food they eat. In order to solve this problem, our founders
came up with a medium to provide home-like food at
economical cost. Our main motto is to strive for the day when
every student and employee in India would say:
“Ghar ki yaad aati hai,
Ghar ke khaane ki nahi”WHAT WE DO?
PROVIDES HEALTHY FOOD
Customer loyalty is expected for food which is healthy & tasty.
CATERS TO STUDENTS & OFFICE-GOERS PROVIDES ECONOMICAL FOOD
Our customer base mainly consists WHAT WE Our focus is not only to provide
of college students and office-goers DO? healthy and tasty food, but also at
and that is why, we try to economical prices so that our food
incorporate different cuisines in our can become pocket-friendly.
menu to ensure variety.
TRIES TO GIVE ‘GHAR KA KHAANA’
No food is good when it does not have a homely touch. So, we strive to provide ‘ghar
ka khaana’ to all our customers.BUSINESS MODEL
Hello Meal operates through a kitchen in Ashok Vihar from where it
delivers food to its customers. Sales are made via two mediums - B2B
and B2C.
B2B B2C
Our B2B model includes Our B2C model includes-
collaborations with PGs and • Online medium - orders received from
Corporate houses that do not have online apps/websites like Zomato, Swiggy,
self serving kitchens and therefore Uber Eats, Foodpanda and HM app etc.
provide 3-4 meals/day at economical • Offline medium - orders received from toll
rates. free numberSOURCES OF REVENUE
Multiple streams of revenue established are-
OFFLINE MEDIUM
ONLINE MEDIUM 1 2
orders received from online orders received from toll free
apps/websites like Zomato, Swiggy, number
HM app etc.
4 3
SUBSCRIPTION
COLLABORATION
Hello Meal App provides meals on a
S
Hello Meal collaborates with PGs and
monthly subscription basis and also
Corporate houses to provide meals.
provides food jackets as a medium of
advertisement.CUSTOMER ANALYTICS
Most of the revenue generated for HELLO MEAL comes from the B2C model, i.e.79%
whereas the rest 21% comes from the B2B model.
50%
21%
40%
33% 32%
30%
21%
20% 79%
14%
10%
0%
SWIGGY ZOMATO HELLO MEAL COHO B2C B2B
Revenue from different sources Revenue from B2B and B2C model
For the period Aug’17 – July’18INDUSTRIAL CHALLENGES HELLO MEALS' STRATEGY
Multitude of rivals Unique B2B-B2C model to capture the market
Funds required for inorganic growth 50% of seed funding to be used for expansion
Clean kitchens, hygienic chefs and air-tight
Maintaining food quality packaging
Expert chefs and Zomato and Swiggy’s fleet of
Limited delivery time
delivery men
Zomato rating of 4.1 and customer retention
Wavering customer loyalty rate of 80%ECONOMICAL
Provides home-like
SUBSCRIPTION FACILITIES food at the door-
Provides various incentives step at a nominal
to the consumers like amount.
monthly subscription policy.
VARIETY
Provides daily changes in COMPETITIVE
the menu and offers
multiple cuisines. ADVANTAGES
HEALTHY
HELLO MEAL uses organic
and fresh food products to COLLEGE TIE - UPS
prepare meals. Collaborates with
colleges to organize
various events. Till date,
they have organized 18+
events.JOURNEY SO FAR
September, 2017
Hello Meal
collaborated with
February, 2018
CoHo
Hello Meal
March, 2017 collaborated
Hello Meal was with SWIGGY
October, 2018
established on
7th March, 2017 Collaborated
with FOOD
October, 2017 PANDA to
Hello Meal widen its reach
August, 2018
collaborated with
Sealed another
ZOMATO collaboration with
Uber Eats and
crossed a revenue
of 90 lakhsFINANCIAL PROJECTIONS
Estimating the key financial drivers for the years 2018-2023
2018 2019 2020 2021 2022 2023
Operating centers 1 2 4 8 12 20
Order Growth
35,694 92,804 2,32,011 5,56,826 9,60,526 18,41,007
(no. of orders)
Annual Revenue (in Rs. Cr) 0.71 1.74 4.69 12.97 23.51 50.21
Cost of Materials Consumed (in
0.31 0.69 1.78 4.66 7.99 16.06
Rs. Cr)
Other Expenses (in Rs. Cr) 0.38 0.63 1.71 4.73 8.58 18.32
EBITDA (in Rs. Cr) 0.01 0.41 1.19 3.56 6.93 15.81
EBITA margin (in %)
2 23.5 25.5 27.5 29.5 31.5COMPETITORS
Revenue
Funding raised Valuation (in Net Profit/loss
Name HQ of company Investor name generated
(in crores) crores) (in crores)
(in crores)
Sequoia Capital, ru-Net, Lightbox, Sistema
Faasos Pune 83 721 870 -69
Asia Fund
FreshMenu Banglore Zodius Capital, Lightspeed Venture Capital 70.9 155 301 -42.3
Ratan Tata, SIDBI, Kalaari, Inoven Capital,
HolaChef Mumbai 14 69 177 N.A.
