Why Is Sourav Ganguly Saying 'Just My Roots'?

JustMyRoots is not just any food delivery app; it's an intercity food delivery provider serving up to 30 cities. Moreover, the startup now plans to expand its operations to include same-city delivery, ensuring that food remains hot during transit. However, this is not the reason why the startup is making headlines in the media. Sourav Ganguly, a former ace cricketer and one of the most famous Indian captains, is the driving force behind the startup's current buzz.

Former Indian cricketer Sourav Ganguly has acquired a minority stake in the food delivery startup JustMyRoots. The exact amount of the investment remains undisclosed. Additionally, Ganguly has also signed an endorsement agreement with the startup, solidifying his association with the company and its brand.

JustMyRoots, founded in 2016 by Samiran Sengupta, Rajan Sachdeva, and Promita Sengupta, has established itself as a prominent intercity food delivery provider. JustMyRoots is reportedly planning to raise funds in the range of Rs120 crore to Rs 150 crore for expansion purposes. The startup is currently engaged in discussions with several potential investors regarding this funding round.

I am delighted to announce my strategic investment in JustMyRoots @Just_My_Roots , India's First and Largest Intercity food delivery platform and their revolutionary packaging brand Acaya @Acaya_India .

Justmyroots is reconnecting people with their roots and preserving the… pic.twitter.com/N8volPvgY8

— Sourav Ganguly (@SGanguly99) July 6, 2023

Expansion Plans and Strategies

Samiran Sengupta, one of the cofounders, revealed that JustMyRoots intends to develop in-house packaging solutions and venture into intra-city food delivery services, aligning itself with industry giants like Swiggy and Zomato. The infusion of funds will facilitate the implementation of these plans and further strengthen the startup's presence in the market.

Ganguly's Perspective

Expressing his thoughts on the investment, Ganguly highlighted the convenience of ordering food and enjoying it at home, especially considering the long working hours most people face nowadays. Recognizing this trend, he decided to make a personal investment and acquire a strategic stake in JustMyRoots.

Ganguly also emphasized his keen interest in investing in startups. Currently, he holds stakes in four different businesses, having recently divested from one of them. Ganguly's strategic investment in JustMyRoots adds to the growing list of his entrepreneurial ventures.

Financial Update and Future Prospects

With Ganguly's investment, the total raised by JustMyRoots from high net worth individuals has now reached Rs 31 crore. The startup reported an impressive revenue of Rs 208 crore for the fiscal year 2022-23 and aims to achieve Rs 350 crore in the upcoming financial year.

Samiran Sengupta expressed his optimism about the company's future prospects, stating that while JustMyRoots is currently operating at a loss, they expect to turn EBITDA positive by the end of the fiscal year. The startup already operates as a significant player in intercity food delivery, serving 30 cities. However, they now aim to expand their operations to include same-city delivery, ensuring that food remains hot during transit using their proprietary technology. The expansion is scheduled to begin in Delhi-NCR, Mumbai, Kolkata, and Bengaluru around the time of Diwali.

Innovative Solutions and Future Offerings

To facilitate their new same-city delivery service, JustMyRoots has implemented a hot chain supply solution, enabling the startup to keep food hot for a minimum of 4 to 5 hours. Additionally, they have developed a cold chain to preserve food freshness for at least 72 hours. These solutions have been created by Acaya, a subsidiary of JustMyRoots, and the company has applied for a patent for these technologies. Furthermore, JustMyRoots plans to explore opportunities to offer these solutions to other industries as well.

Cricketers' Entrepreneurial Engagements

Sourav Ganguly joining the ranks of cricketers investing in and endorsing startups is not a new phenomenon in India. In June of this year, cricketer Shikhar Dhawan invested in the D2C food startup TagZ and also became the brand ambassador for the company. Similarly, Hardik Pandya contributed to the D2C food startup Yu both as an investor and a brand ambassador. Notably, other renowned cricketers such as Sachin Tendulkar and Anil Kumble have also made investments in various Indian startups, showcasing their interest in the entrepreneurial ecosystem.

As Sourav Ganguly continues to explore new investment opportunities, his recent involvement with JustMyRoots demonstrates his confidence in the startup's potential and his commitment to supporting innovative ventures in the Indian business landscape.