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Funding Winter hits D2C Meat Startup Fipola; Startup shuts down Operations

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Online D2C and retail meat brand Fipola has shut operations as the brand failed to raise capital due to the unfavourable market conditions. As of December 2021, it had 48 stores across Chennai, Coimbatore, Hyderabad, Vellore, Puducherry and Bengaluru.

It has plans of expansion with INR 40 Cr infusion, as announced in 2022 with Actress Nayanthara as Brand Ambassador.

Fipola’s closure is a blow to the Indian startup ecosystem, which has seen a difficult funding environment in recent times. Several startups across various sectors have struggled to secure investments, leading to many of them shutting down or downsizing their operations.

Fipola’s demise is notable since it was a promising player in the D2C meat delivery segment, which has seen significant growth in recent years. The company’s plans to expand to 250 stores by the end of 2023 showcased its ambitious goals, but the inability to raise funds and the unfavorable market conditions proved too challenging.

The startup’s founder said, “We are not able to raise the required funds due to the bad market. We have moved to liquidate the assets of the company. As already informed, we are an asset-rich company and not a tech startup. We have informed everyone and our channel partners, vendors etc. that the liquidation process has begun and that everyone shall be settled by April.”

The legal notice from operational creditors and the non-payment of salaries to employees highlights the challenges faced by the company in its final days. The closure also leaves many customers and employees in a lurch, with the former unable to access the app and the latter unpaid for two months.

The closure of Fipola and other VC-funded startups is an indication of the funding winter that has gripped India’s startup ecosystem. Several factors have contributed to the funding crunch, including the COVID-19 pandemic’s impact, regulatory changes, and investor caution towards startups.

However, experts remain optimistic about the future of the Indian startup ecosystem, given its resilience and the government’s efforts to promote entrepreneurship. With continued support from investors and the government, the ecosystem is expected to bounce back, and promising startups like Fipola could rise again.

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Blue Tea Bags INR 75 Lakhs from Aman Gupta on Shark Tank India

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BlueTea was founded in 2018 with a mission to bring back ancient Indian Ayurveda-based flower teas to the world. Ayurveda is an ancient system of natural medicine that originated in India over 5000 years ago. It is based on the belief that a balanced mind, body, and spirit are essential for good health and well-being. BlueTea aims to promote these principles by providing teas that are both healthy and convenient for consumers.

The company’s focus on convenience is evident in the way they have packaged and marketed their products. BlueTea is available in easy-to-use sachets that can be brewed in just a few minutes, making it an ideal choice for busy people who want to enjoy a healthy cup of tea without any fuss. The sachets are also perfect for people who are on-the-go, as they can be easily carried in a bag or purse.

One of the unique selling points of BlueTea is that it contains 0 percent caffeine. This makes it an excellent alternative for people who are sensitive to caffeine or who want to avoid it altogether. Unlike green tea, which is made from tea leaves and contains caffeine, BlueTea is made from flowers that do not contain caffeine. This means that it is herbal in its truest form and has a unique taste that is quite different from traditional teas.

Sunil Saha, Co-founder, BlueTea said “It was an enriching experience to be on Shark Tank India. We feel extremely delighted to have had the opportunity to be funded by Shark – Aman Gupta. We envision a bright future for BlueTea where we aim to revolutionize tea-consumption habits worldwide. BlueTea is envisioned to bring back the lost thousand years of glory – the ancient ayurvedic flower teas to your doorstep,”

Nitesh Singh, Co-founder, BlueTea, said, “BlueTea is a tea brand which is providing convenience to the consumers as they enjoy flower teas; teas which are truly herbal in their essence. Shark Tank was a great opportunity for the brand and we will ensure to leverage the plethora of opportunities that it has opened for us. We are hopeful to make a 5X turnover in FY 2023 and there will be no stopping going forward.”

