Oct 31, 2014

HOME MADE FOOD STARTUP ID FRESH FOOD RAISES Rs.35 Crores

HOME MADE FOOD STARTUP  ID FRESH FOOD RAISES Rs.35 Crores

Helion Venture Partners  an India-focused multi-stage VC firm invested $5.6 million in iD Fresh and as part of the deal, Rahul Chowdhri, partner, Helion, will join the board of the company. This is the first round of institutional fundraising by iD Fresh Food a Bangalore based ready to packaged South Indian food product Startup.

Who founded iD Fresh Gourmet Foods?
It was Founded in 2005 by IIM Bangalore alumnus, PC Musthafa and his associates, Shamsudeen TK, Abdul Nazer, Jafar TK and Noushad TA.

Where are iD Fresh Foods Production units located?
iD has production units in six cities, including two plants in Bangalore and one each in Chennai, Mumbai, Hyderabad, Mangalore and Dubai.

How will iD Fresh Foods use the funds raised in First round?
  • Invest in new product categories
  • Accelerate geographic expansion to 30 cities
  • Augment the team
  • Hire food sciences experts
What kind of Partnerships iD Fresh is looking for  apart from funding?
iD Fresh is looking for partners who could support with
  • Strategic decision making
  • Expertise in Fresh food domain
  • Access to network

What is the Valuation of iD Fresh Startup company?
According to retail advisory Technopak  iD Fresh is valued at Rs 2,000 crore in size and will become a Rs. 1000 Crore company by 2020.

What is the future of Home Food business in India?
The future is very bright as more and more women starting to work outside the home, the potential to consume home made food is very large.

iD Fresh Startup Business Numbers
Idly Batter sold this year: 10 million kilos
Price per Kilo: Rs.50
Vehicles used to ship the product: 90
Routes travelled: 90
Outlets Retail:  Products available in 6000 outlets in eight cities
Monthly Sales : Rs.7 crore

How does iD Fresh keep their products fresh?
With strong distribution and backend technology, we have perfected the ‘zero-inventory’ model, making sure to reach daily supplies to retail stores based on demand.

Future Plans of iD Fresh
To promote Indian breakfast across the globe

What's the market size of Gourmet Food in India?
The size of the gourmet food market in India is estimated at Rs 6,500 crore, growing at a CAGR of 20% year on year.

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Tags: iD Fresh Food (India) Pvt. Ltd. gourmet, bangalore, startup, india, Helion Advisors Pvt. Ltd, idea, revenue, model, food, fresh, packaged,

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