New Delhi based BetterButter, an online social food discovery platform, has secured a seed funding round led by growX ventures. The platform currently focuses on recipes, allowing users to create, share, discover, and appreciate recipes, and aims to become India’s dominant platform for all things kitchen in the future.
Financials related to the round remain undisclosed. Apart from growx, Singapore-based investment firm M&Y Growth Partners and angel investor Manish Singhal participated in the round. Singhal will also take on a Board Observer role in BetterButter, company said in an official statement.
Founded by Sukhmani Bedi and Niyaz Laiq, BetterButter aims to tap the India’s love to consume and cook food. Recipes have emerged as a major category of engagement for Indians online. Food & Beverages is the second-most searched category by Indian women, with recipes topping search within F&B. India is also the world’s largest consumer of recipe content on YouTube.
While there are numerous Facebook groups, online blogs and communities for sharing recipes, BetterButter is targeting to become a one-stop solution for everything on recipes.
Commention on the fund-raise, BetterButter founders said, “Cooking plays a central role in Indian homes; in fact, Indians spend the maximum amount of time in their kitchens as compared to any other country in the world. Despite this, there is no large recipe brand in the country today, and our goal is to make BetterButter synonymous with cooking at home in India. We are delighted to have great investors who share this vision with us.”
The recipe space, largely unaddressed in India, has seen significant global deal activity in recent times. For instance, Chinese startups like Xiachufang and Douguo raised $30m and $25m respectively. Douguo has seen over 75 million downloads of its mobile app. Markets like the United States and Japan also have multiple established recipe discovery platforms.
In India too, we have seen a couple of investments in this space, though none of them comes close to what their Chinese counterparts have raised. Just yesterday, Food Talk India raised a $500K angel round, while Eat Treat, a Facebook group-turned-online platform also raised a $350K round earlier this year.
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