The funds raised will be used to expand in-house technology, invest in R&D, and expand presence across industries and cities.
NutriTap, founded in 2018 by IIT Kharagpur alumni Rajesh Kumar and Priyank Tewari, creates alternative retail channels for brands to engage in direct-to-customer (D2C) retailing. Smart kiosk technology and a simplified distribution mechanism are among the startup’s full-stack retail expertise.
Kiosk-based retail is now accepted as an alternative mode of retailing in India. To ensure that customers receive the best retailing solution, one must have the right technology. At NutriTap, they are developing technology to address this $10 billion alternate channel market, stated Rajesh Kumar, Co-Founder of NutriTap.
India has few players capable of developing efficient unmanned retailing infrastructure, and it is also heavily reliant on importing archaic and expensive vending machines from global markets. NutriTap claims to have addressed the issue by developing patented in-house retail kiosk technology that includes machine design, payment hardware, backend software, and data and business insight capabilities.
NutriTap currently has over 250 smart retail kiosk locations in India’s tier 1 metro cities. NutriTap plans to enable smart retail in 800 locations within the next year and more than 2,500 locations in India’s top metro cities within the next two years.
While alternative, kiosk-based retail has conventionally been associated with vending machines and has been very limited to either corporate snacking or residential grocery categories, stated Co-Founder Priyank Tewari, they believe that their technology has the potential to cater to the larger FMCG retail market and bring in a D2C flavor for brands across multiple categories.
What NutriTap is building will propel them to become category leaders in this still nascent space of unmanned, alternate retailing, and they believe they have the right team to make this happen, stated Apoorva Ranjan Sharma of Venture Catalysts.
NutriTap not only survived back-to-back COVID waves but also posted solid growth numbers as a result of timely pivots. They believe in the founders’ ability to build a full-stack alternate retail company and to execute the vision of making retail easier and more accessible to customers and brands, stated Ishank Kumar, Managing Partner of IK Capital.
NutriTap provides nutritious yet delicious foods and beverages on tap via cutting-edge automated retail machines. Its mission is to integrate health and nutrition into the hectic and sedentary corporate environment. They bring healthy foods and beverages within an arm’s length of a corporate employee thanks to their innovative, tech-driven, and anywhere-anytime automated retailing machines.
For more information, visit https://nutritap.in/