 "BetterButter raises seed funding led by growX ventures")
Apart from growX, Singapore-based investment firm M&S Partners and angel investor Manish Singhal participated in the round. Singhal will take on Board observer role in BetterButter. Rajesh Sawhney (Founder of GSF Accelerator) also participated in the round.
BetterButter was founded by Sukhmani Bedi and Niyaz Laiq, graduates of Cambridge, Insead, and SOAS. The platform allows users to create, share and discover recipes.
"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," said the founders.
Ashish Taneja, Managing Director at growX ventures, said, "Indians are voracious consumers of recipes on the Internet, and we believe that there is potential to create a new kind of food and kitchen-centric platform in India with tens of millions of monthly, highly-engaged users."
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The recipe space, largely unaddressed in India, has seen significant global deal activity in recent times. Last month, Xiachufang raised a Series-B round of $30 million. In November 2015, Douguo secured a $25 million Series-C funding round. Douguo has seen over 75 million downloads of its mobile app. Markets like the US and Japan have multiple established recipe discovery platforms.
Bedi's experience spans IMF, Deloitte, and Phillips, where she led marketing for kitchen appliances. Laiq comes from the VC/ PE industry, and has worked at Hermes PE in London/ Singapore and Lok Capital in Delhi.