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Apr, 29 2015

Tapcibo rebrands itself as Dazo, raises seed funding from CommonFloor, TaxiForSure

Every Dazo delivery executive carries a smartphone that is powered by algorithms and real-time tracking resulting in incredibly efficient delivery operations.

India’s first and largest curated meal marketplace Dazo has announced a round of funding from some of the country’s most respected industry veterans including CommonFloor and TaxiForSure.

The company which was earlier know as Tapcibo has rebranded itself as Dazo.

Investors participating in this funding round include leading internet entrepreneurs such as Sumit Jain (co-founder and CEO, CommonFloor) and Aprameya Radhakrishna (co-founder, TaxiForSure), Alok Goel (former CEO, FreeCharge); experienced industry professionals such as Rajan Anandan (Managing Director, Google India), Amit Agrawal (Country Manager, Amazon India) Vinay Goel (Director Product Management, Google Maps & Local) and; leading hospitality entrepreneurs such as Ashish Dev Kapur (co-founder, Yo! China), amongst others.

Speaking on this funding, Sumit Jain (co-founder and CEO, CommonFloor) said, “I am very impressed with the caliber and experience of Dazo’s founding team. They have been able to build a superior product experience at such an early stage. The complementary skill sets of the seed investors and advisors will further aid the growth of the business”. Dazo provides a fresh and curated menu to its customers with a seamless ordering experience requiring just three taps on an Android phone.

The company has a seamless wallet through which customers can make entire transaction cashless.

Lunch, dinner and evening snack options are changed on a daily basis and include a wide variety of cuisines.

The company has partnered with neighbourhood restaurants and established food entrepreneurs to access a long tail of highly scalable supply of unique handcrafted meals to meet growing customer demand.

Founded in October 2014 by Shashaank Shekhar Singhal (ex-redBus Director of Mobile Products) and Monica Rastogi (Founder of Explore-in-Android), the company draws on its’ founders backgrounds to integrate technology to automate and optimize the logistics of food delivery.

Every Dazo delivery executive carries a smartphone that is powered by algorithms and real-time tracking resulting in incredibly efficient delivery operations.

The new funds will be used for enhancing product, technology and scaling operations into many new localities. Dazo currently serves hundreds of delighted customers in Bangalore across Indira Nagar, Domlur, Koramangala, Old Airport Road and Bagmane Tech Park.

Commenting further, Aprameya Radhakrishna (co-founder, TaxiForSure) said, “The food tech industry is very similar to the taxi industry with a lot of real-time logistics and tracking technologies involved. The Dazo team has built very sophisticated systems and a scalable technology platform from the inception of the business”.

Alok Goel (Former CEO of FreeCharge and currently CEO - New Businesses, FreeCharge) said, “Food is the highest frequency e-commerce segment and Dazo has shown very high customer engagement along with industry-leading repeat rates and cohorts. The team has build a highly positive unit economics business that’s scaling rapidly through technology innovation”.

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