The funding follows the company’s transition to profitability, making it the first organised player in the fresh meat and seafood category in India to achieve positive EBITDA at both the store and consolidated levels.
“This fund raise marks the completion of a critical phase in our turnaround journey,” Sasikumar Kallanai, Co-Founder and CEO, TenderCuts, said.
“The focus over the past several quarters has been on building a disciplined operating model with clear visibility on profitability and capital efficiency. With that foundation in place, we are now positioned to scale in a measured and sustainable manner,” he said.
“TenderCuts has completed a meaningful reset of its operating and financial model. We see a business that now has the operating maturity to scale, and our investment is aligned with supporting that next phase,” Sounder Kannan, Director of Lakme Investment and Finance Ltd, said.
