India’s First Prebiotic Soda Brand Misfits Attracts Strategic Investors in Seed Round

Misfits, India's pioneering prebiotic soda brand, today announced the successful completion of its seed funding round, raising an undisclosed amount from a consortium of prominent investors. The round was led by Nu Ventures, seasoned angel investor Subba Rao Telidevara, Turiya Advisory Services’ Managing Director Bijoy Daga; and renowned corporate finance and strategic investment consultant Robert Pancras.

Founded by brothers Aditya and Yash, Misfits has disrupted India's beverage industry by introducing the country's first prebiotic soda that combines bold taste with gut-friendly benefits. The brand's flagship product contains zero added sugar and are low in calories, positioning itself as a healthier alternative to traditional carbonated drinks.

The funding will be utilized to enhance production capabilities, expand distribution networks, and accelerate market penetration across India. Since its launch, Misfits has gained significant traction with consumers seeking functional beverages that deliver both taste and health benefits.

Left to right - Aditya Pai & Yash Pai(Co-founders of Misfits)

"We are thrilled to partner with investors who share our vision of revolutionizing India's beverage landscape," said Aditya Pai, Co-founder of Misfits. "This funding validates our mission to provide consumers with a guilt-free alternative to sugar-loaded sodas while supporting gut health through innovative prebiotic formulation."

Yash Pai, Co-founder of Misfits, added, "The investment will enable us to scale our operations and introduce new flavors while maintaining our commitment to clean-label ingredients and functional benefits. We're excited to build a brand that resonates with health-conscious consumers across India."

The funding round reflects growing investor confidence in India's functional beverage market, where consumers increasingly prioritize health benefits alongside taste preferences. Misfits' unique positioning as India's first prebiotic soda addresses this evolving consumer demand.

"Misfits represents exactly the kind of innovative brand that can transform traditional categories," said Venk Krishnan, Founder of Nu Ventures.

"The founders have identified a genuine market gap and developed a product that delivers authentic functional benefits while maintaining the taste profile consumers expect from carbonated beverages. Their approach to building a health-focused alternative in the soda category has tremendous potential for market disruption." said Subba Rao Telidevara, angel investor and former industry executive.

Misfits differentiates itself through plant-based ingredients, natural sweeteners, and zero preservatives, appealing to conscious consumers who value transparency and health benefits. The company's clean-label approach includes providing third-party lab reports, enabling informed consumer decision-making and building trust in the functional beverage space.

Founded by brothers Aditya and Yash, Misfits is India's first prebiotic soda brand committed to providing healthier alternatives to traditional carbonated beverages. The Mumbai-based startup combines functional ingredients with bold flavors to create products that support digestive health while delivering the taste experience consumers expect from premium sodas. With its clean-label approach and innovative formulation, Misfits is redefining what fizzy drinks can be in the Indian market.

Starbucks Reports Steep Decline in Sales, Particularly in US (6%) & China (14%)

Starbucks has decided to suspend its financial guidance for 2025 after experiencing a significant decline in sales. The company reported a 7% drop in same-store sales for the fourth quarter ended September 29, 2024, which was twice as steep as analysts had expected.

The decline was particularly pronounced in the US, where transactions were down 10%, and in China, where comparable sales fell 14%.

Financial guidance is a company's forecast or projection of its future financial performance. It typically includes estimates of revenue, earnings, expenses, and other key financial metrics for a specific period, such as a quarter or a fiscal year. Financial guidance helps investors, analysts, and stakeholders understand the company's expectations and make informed decisions.

When a company like Starbucks withdraws its financial guidance, it indicates uncertainty about future performance, which can affect investor confidence and stock prices.

For the fourth quarter of fiscal year 2024, global comparable store sales declined 7%, and consolidated net revenues declined 3% to $9.1 billion, or a 3% decline on a constant currency basis. GAAP earnings per share is $0.80, down 25% over prior year. Non-GAAP earnings per share is also $0.80, declining 24% on a constant currency basis.

The company’s results were primarily driven by softness in North America’s revenues in the quarter, specifically a 6% decline in U.S. comparable store sales, driven by a 10% decline in comparable transactions, partially offset by a 4% increase in average ticket.

Starbucks' New CEO Brian Niccol has acknowledged the need for a fundamental change in strategy to return to growth. He plans to simplify the menu, adjust prices, enhance mobile ordering, and revamp marketing efforts. Starbucks will also focus on making its cafes more inviting and improving morning service.

