SaveEat Raises $500,000 From Credent Investment At $4 Million Valuation The fund raised will be utilized towards strengthening the technology, increasing the team size and also marketing

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

SaveEat, India's first food saving app, today announced that they have raised a pre-seed round of $500,000 from Credent Investment Private Limited. The post money valuation of SaveEat post this round stands at $4 million. SaveEat is focused on solving the 'food wastage' problem by enabling eateris and restaurants to sell everything they prepare, every day. The fund raised will be utilized towards strengthening the technology, increasing the team size and also marketing.

"This pre-seed round comes on the heels of the product's unique ideation, business revenue model that is ambitious yet realistic and the untapped potential the business has in a country like India. The company also aims to hire the best and competitive talent in the country for this mission. We plan to become a first-of-its-kind foodtech platform that's addressing the INR 40,000 crore problem of food wastage in the hospitality sector of India. We intend to utilise the funds majorly towards strengthening our technology, increasing our team size and also on marketing. This would also help us expand our business operations across 3 key markets – Mumbai, Pune and Bangalore. Our goal is to partner with 3000 plus outlets by March," said SnehBinny, founder and CEO of SaveEat.

SaveEat aims to reach every household and build a community of like-minded individuals, empowering them to make sustainable life choices. Through its free smartphone app, SaveEat helps eateries sell their perfectly fresh surplus food and on the other hand It allows customers to get fresh, quality food from great places that would have otherwise gone to waste if not consumed in time. The app is live on Google Play store for android users, as per a statement given by the company.

"SaveEat is one of the only payers in India which is a business with a cause which sets it apart from other major players in the food-delivery industry. With a goal to make India a ZERO food waste country, SaveEat is transforming how surplus food is managed in India," said Aditya Kanoria, director designation at Credent Investment.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Science & Technology

Build a Profitable One-Person Business That Runs Itself — with These 7 AI Tools

Discover seven tools to automate content, leads and sales so you scale solo.

Money & Finance

8 Passive Income Ideas That Are Actually Worth Pursuing

These passive income ideas offer long-term earning potential with minimal ongoing effort.

Growing a Business

I've Built 22 Companies in 89 Countries — Here's Why a Clear Mission Is the Ultimate Growth Hack

A mission statement is the foundation of a company and should be developed before a business ever accepts a transaction.

News and Trends

Plush Raises INR 40 Cr Funding from Rahul Garg, Blume Founders Fund, OTP Ventures

The funds will be deployed to expand Plush's offline retail presence, deepen market share, and invest in brand-building initiatives aimed at positioning Plush as the go-to personal care brand for everyday wellness.

Growing a Business

28 Habits for Building a Successful Life in Business

If you are committed to happiness and success, work these habits into your daily routine. Soon, you'll be making progress on autopilot.