BlueTea aims to revolutionize the tea-consumption habits of people worldwide by promoting the health benefits of its herbal teas. The company hopes to establish itself as a specialty tea by creating a new category of herbal teas that are both healthy and delicious. BlueTea’s goal is to surpass the popularity of green tea, which is often associated with slimming but has a bitter taste and is known for its ineffective slimming results.

The company gained recognition by appearing on Shark Tank India, where it secured a INR 7.5 million investment from Shark Aman Gupta, Co-Founder-CMO of boAt. The brand faced criticism from Anupam Mittal, Founder, and CEO of Shaadi.com – People Group, but was ultimately able to secure a deal with Aman Gupta. The initial ask was for Rs 75 lakh for 1 percent equity, valuing the company at Rs 75 crore. Aman Gupta offered Rs 15 lakh for 5 percent equity and 60 lakhs debt at 12 percent interest. The pitchers countered with Rs 50 lakh for 2 percent equity and 25 lakhs debt at 12 percent interest. The brand was able to successfully finalize a deal with Aman at Rs 50 lakh for 3 percent equity and Rs 25 lakh debt at 12 percent interest.

BlueTea has expanded globally and currently supplies and distributes its teas to 12 countries, including the USA, UK, Canada, Germany, Australia, and France. In just three years, the company has experienced massive growth, with an initial turnover of Rs 25 lakh in 2018 and closing with a turnover of Rs 10 crore in FY 2022. The brand aims to achieve a turnover of Rs 25 crore this year, with the majority of its sales coming from the USA and India.

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Dahi Bhalle: A Creamy and Tangy treat to celebrate life

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SnackTeam
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Dahi Bhalle, also known as Dahi Vada, is a popular street food in India, particularly in the northern region. It consists of deep-fried lentil dumplings, soaked in a sweet and tangy yogurt sauce, and garnished with a variety of spices and chutneys.

Here’s a recipe to make Dahi Bhalle:

Ingredients:

  • 1 cup urad dal (split black lentils)
  • 1/2 cup moong dal (split green gram lentils)
  • 1/2 inch ginger, grated
  • 1 green chili, finely chopped
  • Salt to taste
  • Oil for deep frying

For the yogurt sauce:

  • 2 cups plain yogurt
  • 1/2 cup water
  • 2 tablespoons sugar
  • 1/2 teaspoon salt

For the garnish:

  • 1/2 teaspoon red chili powder
  • 1/2 teaspoon roasted cumin powder
  • 1/4 teaspoon black salt
  • 2 tablespoons tamarind chutney
  • 2 tablespoons mint chutney
  • Chopped coriander leaves

Instructions:

  1. Wash the lentils and soak them in water for 4-5 hours. 
  2. Drain the water and grind the lentils to a smooth batter in a blender. Add a little water if required.
  3. Add grated ginger, chopped green chili, and salt to the batter and mix well.
  4. Heat oil in a deep frying pan. Wet your hands with water and take a small portion of the batter in your hand. 
  5. Flatten it slightly and make a small hole in the center. Gently slide the vada into the hot oil.
  6. Fry the vadas until they are golden brown and crisp. 
  7. Remove them from the oil and place them on a paper towel to remove excess oil.
  8. In a bowl, whisk the yogurt with water, sugar, and salt to make a smooth and runny yogurt sauce.
  9. To assemble, place the vadas in a serving dish and pour the yogurt sauce over them. 
  10. Garnish with red chili powder, roasted cumin powder, black salt, tamarind chutney, mint chutney, and chopped coriander leaves.

Your delicious Dahi Bhalle is ready to serve!

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Coca-Cola owned Costa Coffee to have Philippe Schaillee as New CEO

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SnackTeam
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On April 10, Coca-Cola Co. subsidiary Costa Coffee announced that Philippe Schaillee would become their new Chief Executive Officer. Mr Schaillee, who previously held the position of Executive Vice President of Products and Innovation at Groupe SEB, will be taking over the role from Jill McDonald.

