PalateMKT aims to become the largest PHY-GITAL community of food vendors, producers and suppliers enabling them to leverage audiences both online and offline.
NEW DELHI, Mar 17 (The CONNECT) - The founders of The Palate Fest Ruchi Sibal and Aditi Kapoor announced a new groundbreaking Phy-gital enablement model called PalateMKT, a natural tech platform extension of the established physical brand.
This platform will allow vendors to leverage Palate’s existing offline strengths with its new online presence.
Palate has been a disruption in the food and beverage industry from the first ever international level food festival to their latest Palate MKT app. By combining this digital marketplace with its existing core strengths and adding other physical support tools its set to become the first focused enablement platform for the food and beverage industry.
Palate Mkt is an online venture by the founders of Palate Fest and venture built by Favcy Venture Builders. Openbook VC and Favcy VB are also investors in Cibology Pvt. Ltd., the company which owns both Palate Fest and Palate Mkt.
Under conceptualization for many years, PalateMKT has been uniquely designed to become the largest dedicated online marketplace for the discovery of a wide variety of good food products and ingredients. The Palate MKT app will be the first of its kind as it will create independent shop windows where artisanal to everyday ingredients and food products from a variety of vendors, producers and suppliers will be aggregated to provide good quality food products to consumers. Combining this with Palate’s already existing competences in physical promotion through Palate Fest it becomes a unique opportunity for existing and new entrants into the food and beverage categories.
Their ever-expanding store fronts includes over 3,000 products and ingredients, enabling the shop owners become part of the largest offline as well as online food ecosystem in the country.
The PalateMkT team was successful in onboarding more than a hundred curated suppliers and vendors in a short span of time. Having achieved product-market-fit, the team shifted their focus to increase revenues and expand the platform into a phy-gital ecosystem for food manufacturers. In 2022, PalateMKT hit another significant milestone by raising funds from Openbook VC. The team has since put their effort into compounding their tech-enablement platform into a consumer-facing app to further sales enable their food vendors as well as strengthen their business model.
Palate MKT aims to become the largest PHY-GITAL community of food vendors, producers and suppliers enabling them to leverage audiences both online and offline. They have curated an incredibly strong tech team, coupled with strong brand recognition, and are in the unique position to leverage it to create opportunities for the ecosystem, and the Palate community. They ensure that the tech platform ethically reinforces their brand philosophy of maintaining and broadening strong relationships within the wider community.