Foodtech firm SaveEat raises $500,000 in funding to expand business

Start-up’s app helps eateries sell their surplus food and gives customers discounts

SaveEat has raised $500,000 in pre-series A funding form Credent Investment Pvt Ltd, bringing the foodtech start-up’s valuation to $4 million.

The film will use the fund on technology, increasing its team and on marketing.The money would help the firm expand its business operations in Mumbai,Pune and Bengaluru.

“This pre-seed round comes on the heels of the product’s unique ideation, business revenue model that is ambitious yet realistic, and the untapped potential the busines has in a country like India. The company also aims to hire the best and competitive talent in the country for this mission. We plan to become a first-of-its-kind foodtech platform that’s addressing the Rs 40,000 crore problem of food wastage in the hospitality sector of India,” said Sneh Binny, founder and chief executive officer of SaveEat.

“With a goal to make India a zero food-waste country, SaveEat is transforming how surplus food is managed in India,” said Aditya Kanoria, director at Credent Investment.

SaveEat’s free smartphone app helps eateries sell their surplus food (over-prepared, overstock, inaccurate predictions of sales, under consumption, etc) while giving customers discounts.

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