Daalchini Tech expects to clock Rs 50 crore revenue in FY23

Retail tech startup Daalchini Technologies is expecting to grow multi-fold and clock a revenue of Rs 50 crore during the current fiscal with offices and institutions reopening in the country, a senior official of the company said on Friday.

The company sources vending machines from third party manufacturers and adds Internet-of-Things technology to suit the needs of customers.

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Daalchini Technologies co-founder and CEO Prerna Kalra told PTI that the vending machine market in India is predicted to grow at a CAGR (compound annual growth rate) of 14.9 per cent between 2020 and 2026.

"This year we expect to clock revenue of Rs 50 crore and gross merchandise value of Rs 130 crore. Lots of MSME and large offices have started adopting vending machines. Before the pandemic, adoption of vending machines in large offices was less than 5 per cent. In the last one year, 30 per cent of our vending machines have been deployed at large enterprises," Kalra said.

She said that with around 40,000 hospitals, 5.55 lakh workplaces, 1.13 lakh public places (metro, railway stations etc.), 2.49 lakh factories, 2.20 lakh ATM locations among others vending machine segment is a severely under-tapped market space. It has more than six million possible locations to install vending machines across the country. Kalra said that even before the pandemic began, the company's focus was on building smart vending machines with healthy food products. The pandemic gave this initiative a big push.

"The increase in organized retailing across malls and multiplexes, BPOs, IT, and ITES in India will fuel demand for vending machines. Additionally, people being more cautious towards social distancing and safety post-pandemic, the increased use of vending machines in public infrastructure and offices would further drive the demand for India's vending machine market over the coming years."