Fourth Quarter 2024:

• Global Comparable Store Sales: Declined by 7%
• Consolidated Net Revenues: Fell by 3% to $9.1 billion
• GAAP Earnings Per Share: $0.80, down 25% over the prior year.
• Non-GAAP Earnings Per Share: Also $0.80, declining 24% on a constant currency basis. 
• US Sales: Declined by 6%, driven by a 10% drop in comparable transactions, partially offset by a 4% increase in average ticket.
• China Sales: Fell by 14%, with an 8% decline in average ticket and a 6% drop in comparable transactions.

Full Fiscal Year 2024:

• Global Comparable Store Sales: Declined by 2%.
• Consolidated Net Revenues: Increased by 1% to $36.2 billion.
• GAAP Earnings Per Share: $3.31, down 8% over the prior year. 
• Non-GAAP Earnings Per Share: Also $3.31, declining 6% on a constant currency basis

F&B MNC Mondelēz Collab with Accenture and Publicis Groupe to Boost Its Marketing Capabilities Using Generative AI

Mondelēz International has announced a collaboration with Accenture and Publicis Groupe to enhance its marketing capabilities using artificial intelligence (AI) and generative AI. With this collaboration, Mondelēz has launched new platform that aims to improve the creation of personalized content, such as text, images, and videos, allowing Mondelēz to stay ahead of changing consumer preferences.

Mondelēz International, Inc. is a leading American multinational company specializing in confectionery, food, and beverages.

Accenture will help scale and activate the platform through employee training and adoption strategies, while Publicis Groupe will lead the execution and build the AI foundation. Publicis Groupe will be responsible for leading execution and building the gen AI foundation that will power creative assets. Both organizations will work closely with Mondelēz marketing teams to realize the vision of redefining consumer goods marketing.

Mondelēz International, Inc. is a leading American multinational company specializing in confectionery, food, and beverages.

This initiative is expected to drive innovation, gather market insights, and facilitate higher degrees of personalization at every consumer touchpoint.

By leveraging AI and generative AI, Mondelēz can create highly personalized content tailored to individual consumer preferences. This means more relevant and engaging advertisements, promotions, and communications.

AI can automate many aspects of content creation and distribution, reducing the time and resources needed for marketing campaigns. This allows the company to respond more quickly to market to

The AI platform will provide deeper insights into consumer behavior and preferences, enabling Mondelēz to make data-driven decisions. This can lead to more effective marketing strategies and better-targeted campaigns.

With Accenture and Publicis Groupe’s expertise, Mondelēz can stay at the forefront of marketing innovation. This collaboration will help the company experiment with new formats and channels, ensuring they remain competitive in a rapidly evolving market.

Mondelēz operates in approximately 160 countries worldwide. The company was originally part of Kraft Foods Inc. but was rebranded as Mondelēz International in 2012 when Kraft Foods split into two separate entities.

Mondelēz’s product portfolio includes well-known brands such as Cadbury, Oreo, Toblerone, and Ritz. The company focuses on creating delicious snacks and beverages, aiming to bring joy to consumers around the globe.

New Global Food and Beverages Accelerator Launched for Food Brands/Startups in India

Sharda Launchpad Federation by Sharda University Partners with FigFax to Launch Sharda Global Food and Beverages Accelerator

• The accelerator program is set to mentor and fast-track over 50 promising food brands in India
• Prototype/MVP, Early Traction and Scale-up All startups can participate

Sharda Launchpad Federation, a business incubator and accelerator by a renowned educational institution Sharda University embarks on its commitment to fostering innovation and growth, is proud to announced a strategic partnership with FigFax (SnackFax) to launch Sharda Global Food and Beverages Accelerator. The program is set to mentor and fast-track over 50 promising food brands under India’s 1st F&B Accelerator in the next one year.

Inviting entrepreneurs and startups in the food sector to seize this opportunity, Sharda Launchpad commenced registrations on 23rdSeptember. This program is open to a wide spectrum of businesses, including those in food processing, dairy and mechanization, quick-service restaurants (QSR), dining establishments, poultry, logistics, warehousing, infrastructure and mechanization, packaging, beverages, and more. The selection process is set to be highly competitive, with only 20 startups advancing to the next round in the 1st Cohort.

In a dynamic and ever-evolving Indian food and beverage sector, startups and emerging brands often face hurdles when accessing the resources and mentorship needed to scale effectively. Recognizing this gap, Sharda University and FigFax have joined forces to revolutionize the food industry in North India. As a promoter of Sharda Launchpad, the university is committed to nurturing entrepreneurship and innovation in the food industry. The collaboration will provide financial support, access to seasoned mentors, and personalized acceleration programs tailored to address the unique challenges faced by food businesses in North India.

