Chennai-based The Meat Chop Raises Rs 7 Cr In Seed Funding Round

The Meat Chop, a Chennai-based local butcher stores sourcing startup, has raised Rs 7 crore in a seed funding round.

The funding round saw participation from Ankur Agarwal (Co-founder, Dunzo ), Mohan K, Meenakshi Sundaram, and Jaikumar R (Co-founders, IppoPay ), Amith D’Souza (Google), Rahul Mahipal (Founder, Capitar Ventures), Omar Bin Brek (Founder and CEO, Foloosi), and other global angel investors.

As per the startup, the raised funds will be used to expand, enhance technology and supply chain infrastructure, and build a strong team and brand. It sees a 50 to 60% growth in sales volume, reducing dump by 90% and clocking nearly Rs 1.5 crore on average in annual sales.

The Meat Chop | Techpowering Corner Butcher Stores

Founded by Appaas, KalyanaSundaram A, Navas Khan, and Yasar in January 2021, The Meat Chop partners with corner butcher stores and upgrades them into smart stores powered by technology and processes.

The startup manages procurement, marketing, promotions, and merchandising for the butcher stores on its platform through tech systems and a standard operating plan.

Speaking about the development, Appaas, Co-founder and CEO of The Meat Chop, said,

“Our goal is to create a platform to fix the information asymmetry in supply and demand that has plagued this market for a very long time. While 99% of the $70 billion meat & seafood retailing is handled by the local butcher stores, the incentives were not actually reaching the butcher stores due to limited product shelf life, poor sourcing and lack of access to technology.”

It equips butcher shops with cloud-based technology for accurate forecasting & order placing, accounting sales & dump, and getting standardized products at their doorstep, saving big time from procurement woes and catering to retail & online customers.

Commenting on the development, Ankur Agarwal, Co-Founder of Dunzo, said,

“TMC is bringing the benefits enjoyed by organised players to the local butcher shops, including quality sourcing, tech stack, data analytics and last mile delivery. With meat & seafood retailing continuing to be very localised and personalised, TMC can help the local butcher shops extend modern shopping experience to the next billion customers.”

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