Tamil Nadu born food tech startup NativeSpecial has raised an undisclosed amount of funding from Indian Angel Network, and Madurai-based Native Angels Network.
Angel investor Nagaraja Prakasam has led this round of funding on IAN’s behalf and K. Premnath will join the board to provide strategic mentorship to the venture.
Founder & CEO of NativeSpecial Baskaran Veluchamy said, “Due to the positive response garnered during the trial execution of the sale last festival season among South Indian NRIs in the US, the company has sensed a huge market potential among them and has already started working on tapping the same.”
NativeSpecial retails traditional snacks & sweets through an online portal across India. The startup will utilise the newly raised funding for further upgrading of its laboratory facilities and expansion to newer markets.
NativeSpecial is looking to introduce FSSAI certifications for vendors and set up an exclusive warehouse in Chennai to enable a hassle free delivery model.
Lead investor from Native Angels Network, Anand Thangaraj said, “NativeSpecial is a unique attempt in a way that will revive the vanishing traditional cottage sector and, thereby, contributing to the rural economy. Furthermore, it has a huge market potential with its ability to deliver on a pan-India basis.”
NativeSpecial has a ‘stock-and-sale’ model, targeting the migrated population, and travellers going abroad, gift givers, food lovers, and corporate clients. According to a company statement, the portal has over 42 products with about 20 vendors on board. It claims to have over 7,500 registered users on portal and 6,900 orders have been reportedly executed as on date.