On this association,Vice Chancellor of Sharda University, expressed, “Sharda Launchpad, in collaboration with FigFax, embodies Sharda University’s unwavering commitment to fostering entrepreneurship in North India’s food industry. We envision it as a beacon of hope for aspiring food entrepreneurs, offering them the tools, mentorship, and funding needed to thrive in this vibrant sector. With a shared commitment to innovation and growth, we believe that Sharda Launchpad will be a perfect recipe for startup success as well as economic development in the region, creating a lasting impact on the food business landscape.”

Ashu Agrawal, Founder and CEO of FigFax, affirmed, “In the world of entrepreneurship, the challenge for budding foodpreneurs has always been accessing the right resources and mentorship to turn their dreams into reality. Our tie-up with Sharda University aims to address this gap head-on. For entrepreneurs, this collaboration is fantastic news as it offers them a golden opportunity to spice up their businesses and lead a revolution in the food industry. We extend a warm invitation to all aspiring food business owners to join us on this exciting journey.”

Startups and emerging food brands participating in Sharda Launchpad can anticipate a multitude of benefits. This collaboration will provide financial support, access to seasoned mentors, and personalized acceleration programs, all tailored to address the unique challenges faced by food businesses in North India. The partnership aims to equip startups with the knowledge and tools needed to scale their businesses successfully, covering aspects such as product development, marketing strategies, financial management, and more. Furthermore, Sharda Launchpad will cultivate a collaborative community of food entrepreneurs, encouraging the exchange of ideas and best practices.

Startups willing to register for this program can visit at https://launchpad.sharda.ac.in/food-accelerator and register for this specially curated accelerator program.

About FigFax

Figfax is a dedicated platform with a focus on supporting the growth of the food and beverage industry through strategic investments and unwavering commitment to innovation. The platform stands at the forefront of fostering sustainable growth in the sector.

Figfax aims to empower Food businesses to innovate, expand, and captivate taste buds not just in India but across the globe.

For more Details: www.figfax.com

About Sharda

Sharda University established Sharda Launchpad Federation, a section 8 company registered under the companies act 2013, as a centre for entrepreneurship development with a commitment to contribute to the enhancement of the entrepreneurial skills among aspiring entrepreneurs and startup founders and to "Help people help themselves” through innovation and entrepreneurship. Sharda Launchpad provides a platform for new and emerging small and medium – scale enterprise through its ecosystem connect necessary for the development and management of the enterprise. Passionate and visionary innovators working on large impact scalable business ideas are mentored with multiple opportunities enabling them to become successful entrepreneurs.

Website:https://launchpad.sharda.ac.in/food-accelerator

LinkedIn: https://www.linkedin.com/in/innovationsforimpact-slpf-0a08571bb

Twitter: https://twitter.com/ShardaLaunchpad

BLR Brewing Co. and Great State Aleworks Collaborate To Create Unique Beer Inspired By A Konkani Sweet Dish

BLR Brewing Co., one of Bengaluru's most popular breweries, has collaborated with Great State Aleworks to create a unique beer that celebrates the rich flavors of South India. The Blonde Ale, inspired by the Konkani sweet dish - Patoli, is a light and refreshing beer that is perfect for the hot summers of India.

Brewed using local rice from Karnataka, black jaggery, and coconut, it has a creamy mouthfeel with a hint of coconut that complements the sweet notes of jaggery and rice. With an ABV of 5% and an IBU of 15, this beer promises to tantalize the taste buds of beer enthusiast.

The collaboration between BLR Brewing Co. and Great State Aleworks is a testament to their commitment to pushing boundaries and creating unique flavors that appeal to the Indian palate. The mastermind behind the creation of this beer is the head brewer of BLR Brewing Co., Umang Nair, who teamed up with the talented brewers of Great State Aleworks, Nakul Bhonsle and Divyesh Patil, to bring Blonde Ale to life.

Commenting on the collaboration, Umang Nair, Head Brewer at BLR Brewing Co., said “Such collaborations are so much fun! When we have innovation and passion for craft beers coming together, it creates something truly unique. As Nakul rightly says #drinklocal”.

“When Umang and I started discussing this long overdue collab, we thought of brewing a beer based on a dessert known as Patoli, which is common across the coastal regions of 3 adjoining states: Goa, Karnataka, and Maharashtra. And so, we used coconut, jaggery, and rice in this beer. The resultant beer is a light ale with a hint of a coconut and a creamy mouthfeel!” added Nakul Bhonsle, Founder, Great State Aleworks.

