Gurgaon headquartered D2C Retail tech startup Nutritap technologies plans to enable D2C retail at 10,000 locations in 20 cities across India by 2023. Nutritap technologies, founded by IIT Kharagpur graduates Rajesh Kumar and Priyank Tewari in 2018, has scaled up from just a handful of kiosks in 2018 to over 300+ kiosks in 2021. “We see technology taking up a major role in replacing the multiple Kirana stores in residential apartments and tuck shops in corporate offices with automated, AI and IoT enabled retail kiosks”, co-founder and CEO Rajesh Kumar says. “Personalised, direct to customer delivery of FMCG products and beyond is going to be increasingly common, specially in the background of COVID-19, as customers become more and more concerned about minimum contact, quick delivery of products that serves instant gratification” he adds.
D2C kiosk retail market is estimated to reach around $10 Billion by 2023. Nutritap is currently serving millions of customers annually across multiple sectors like Residential apartments, Hospitals, Factories, Airports, Hostels, Corporate etc in 5 cities of India and plans to expand to at least 20 cities across India by 2023. Nutritap enables more than 100 thousand digital, touchless transactions every month through its kiosks and expects this to increase by almost 30 times in the next 1 year. To fuel this expansion, Nutritap plans to raise growth capital in the range of $10 - 12 Million in the next 1-2 years.
Nutritap is the only player in the Indian vending machine market to own patented technology which is 100% in-house developed. Explaining the technological advantage that Nutritap holds, co-founder and CBO Priyank Tewari says “Owning the hardware, software and design aspects of retail vending technology gives us a distinct advantage to be flexible in terms of design and customise our retail kiosks as per customer requirement. There is also a distinct cost advantage that owning technology gives us. We are committed to provide the best in class kiosk retail experience to our customers through the use of cutting edge technologies like sensor based dispensing, AI enabled image recognition and Computer vision. In this quest, we have recently acquired a Bangalore based digital vending startup called Pikobox. This acquisition will help us establish more strongly, our position as a market leader in retail tech while opening more channels for brands to do D2C retail”
Nutritap sells more than 200 brands in multiple categories including Snacks, Beverages, Health & Nutrition, Hygiene, Stationery and Ready to Eat. “We have seen tremendous growth of retail activity from our kiosks in recent times in sectors like residential, hospitals and factories signifying a shift in demand hotspots. The first half of last FY was spent in cozying up to the reality brought in by COVID, it also gave us an opportunity to diversify to pandemic proof channels. As a result, the second half of FY 20-21 saw a revenue growth of 2.2X for Nutritap as compared to the first half, indicating strong resilience from the team and an ability to bounce back from downturn”, says Rajesh.
Nutritap has earlier raised seed capital from marquee investors like Patni family, Ananth Narayanan, a set of top retail executives and a clutch of investors from McKinsey and Google.