Student Housing Startup Placio Acquires Paco Meals & Raises $50K in Seed funding for the New Food Business
This takeover of Paco Meal provides Placio with an edge of talented culinary professionals and equipped with state-of-the-art facilities to develop menus that meet a multitude of tastes and deliver food beyond expectations.
In another strategic move, Noida-based student housing startup, Placio has acquired a subscription based food startup Paco Meals- a subscription based food delivery system and has raised $50,000 seed funding for the new venture of food business. With this move, Placio will help Paco Meals with the technology, Placio’s captive audience, B2B partners in student housing market and scale pan-India. This takeover of Paco Meal provides Placio with an edge of talented culinary professionals and equipped with state-of-the-art facilities to develop menus that meet a multitude of tastes and deliver food beyond expectations.
In the words of Rohit Pateria & Ankush Arora – Co-Founders of Placio, “Placio intends to transform student living with nutritious and tasty food. With our deep understanding of the student market, we realise that nutrition & 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 unrestricted provision of meals to all students in other student housing also.”
Paco Meals focuses on ‘3As: appearance, aroma and appetite’ targeting delicious, innovative, sustainable, healthy food options. The company ensures that the menu will not be repeated at least for 3 months & also bring the ‘taste of home’ to meals as students are invited to bring their favourite recipes from home, especially those for vegetarian and ethnic dishes. These suggestions are used and acknowledged by Placio’s team and implemented during ‘Mother’s Pride Day’—a concept day at Placio Housing. Food parties are held once every month with a wide-variety of food choices. Students are welcome with their feedback and Placio Committee will make all possible efforts to weave the innovation of these concepts at the dining hall. Students are sure to be surprised by the quality and value that we offer.
Nitin Joshi & Parul Tusele, co-owners of Paco Meals said, “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 start-up 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.”
Founded in March 2016 by Rohit Pateria & Ankush Arora, Placio is a student housing startup providing lifestyle experience thus redefining hospitality by offering modern and secured concept of co-living. The digital platform curates modern living spaces, fully-furnished rooms, private rooms and personal apartments in some of the best localities in and around university campuses with trailblazing amenities. Placio is incubated by Amity Business Incubator and the company currently manages 15+ properties.