BLR Brewing Co., JP Nagar is a Brewers Hub which has established a reputation for creating innovative and experimental beers through collaborations with other breweries and brewers. Their latest creation, the Blonde Ale, is a true testament to their passion for craft beers. With six beers on tap, ranging from Farmhouse, Hefeweizen, Stout, Coconut Blonde, Pineapple Saison, Belgian Wit and the newest entrant Blonde Ale. The food menu at BLR Brewing Co. is a mix of local flavors to comfort bar food to global cuisines that complements the beer. Great beer, craft cocktails, delectable food and good music—is what defines BLR Brewing Co.

About BLR Brewing Co.

BLR Brewing Co. is one of Bengaluru's largest Brewpark, located in three different locations within the city. The theme of the place celebrates the five elements of Earth, Water, Air, Fire, and Space, bringing them together in one place. With live gigs, DJ nights, and a globally designed menu, BLR Brewing Co. attracts crowds of all ages and interests. BLR Brewing Co. has recently won the Bar with Best Ambiance award by Times Food & Nightlife.

Polka Pop Raises An Undisclosed Amount in Pre-seed Funding

Polka Pop, India's pioneering flavored sparkling water, has secured pre-seed funding from a group of renowned angel investors, including Atishe Chordia, founder of Doodleblue Innovations, Parasar Sarma, a former growth leader at Wakefit, Senthil Natarajan, Managing Partner at Kovai Pazhamudir, and Shikha Gupta, Managing Director of Life Fitness India, Premnath K (Founder & Director, Blue Band Sports Ltd), among others.

The company plans to use the funds to target a monthly sale volume of over 1 lac bottles a month.

As one of the first fizzy drinks in India with 0 sugar, 0 sweeteners, 0 calories, 0 sodium & 0 Preservatives, Polka Pop aims are replacing unhealthy “diet” sodas & tonic waters. Perfect for anyone who is health-conscious, Polka Pop’s unsweetened flavored drink is the perfect mix of fizzy and 100% guilt-free. Launched in early 2021 by Gaurav Khemka (Babson MBA ‘20) the startup is currently selling over 40,000 bottles a month. It is also present across quick commerce platforms such as Swiggy, Zepto & BlinkIt.

Gaurav Khemka, Founder & CEO, Polka Pop

Parasar Sarma (Ex-Wakefit, Growth Leader) added “The rapid growth and widespread acceptance of Polka Pop in the market is impressive. As a homegrown category pioneer in the competitive D2C beverage segment, offering a clean and healthy fizzy drink, Polka Pop has a unique and promising position that is sure to lead to further expansion. I am delighted to take part in this round of funding and to support the company's mission”.

Polka Pop was also the recipient of the TANSEED grant by the TN Government in early 2022 and was shortlisted as YourStory’s Top 500 Challenger Brands. Recently, it was also selected as one of the top 600 startups from over 5700 applicants as part of the upcoming Leap to Unicorn program by IDFC First Bank, Moneycontrol & Headstart.

Commenting on the Fundraise Gaurav Khemka Founder & CEO - “The shift towards leading a healthier & better life is constant! We have seen some of the largest brands in the world built on this. However, the current Indian beverage shelf, including ’diet’ drinks, comes with long-term health concerns. At Polka Pop, we are working on building a clean beverage brand where taste & health go hand-in-hand. I would like to thank the angels for believing in our mission right from the start.''

Over the next 6 months, Polka Pop is focused on targeting hotel chains, bars (Polka Pop makes great cocktails!), restaurants, & office spaces and scale in that segment too. They are also in talks with a few funds regarding the follow-on seed round that will be utilized to build out existing channels & also establish a retail footprint across all major metro cities.

Anthill Ventures Launches Anthill Spirits – India's 1st Speed Scaling Programme for Alco-Bev Startups

• Anthill Spirits will aim to fund up to USD 1 million over the stages of the venture-building process.
• The venture builder accelerator programme will provide funding and market access to entrepreneurs.
• India's alco-bev industry worth USD 50 billion - Anthill Spirits aims to fuel growth.

Anthill Ventures, a global venture capital and speed-scaling ecosystem, has announced the launch of Anthill Spirits, India's first speed-scaling accelerator programme dedicated to supporting early-stage alco-bev start-ups. Anthill Spirits will provide funding and market access to entrepreneurs to help create innovative brands and technologies in the rapidly growing Indian alco- bev industry, which is estimated to be worth close to USD 50 billion by 2023.

Anthill Spirits will aim to fund up to USD 1 million over the stages of the venture-building process, with a compelling vision, a clear business plan and a strong founding team and core team in place. Eligible start-ups must have a running business in at least two key core markets, demonstrate a product-market fit and have a significant market size.

