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Monday, April 15, 2024

SteamUp Foods is meeting growing demand for healthy snacks with momos

With a variety of ready-to-steam momos, SteamUp Foods combines flavour, health, and convenience. Next up for the D2C foodtech startup are idlis and dhoklas.

Archit Agarwal founded Mumbai-based foodtech business Steamup Cuisine in 2019 with the goal of satisfying the Indian consumer’s rising hunger for grab-and-go foods with healthier alternatives. The firm wants to make “steamable” dishes like idli, rolls, rice, and dhokla more accessible for individuals who cook – and those who don’t! It started by selling a variety of vegetarian momos. In addition to being quick and simple, steaming preserves nutrients, increases antioxidants, improves flavour, requires less oil, and is a flexible and environmentally friendly cooking method.

All statistics indicate the necessity for an alternative to fried food because India is the diabetes capital of the globe. It is obvious that children need to be taught better behaviours early on.

This was the initial impetus behind me taking action to address the issue, said Archit, the 25-year-old founder of SteamUp Foods.

Archit made the decision to start a “steaming revolution” in order to combine convenience, flavour, and health. We started with everyone’s favourite cuisine, momos, because it was crucial to make vegetarian food acceptable to all consumers, he explains.

To bootstrap the firm, he originally contributed Rs 1 lakh raised from friends and family.

Pritish Chatterjee, Director of the Savera Group from Aurangabad, was interviewed by Archit when he was 16 years old for a class assignment, according to Archit.

He remembers finding it motivating to speak with a man who had created a million-dollar business from nothing. Archit launched HaFit, a subscription-based company that sells healthy snacks, right away after receiving his degree.

The aim and philosophy of his new company are reflected in the name. The cost of the momos ranges from Rs 99 to Rs 180; the Tibetan sauce costs Rs 25. The order minimum is Rs 300.

For orders under Rs 500, shipping is Rs 40; for orders over Rs 500, delivery is free. The business claims that its goods have a nine-month shelf life.

SteamUp items may be found on offline retail sites including Reliance Signature, Nature’s Basket, Reliance Fresh, Foodhall, Sahakari Bhandar, Society Stores, Avarya Stores, Dorabjees, and Haiko Supermarket as well as online retail sites like Bigbasket, Swiggy, Gourmet Store, Vegan Dukan, and Vvegano.

Additionally, customers may place direct product orders on SteamUp’s website. Currently, internet channels make for 15% of sales, while traditional channels account for 85%.

Nearly one-third of all sales are made up of vegan momos made with Jain wheat. “The initial wave of COVID-19 performed successfully for SteamUp.

For a short time, there was a huge demand for ready-to-cook meals, which caused our sales to increase 20X. With 12 team members, SteamUp sources goods from several producers in Bengaluru, Mumbai, and Pune.”

According to SteamUp, more than three lakh momo packages have been sold thus far. With a few logistical firms in partnership, it offers doorstep delivery.

Currently, Mumbai, Pune, Hyderabad, Ahmedabad, and Nashik are among the cities where the items are sold. Customers for the company make up around 75% of the total; the remaining 25% are from other cities.

It claims to have a 50% refund rate “rate. “

The most frequent comment we hear from customers is how convenient it is to steam and eat momos in just five minutes.

In FY22, SteamUp brought in Rs 1.05 crore in income and now brings in Rs 15 lakh per month. Future and the market According to Imarc, the value of the Indian frozen food industry increased from Rs 124.06 billion in 2021 to Rs 306.61 billion by 2027, rising at a 16.2% CAGR in that time.

Along with other brands, SteamUp is in competition with Prasuma Momos, Imagine Meats, Blue Tribe Foods, Wow Momos, Sumeru, and Big Sams.

According to Archit, the difference is that roughly 95 percent of currently offered frozen goods are “to be cooked or microwaved.” In the following three years, he predicts, “we believe ready-to-steam items have the potential to grab at least 25% of this market share.” Mini idlis, rice, rolls, filled idlis, stuffed dhoklas, sauces, and more will be added to SteamUp’s product lineup.

By the end of 2022, the firm also plans to spread out across 10 locations.

Archit says, “We intend to develop worldwide very soon,” adding that year-over-year (MoM) sales increase should be 25%.

Additionally, SteamUp intends to offer steamed cuisine through QSR kiosks and cloud kitchens. Archit says, the startup desires a mixed model. In Versova, Mumbai, the business has already tested its first cloud kitchen.


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