Hello Meal - Pitchbook

November 2018

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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
VIRTUAL KITCHENS: These companies serve high
quality hygienic food prepared under the
guidance of well-known chefs, so that it tastes
like restaurant food and has the hygiene
coefficient of home-made food.
FOOD DISCOVERY/RESTAURANT SEARCH APPS:
Food restaurant discovery is no longer an issue
as info. about the outlets, reviews, opinions etc.
is just a few clicks away.
CONTACT LESS PAYMENT: With the evolution of
technology, the payment platforms have also
changed. Mobile Payments are replacing the
conventional methods.
MARKET DRIVERS
HEALTHY EATING: Deloitte suggests that
it is a critically important consumer driver,
a trend that has considerable effect over
company strategies.
INCREASE IN WORKING WOMEN: The
emergence of nuclear families and both
parents working has increased the demand
for restaurant food
EXPERIMENTATION: Nowadays, Indians
prefer to try different cuisines like
Chinese, Mexican, Italian etc. The change
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
Corporate houses that do not have
self serving kitchens and therefore
provide 3-4 meals/day at economical
rates.
• Online medium - orders received from
online apps/websites like Zomato, Swiggy,
Uber Eats, Foodpanda and HM app etc.
• Offline medium - orders received from toll
free number
 SOURCES OF REVENUE
Multiple streams of revenue established are-

ONLINE MEDIUM
orders received from online
apps/websites like Zomato, Swiggy,
HM app etc.
OFFLINE MEDIUM
1 2
orders received from toll free
number

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’18
INDUSTRIAL 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%

SUBSCRIPTION FACILITIES
Provides various incentives
to the consumers like
monthly subscription policy.
VARIETY
Provides daily changes in
the menu and offers
multiple cuisines.
HEALTHY
HELLO MEAL uses organic
and fresh food products to
prepare meals.
ECONOMICAL
Provides home-like
food at the door-
step at a nominal
amount.
COMPETITIVE
ADVANTAGES
COLLEGE TIE - UPS
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 lakhs
 FINANCIAL 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 31.5
 COMPETITORS
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 partners
 Multiples 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 Fingerlix
 VALUATION
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 well
FUTURE
EXPANSIONS
DELHI
DWARKA
NOIDA
GURGAON
KOTA

BHUBHANESHWAR
Expansion plan for
2018-19

Expansion plan for

2019-22
PARTNERSHIPS
 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 9609651154