Anthill Spirits' venture builder accelerator programme will provide start-ups with funding and market access, as well as guidance and know-how in areas, such as business model refinement, new product development, marketing, market access, celebrity engagement and stage-based access to capital.

Prasad Vanga, Founder and CEO of Anthill Ventures said, "With our successful speed-scaling mantra, we aim to back courageous entrepreneurs disrupting the alcoholic beverages industry. We bring smart capital to enable the visionary brands and entrepreneurs whom we back to win."

Nayan Deekonda, CEO of Anthill Spirits said, "With the shift in demand from mass and traditional brands to premium/super-premium beverages, we see an opportunity to invest in and support visionary brands and technologies."

Anthill Ventures has a notable portfolio in the alco-bev industry, including award-winning brands like NAO Spirits (Hapusa and Greater Than) in the gin segment, which recently bagged a strategic investment from Diageo, ready to drink and lifestyle beverage brand, Salud, which is redefining the way alcobev marketing is done by adopting techs like NFT, category disruptor and leader in meads, Moonshine, and the first women-led Indian Alcobev craft spirit, Matinee. Anthill Spirits aim to build an ecosystem of founders, partners, mentors, corporates and investors to nurture and scale innovative alco-bev brands.

About Anthill Ventures:

Anthill is a global venture capital and speed-scaling ecosystem that invests in courageous entrepreneurs to build companies of the future. Their intervention enables transformational growth in early-stage companies across Healthcare, Mediatech, Urbantech and Consumer Lifestyle. Their ability to make targeted and timely interventions for start-ups to scale with speed enables them to have stronger growth trajectories through their global partner ecosystem.

About Anthill Spirits:

Anthill Spirits is a speed-scaling ecosystem focused on supporting courageous entrepreneurs who are creating innovative brands and technology to disrupt the alcoholic beverages landscape. Anthill Spirits brings smart capital, which is a combination of investment (money) and advisory (knowledge), to build an ecosystem for Alcobev startups.

'SPYK', India’s 1st Freshly Brewed Seltzer Brand Hits the Streets of Bengaluru

A new hard seltzer is hitting the Bengaluru market and might just be your new go-to drink

Spyk Hard Seltzer, India’s first freshly brewed hard seltzer is all set to take India by storm with their freshly brewed, 100% vegan and natural flavors hard seltzer. Launched in Bangalore, Spyk is an all-natural, brewed beverage for the modern, playful, conscious consumer- the changemakers. Unlike other seltzers that are carbonated cocktail mixes, Spyk is freshly brewed, low-calorie, low- carb, naturally flavored & has a solid 5.5% alcohol with just 2G carbs. It is ideal for the social drink- for your networking meets, night outs to quiet nights at home with its crisp and refreshing taste and low as 100 calories, leaving you with a pleasant, guilt- free buzz.

Spyk Hard Seltzer, is a V9 Seltzer Works company and is brewing at Woodpecker Breweries in Hassan. Spyk was formulated by R&D experts in Canada, who are the world's leading brewing consultants, and also happen to be the formulators of the famous White Claw Hard Seltzer, which took the west by storm.

SPYK 4 variants — Original, Orange, Mixed Berry, Lime

During the launch of Spyk Hard Seltzer, Vimal Chand, CEO & Co-Founder, says, “My partner & I wanted to introduce India to this great product, as soon as we witnessed the seltzer storm in the US. With more than 50% of India’s population being under 35, we saw the immense potential for a truly millennial product. We’re inspired by the new age of consumers, the generation that loves to work hard & play harder, that’s known to be the life of every party. We’ve created a drink that’s for everyone, for every occasion, a drink that adapts itself to you, whether you’re someone who lives to drink or someone who only enjoys the occasional sip. Simply put, we make sure that an exciting night on the town isn’t followed by a regretful morning after.

We are confident about our product and given that we are India's first brewed hard seltzer, which is also low cal, low carb, and no added sugar, we have a significant competitive edge over the existing players in the market.”

Vamsi Krishna, CMO & Co-Founder, Spyk Hard Seltzer, also added saying, “Bangalore has also always been known to be a city that is explorative among other metropolitan cities, which made it the perfect city to launch a young, progressive brand like Spyk. We see Spyk as a disruptor & market leader in the hard seltzer space. We aim to give social drinking a facelift”

Spyk will be launching four delicious variants ranging from flavors like Lime, Orange, Mixed Berry and Original. Priced at INR 150 for 330 ML and INR180 for 500ML. Spyk is also aiming to expand its presence in Hyderabad, Maharashtra and Goa soon after their Bangalore, Karnataka launch.