Before his role at Groupe SEB, Mr Schaillee spent five years as President of Jacob Douwe Egberts Group’s professional coffee division, where he oversaw the development and growth of the division. He also has over 13 years of experience in various leadership roles at Sara Lee, a global consumer packaged goods company.

Evguenia (Jeny) Stoichkova, president of Global Ventures for The Coca-Cola Co. Said “Philippe is an outstanding leader who comes to Costa with a deep background in business and a passion for building great brands,” and added, “We look forward to working with Philippe to expand on the plans we have developed to grow Costa, both in its home country of England and beyond.”

Mr Schaillee’s educational background includes a Bachelor’s degree in Economics from Catholic University Leuven and a Master’s degree in Business Administration from Vlerick Leuven Ghent Management School. These qualifications, combined with his extensive experience in the coffee and consumer packaged goods industries, make him well-suited for the role of CEO at Costa Coffee.

Jill McDonald, who has served as CEO of Costa Coffee since 2018, will be succeeded by Mr Schaillee. Under her leadership, the company has undergone significant changes, including a focus on sustainability and digitalization. Mr Schaillee will be taking over at an exciting time for Costa Coffee, as the company continues to expand its global footprint and introduce new products and services to customers around the world.

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Methi Chawal: A recipe to emboss the Fragrance of Indian Cuisine

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SnackTeam
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Methi Chawal is a popular Indian rice dish that combines the flavors of methi (fenugreek leaves) with rice, making it a delicious and aromatic one-pot meal. Methi is known for its medicinal properties and is widely used in Indian cuisine. This rice recipe is best paired with curd or raita on a Sunday afternoon, soaking the warm and cozy ambiance. 

To prepare Methi Chawal, here’s a simple recipe:

Ingredients:

  • 1 cup basmati rice
  • 2 cups water
  • 2 cups fresh fenugreek leaves (methi), chopped
  • 1 medium-sized onion, finely chopped
  • 2-3 garlic cloves, minced
  • 1 teaspoon cumin seeds
  • 1 teaspoon mustard seeds
  • 2-3 green chilies, slit lengthwise
  • 1 teaspoon turmeric powder
  • 1 teaspoon red chili powder (optional)
  • 2-3 tablespoons oil or ghee
  • Salt to taste

Instructions:

  1. Wash the rice and soak it in water for 20-30 minutes.
  2. In a large pan, heat oil or ghee and add cumin seeds and mustard seeds. 
  3. Once they start to splutter, add chopped onions and garlic, and sauté until the onions turn golden brown.
  4. Add the chopped methi leaves and green chilies to the pan and cook until the methi leaves are wilted and cooked.
  5. Add turmeric powder and red chili powder (if using) and stir well.
  6. Drain the soaked rice and add it to the pan. Mix well and cook for 1-2 minutes.
  7. Add 2 cups of water and salt to taste. Mix well and bring it to a boil.
  8. Reduce the heat to low and cover the pan with a tight-fitting lid. 
  9. Cook for about 15-20 minutes or until the rice is cooked and the water is absorbed.
  10. Turn off the heat and let it sit for 5-10 minutes. 
  11. Fluff the rice with a fork and serve hot with a raita or any side dish of your choice.

Methi Chawal is a healthy and flavorful dish that can be enjoyed for lunch or dinner. It can be made in different ways by adding spices and vegetables of your choice.

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Boondi Ladoo: A Traditional Recipe to experience the Rich Flavours of India

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SnackTeam
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Boondi Ladoo is a popular Indian sweet made from tiny, deep-fried gram flour balls which are then combined with sugar syrup and various spices to create a delicious, melt-in-your-mouth dessert. Because of its taste and flavor, Boondi Ladoo is one of the most popular sweets among Indian families.