India Quotient
Chandigarh Angels, Ashish Gupta, Rohit,
Biryani by kilo Gurgaon 24 10 37 N.A.
Ashish Chand, Sunil Singh & Others
Scootsy Mumbai Agnus Capital, Khattar Holdings 30 26 50 N.A.
Chai Point Bengaluru Eight Road Ventures 56 19 219.74 -38.5
Fingerlix 12 63 105 N.A.
Banglore Zephyr Peackock, Accel partnersMultiples EV /Revenue
EV
Faasos 14.03
REVENUE FreshMenu 4.14
HolaChef 12.64
The average EV/REVENUE of seven startups in food industry
Biryani By Kilo 1.54
Scootsy 1.67
14 Chai Point 3.92
12.64
12 Fingerlix 8.75
10.48
10 8.75
8
6
4.14 3.92
4
1.54 1.67
2
0
Faasos FreshMenu HolaChef Biryani by kilo Scootsy Chai Point FingerlixVALUATION
Mean 6.16
Median 4.14
Mean Upper Range 6.41
Mean Lower Range 5.91
Hello Meal Valuation Upper (in INR) 11.19 crores
Hello Meal Valuation Lower (in INR) 10.31 crores
VALUATION OF HELLO MEAL FOR 2018-19 (in INR)-
10.31 crores – 11.19 crores
($ 1.43 million – $ 1.55 million)
EXPECTED VALUATION AFTER 5 YEARS (in INR)-
296.78 crores – 321.89 crores
($ 41.15 million – $ 44.64 million)FUND UTILISATION
MARKETING & PROMOTION
10% Hello Meal will divert 20% funds towards marketing,
content creation and promotion.
TECH PRODUCT
20% Hello Meal will divert 10% funds towards technological
expansion and upkeep.
The break-up of the CURRENT OPERATIONS
injected funds into
various segments. Hello Meal will use 20% funds for continuing current
20% operations and developing the business further.
EXPANSION
Lastly, half of the funds will be used to expand to other
50% areas like Dwarka and Gurugram as franchise/branch.FUTURE EXPANSION PROSPECTS
FRANCHISE
BUSINESS MODEL
Hello Meal plans to adopt the franchise model, one such
example being the Dwarka Franchise opening in
November
EXPANSION IN
DELHI-NCR
Hello Meal plans to expand to different parts of
Delhi-NCR such as Noida so as to increase its
customer base
7 Cities
3 Cities 15 Kitchens
1 City EXPANSION TO
5 Kitchens
1 Kitchen OTHER CITIES
Hello Meal also aspires to increase its reach to other
parts of India such as Jaipur, Gurugram etc. and opening
UPSCALING IN THE FUTURE restaurants as wellFUTURE
EXPANSIONS
DELHI
DWARKA
NOIDA
GURGAON
KOTA
BHUBHANESHWAR
Expansion plan for
2018-19
Expansion plan for
2019-22PARTNERSHIPS
Indian Food Services
Industry is projected to
grow at a CAGR of 10% for
next 5 years.
Holachef raised its Series
A funding of INR 19.6
Innerchef acquired
crore from Kalaari Capital
Flavour Lab and Eatgo.in
and Mr. Ratan Tata in
June 2015.
Chaayos raised seed funding of
INR 2 crore from Zishaan Innerchef Pvt. Ltd. Has
Hayath in 2014. Series A raised INR 28 crores till
funding of INR 32 crore from
Tiger Global.
MARKET round 2 of Series A
funding.
Box8 raised a total of INR
TRENDS FreshMenu has raised a
total of INR 152 crores
87 crores funding over 4 funding over 2 rounds
rounds. and is in talks to raise INR
54 crores further.
Digital marketing, restaurant
Ola’s Foodpanda acquires search aggregators, table
Holachef to enter the reservations and online
cloud kitchen business. delivery emerged as the key
technological disruptors in the
market.AMANDEEP SINGH TUSHAR KANTI DAS SARASWAT MISHRA
(COO & CO-FOUNDER) (CEO & CO-FOUNDER) (SLEEPING PARTNER)
+91 7838240414 +91 9609651154 +91 8895555888
amandeep874233@gmail.com tushar.das6@gmail.com bapun12@gmail.com
www.hellomeal.co.in | +91 9609651154You can also read
