Placio raises $50k in seed funding for new food business

Noida-based student housing startup Placio has raised $50,000 in seed funding for its new venture in subscription-based food delivery system.

The company acquired a subscription-based food startup Paco Meals. With this move, it will help Paco Meals with the technology.

The takeover of Paco Meal provides Placio with an edge of talented culinary professionals,  and state-of-the-art facilities to develop menus that meet a multitude of tastes and deliver food beyond expectations.

“Placio intends to transform student living with nutritious and tasty food. With our deep understanding of the student market, we realise that nutrition and food play an important role in transformative living and learning experience. This is part of our vision for making students feels safe, involved and inspired. The good news is that Placio now extends this outlook to even students living in non-Placio properties. Taking over Paco Meals will now make us realize our dreams — by an unrestricted provision of meals to all students in other student housing also,” said Rohit Pateria and Ankush Arora, co-founders of Placio.

Paco Meals focuses on ‘3As appearance, aroma and appetite’ targeting delicious, innovative, sustainable, healthy food options. The company ensures the menu will not be repeated at least for 3 months and also brings the ‘taste of home’ to meals as students are invited to bring their favourite recipes from home, especially those for vegetarian and ethnic dishes.

“We understand the needs of bachelors and students as we have experienced the unappetising meals’ during our stay in college hostels. This unpleasant experience led to my startup in 2016 to provide wholesome and nutritious meals at subsidized prices for bachelors and students who were on a lean budget. Placio today has given me an opportunity to provide the residents and students with hygienic and nutritious meals filled with variety and flavour at all Placio’s housing in Delhi, Greater Noida, Noida Laxmi Nagar, Indore, and Lucknow,” said Nitin Joshi and Parul Tusele, co-owners of Paco Meals.