TenderCuts raises USD 15 million led by Paragon Partners and NAB VENTURES

TenderCuts, India’s only truly omni-channel meat & seafood brand has announced that they have raised INR 110 crore (USD 15 million) in a round led by Paragon Partners, a mid-market PE fund founded by Siddharth Parekh and Sumeet Nindrajog with participation by NAB VENTURES, a leading agri-food tech VC fund backed by NABARD.

The funding will allow TenderCuts to expand its current operations and pursue organic and inorganic growth opportunities. The funds will also allow the company to invest in scaling up its supply chain and technology infrastructure to support innovation and accessibility of its products and services.

Founded in 2016 by Nishanth Chandran, TenderCuts is revolutionising the way meat and seafood is sold in India. Indian consumers, unlike their western counterparts, prefer fresh (never frozen) meat and seafood. Also, many consumers have specific preferences in terms of the cuts of their meat and fish.

TenderCuts provides freshly cut meat and seafood to customers through their unique neighborhood stores which cater not only to walk-in customers but also online shoppers. All of this is driven by a fully integrated supply chain fuelled by proprietary technology.

Stringent focus on quality ensures that customers get the most hygienic and tastiest meat. Besides, TenderCuts is the only branded meat company that offers the freshest meat to consumers either in stores or delivered to their doorstep within 2 hours of it first being cut.

India’s meat and seafood market is worth $100 billion in size. However, over 95 per cent of the market is unorganised. The organised meat segment has seen a rapid acceleration of business during the pandemic driven by an increasing number of people focussing on quality, health, hygiene, and convenience.

Today, TenderCuts has 25 stores across Chennai and Hyderabad which cater to walk-in and online customers. The company’s core product portfolio includes fresh chicken, mutton, seafood, marinades, pickles, and eggs. Besides, the company also has an expansive ready-to-eat and ready-to-cook product range comprising cold cuts, sausages, kebabs, shawarmas, etc.