Strong yet restrained, Spyk’s 5.5% ABV is ideal for a perfectly balanced lifestyle, allowing you to let loose on a night out and still tick off your early morning workout. Their array of freshly-brewed, delicious flavors are light, refreshing, and give you the thrill of Saturday night and help you ease down on a Sunday morning all at once.

About SPYK:

Spyk Hard Seltzer is the first of its kind in India, made from the finest quality ingredients and carefully crafted to deliver a refreshing, flavorful drinking experience that is both light and satisfying. Spyk Hard Seltzers are 5.5% ABV, 2G CARBS, ONLY 100 CALS AND 0 ADDED SUGAR.

About V9 Seltzer Works Pvt Ltd:

V9 Seltzer Works Pvt Ltd is a new age beverage company that was founded in 2018 by Vamsi Krishna and Vimal Chand, two friends who thoroughly enjoyed hard seltzer during their time in the US- where the seltzer storm has taken over. With the vision of being the market in the hard seltzer segment in India, V9 Seltzer Works is proud to launch India’s First Brewed Hard Seltzer- Spyk. Spyk was developed by world renowned brewing consultants, and is being manufactured at a contract brewing facility in Karnataka.

V9 is based out of Hyderabad, and also has operations in Bangalore- where Spyk has also first launched. Spyk will be available in Hyderabad very shortly, after which they plan to become available pan india gradually. V9 is currently privately funded, and has an elaborate growth plan.

Indusfood, the Largest Integrated F&B Trade Show in South Asia to Be Held in Hyderabad

The who-is-who of F&B industry in India and some top players in the world to come to the city

The first ever show in Telangana will host 1,200+ world class buyers from 80 plus countries interfacing with 550+ Indian exhibitors.

The three-day event is expected to negotiate aggregate business deals worth US$ 1 billion+.

Indusfood, the largest integrated F&B trade show in South Asia, comes to Hyderabad. The 6th edition in the row and first in Telangana will be held at Hitex from January 8 to 10th.

The who-is-who of the F & B industry in India and all over the globe is to participate in the show. The show ​will be​ organised by the Trade Promotion Council of India (TPCI), an apex trade and investment promotion organization notified in the Foreign Trade Policy. TPCI is also recognized and supported by the Department of Commerce, Govt. of India.

Indusfood 2023 to redefine India’s F&B economy. Many F&B start-ups, Knowledge-driven collaboration, Sustainability & Growth at the forefront for Indusfood 2023.

The few highlights include 1,200+ world class buyers from 80 plus countries interfacing with 550+ Indian exhibitors. It will be spread over an exhibition area covering 26,000 sq feet. Indusfood takes the lead in commemorating the International Year of Millets, 2023 with a special showcase of millets in its 6th Edition. Unprecedented number of start-ups to exhibit. It will have a special focus on Indian market opportunities with buyers representing modern trade, e-commerce QSRs, airlines, etc

The show expected an export business of US$ 1 billion to be closed at the show.

Indusfood has grown rapidly to become the largest integrated F&B trade show in South Asia over the past five years. Speaking at the event, Founder Chairman TPCI, Mohit Singla said, “Indusfood has provided a dedicated and powerful platform for the Indian F&B industry to promote its strengths and expand its horizons in the international market. Over the past five years, it has become the sole catalyst for robust growth in India’s processed food exports, by ensuring direct linkages with global buyers.”

India’s F&B exports were recorded at US$ 42 billion in 2021, growing at a CAGR of 6.7% YoY since 2017. Correspondingly, processed food exports have grown at a particularly robust pace of over 20% during the period to reach US$ 8 billion in 2021. During January-October, 2022, processed food product exports have further accelerated by 32% YoY to reach US$ 8.6 billion. “We are positive that Indusfood 2023 will play a catalytic role in building on this strong growth momentum both internationally and in the domestic market,” Singla added.

Top global sourcing giants of the F&B industry such as – Mohamed Mustafa & Samsuddin Co Pte Ltd (Singapore), Shrijees Supermarket (Tanzania), Apna Bazar (US), Grand Hyper (UAE), Nesto (UAE), Choithrams (UAE), Lulu Group International (UAE), Noon.com (UAE), City Centre Central Markets (Kuwait), Babasons WII (Bahrain) and many more will be visiting the show.

Indusfood 2023 is giving focussed attention to domestic F&B opportunities, considering the strong growth potential in the Indian market. A number of modern trade players, e-commerce firms, QSRs, airlines and startups from India will be present at the marquee event.

