A humble food startup started in 2006, which started selling Idly and Dosa batter in Thippasandra market in Bangalore have now grown ten folds and so much so that VC firm like Helion Ventures decided to invest Rs.35 crore in the this Food startup called - ID Fresh Foods.
The funding is a sign of the ambition that the founders of the food startup ID - five cousin brothers - have for the company, which until 2011 was a one-city venture.
ID Fresh Foods claims to sell 100% natural, authentic-tasting Indian meals made with fresh ingredients and absolutely no chemicals.
Today, the firm sells Rs 7 crore worth of preservative-free food products each month in eight cities, including Chennai , Hyderabad, Mumbai, Mangalore, Mysore and Dubai.
The company was started in 2006 by Musthafa, Shamsudeen TK, Abdul Nazer, Jafar TK and Noushad TA. It sells idli and dosa batter, chutneys, parotas and chapatis. The company says it clocks revenues of Rs.7 crore each month.
"We manufacture overnight and supply fresh every day," said Musthafa. ID, which is targeting to be a `1,000 crore business by 2020, is now investing about Rs 2 crore in product development and is hiring food sciences experts.
"We want to scale up to 30 cities and 30 products in the next five years and for that we wanted a partner who could support with strategic decision making, expertise and access to network, apart from funding," said Musthafa PC, who set up a smallscale idly batter production venture in 2005, when still a student at IIM-Bangalore with his cousins Abdul Nazer, Shamsudeen TK, Jafar TK and Noushad TA.
Advertisements