Millets, the wonder crop to combat climate change, will be the spotlight product category at Indusfood 2023. This is in commemoration of the International Year of Millets 2023, which was announced by the UN General Assembly, after India’s proposal to that effect received widespread support. The event will feature an extensive range of millet-based food products, sessions by industry experts and exclusive millet recipes by celebrity chefs.

TPCI will also inaugurate Indus Knowledge Hub during the show. A novel initiative to fuel knowledge-driven collaboration, Indus Knowledge Hub will involve a series of exciting seminars and panel discussions, wherein global leaders in the space will share best business practices, opportunities, challenges and growth prospects for Indian F&B players.

Indusfood 2023 will feature a variety of food & beverage products from India, including raw and processed, alcoholic/non-alcoholic, organic, healthy, plant-based, ready-to-eat and ethnic, across over 16 zones. This year, an unprecedented number of promising F&B start-ups are exhibiting at the event. Furthermore, plant-based food, health food, organic and dairy categories have seen stronger participation.

Piramal Enterprises and Bain Capital Promoted IndiaRF Invests ₹ 550 Cr in Impresario Entertainment and Hospitality Pvt Ltd

IndiaRF Announces INR 550 Crores Investment in Impresario Entertainment and Hospitality Private Limited

India Resurgence Fund (“IndiaRF”), a leading India-focused investment platform promoted by Piramal Enterprises Limited and Bain Capital, today announced an investment of INR 550 crores in Impresario Entertainment and Hospitality Private Limited (“Impresario” or the “Company”). Following the transaction, IndiaRF has become the majority shareholder of Impresario.

Restro-Bar Social by Impresario

The fresh capital will help fuel the further expansion of Impresario’s business, which also received an investment from L Catterton in 2017 and has since demonstrated resilient growth over the years despite facing challenges posed by the COVID-19 pandemic. Significantly, the Company continues to be underpinned by robust fundamentals and currently owns and manages iconic brands such as SOCIAL, Mocha, and Smoke House Deli which enjoy high recall across urban India and span over 60 locations across 17 cities in the country.

Impresario’s largest brand, SOCIAL, has 35 outlets and is an extremely popular spot for guests to socialise and network. It offers innovative food and beverage (“F&B”) at attractive price points with an immersive experience and exciting ambience, which doubles up as a co-working space in the day, facilitating exceptional levels of interaction and community engagement. The Company’s other popular brands Smoke House Deli, Mocha, Slink & Bardot, and Salt Water Café provide contemporary formal and casual settings for friends and family to get together over delectable culinary offerings.

In the future, Impresario plans to double its number of outlets as India’s F&B market gets more organised, with growth in the high teens expected over the coming years. To serve the country’s burgeoning middle class, as well as millennial and Gen Z consumers who are looking for refreshing and engaging experiences as they dine out more often amid the market’s evolution, the Company will enlarge its current geographical footprint from 17 to more than 30 cities as part of its expansion plan.

Commenting on the investment, Shantanu Nalavadi, Managing Director of IndiaRF, said, “IndiaRF is delighted to partner with Impresario, which has built a profitable business on the back of strong brands, a professional team and a culture that allows the Company to stay nimble and creative. We plan to work alongside and augment the efforts of the management team, by leveraging on our deep operational engagement across multiple sectors. We believe that the next decade will see significant opportunities for Impresario as non-metro cities come up India’s aspirational curve and become major economic centres.”

Riyaaz Amlani, Founder and Managing Director of Impresario, added, “While the journey through the pandemic was especially tough for the restaurant sector, we were able to not only sustain, but also strengthen our business. As we now begin a new chapter with IndiaRF, we look forward to a fruitful collaboration which we believe will propel Impresario to an exciting next stage of growth. We look forward to building on the momentum we have generated over the years as we partnered with L Catterton, which shared its consumer insights and industry expertise with us to help us grow.”

Chinta Bhagat, a Managing Partner in the Asia fund of L Catterton, concluded, “Impresario is a pioneer in India’s casual dining category and we are happy to have contributed to its journey of redefining dining experiences across the country. Riyaaz and his team are committed to continuously innovating, keeping their concepts fresh and relevant, as well as delivering great customer experiences. We believe they are well positioned for further success as they continue to grow their footprint across India.”

Lodha Capital Markets was the exclusive financial adviser to L Catterton and Impresario on the transaction.

About India Resurgence Fund

India Resurgence Fund (“IndiaRF”), promoted by Piramal Enterprises Limited and Bain Capital, invests capital from its $629mn first fund along with its co-investors in both debt and equity control investments across sectors in the Indian market. IndiaRF looks to invest in businesses that have fundamentally strong growth prospects linked to consumption and infrastructure needs of India. For more information, please visit: http://www.indiarf.com.

About Impresario Entertainment and Hospitality Private Limited

Impresario Entertainment and Hospitality Private Limited (“Impresario”) was founded in 2001 with its maiden venture Mocha – Coffees and Conversations. Today, Impresario boasts of a network of 63 restaurants across 17 Indian cities. Its umbrella of brands includes scaled brands such as SOCIAL, Smoke House Deli, and Mocha, as well as boutique one offs such as Salt Water Café and Slink & Bardot. It also owns and operates dark kitchen brands like BOSS Burger, Lucknowee and HungLi. The company’s core strength lies in understanding the changing dining habits of young India and delivering quality experiences tailored to delight its patrons.

About L Catterton

With more than $33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton's team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. For more information about L Catterton, please visit lcatterton.com.

Here're 7 F&B Startups Picked By Climate Angels Under Its ‘Zero-Single-Use Plastic Challenge’

VC firm Climate Angels selects seven start-ups in the F&B Industry under the ‘Zero-Single-Use Plastic Challenge’

Climate Angels is helping incorporate sustainable alternatives to Single-Use Plastics in the F&B Industry

After going through a multilayered selection process over the last month, seven startups have been selected by Climate Angels for the ZeSUP- Zero Single-Use Plastic Challenge to deploy their solutions with the incubators’ F&B partners which include Rebel Foods, Burger Singh, and The Beer Café. The selected startups are currently gearing up for a six-month Bootcamp program which would run alongside the pilots.

The program aims to support these ventures throughout their entrepreneurial journey, from curating sessions on the stepping stones of the business world to crafting the perfect story while pitching to investors the program would leave no stone unturned in helping these pioneering startups on their journey to eradicate Single-Use Plastics from India.

“With the onset of the pandemic take-aways and home delivery options replaced the traditional dine-in restaurants, and this worked as a stimulant to increase the usage of Single-Use Plastics in the industry. The Incubation Network crafted this one-of-a-kind challenge to deal with this problem head-on. Climate Angels was chosen as the Entrepreneur Support Organization to lead the challenge. We are excited to see these high-potential startups take up the challenge of removing the ubiquitous SUPs, the next 6 months would be very action-packed for us and we cannot wait to get started”, said Shailesh Vickram Singh, Founder of Climate Angels.

The selected startups include:

1. Qudrat (Trivandrum, India) provides a perfect substitute for single-use plastic and disposable paper tableware like plates, cups, trays, and containers. Qudrat’s products are engineered to have a low carbon footprint and are manufactured in a zero-waste facility.
2. Imaga’s (Delhi, India) product line enables sustainability in food delivery. It has already enabled over 500 businesses across India to shift away from plastic packaging and use bamboo fiber, sugarcane fiber, and other sustainable materials to combat plastic and other sources of carbon emission that food and retail businesses struggle with
3. Sunbird Straws (Bengaluru, India) makes drinking straws for a wide range of drinks from coconut leaves and are developed in-house and the operations employ several rural women. Sunbird has a global customer base.
4. Cupable (Mumbai, India) manufactures reusable packaging made from crop waste which is 100% reusable, refillable, and recyclable. Their packaging has a Unique ID that helps them track and implement circular systems to eliminate single-use plastic.
5. Embuer Health (Delhi, India) has been innovating, manufacturing, and marketing eco-friendly sustainable, and biodegradable products catering to industries especially FMCG, F&B and Beauty Spa at an affordable price for the masses. Their star products include Kitchen Wipes, Kitchen Rolls, Roti Wrap, Food Wrap, Paper Straw, Dona Patal & Food Service Disposables.
6. Refillable (Mumbai, India) is a zero-waste refill service. The startup helps brands adapt to reusable and refillable packaging in their existing supply chain through their network of refill trucks, bikes, pouches, and reverse logistics partners. Their aim is to make refills accessible, affordable, and convenient for consumers by onboarding brands on their refill trucks, redesigning their existing packaging, and reusing it thoroughly.
7. Biogreen biotech (Bengaluru, India) are wholesalers and suppliers of 100% compostable substitutes to plastic grocery, carry bags, and everyday single-use products. Their products are also non-toxic to the environment, animals, and plants.

The ZeSUP Challenge aims to make India SUP free. The information gained by the pilots will be used to drive extensive research and helo us gain a better understanding on the F&B Single-Use Plastic consumption and the environmental benefits of using alternatives to single-use plastic options.