Ingredients:

  • 2 cups of besan (gram flour)
  • 1 1/2 cups of water
  • 2 cups of sugar
  • 1 1/2 cups of ghee or oil for frying
  • 1/2 teaspoon of cardamom powder
  • A pinch of saffron
  • A handful of chopped almonds and pistachios

Instructions:

  1. In a mixing bowl, add the besan and slowly add water, whisking continuously until a smooth batter is formed. The consistency should be similar to pancake batter.
  2. Heat ghee or oil in a deep frying pan. Using a slotted spoon, pour the batter onto the spoon and hold it over the hot oil.
  3. Gently tap the spoon or use a ladle to release small drops of batter into the oil. Fry the boondis until they turn golden brown and crispy, then remove them from the oil and drain them on a paper towel.
  4. In a separate pan, add sugar and water and cook on low heat until the sugar dissolves.
  5. Increase the heat and continue cooking until a one-string consistency is formed. Add cardamom powder and saffron to the sugar syrup and mix well.
  6. Add the fried boondi to the sugar syrup and mix well. 
  7. Let it rest for 5-10 minutes until the syrup is absorbed by the boondi.
  8. Take small portions of the boondi mixture and shape them into round balls (ladoos) with your palms.
  9. Garnish with chopped almonds and pistachios and let them cool.

Your delicious and aromatic Boondi Ladoo is ready to serve! These sweets can be stored in an airtight container at room temperature for up to a week. Enjoy this popular Indian dessert as a treat on special occasions or during festive seasons.

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Shrikhand Recipe: The Traditional Indian Dessert that is memorable everytime

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SnackTeam
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Shrikhand is a traditional Indian sweet dish that originated in the western state of Gujarat. It is a creamy and thick dessert made with strained yogurt, sugar, and aromatic spices like cardamom and saffron. Shrikhand is often served as a dessert after a meal or on special occasions like festivals and weddings.

Ingredients:

  • 2 cups of plain yogurt
  • 1/2 cup of powdered sugar
  • 1/4 teaspoon of ground cardamom
  • A pinch of saffron threads
  • 1 tablespoon of warm milk
  • 1 tablespoon of sliced almonds and pistachios for garnish

Instructions:

  1. Take a cheesecloth or muslin cloth and line it over a strainer. 
  2. Pour the plain yogurt into the cloth and let it drain for at least 4-5 hours in the refrigerator until all the excess water is removed.
  3. Once the yogurt has been strained, take it out of the cloth and transfer it into a mixing bowl. Add powdered sugar and mix it well until the sugar dissolves completely.
  4. Now add the ground cardamom to the mixture and mix it well. You can also add a pinch of saffron threads to the mixture for additional flavor and aroma.
  5. In a small bowl, soak the saffron threads in warm milk for a few minutes until the milk changes its color.
  6. Add the saffron milk to the yogurt mixture and mix it well until the color is evenly distributed.
  7. Transfer the shrikhand into a serving dish and garnish it with sliced almonds and pistachios.
  8. Refrigerate the shrikhand for at least an hour before serving to allow the flavors to blend.

Shrikhand can be served chilled and is best enjoyed as a dessert after a meal. It is also commonly served with puri (fried Indian bread) to make a dish called Poori-Shrikhand.

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Puran Poli: Recipe of a Treat and Taste of every Indian Tradition

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SnackTeam
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Puran Poli is a traditional Indian sweet flatbread that is typically made during festivals and special occasions. It is a popular dish in Maharashtra, Gujarat, Karnataka, and Tamil Nadu. It’s a simple flat bread recipe stuffed with a sweet lentil filling made from chana dal and sugar. You can also use Bengal gram and jaggery. The sweet filling is known as Puran in Marathi, and the outer bread is known as Poli. 

It is a delicious side dish with rich flavors that is also extremely simple and quick to prepare. This dish is popular with people of all ages and can even be packed for tiffin. 

Here is a simple recipe for Puran Poli:

Ingredients:

  • 1 cup of chana dal (Bengal gram)
  • 1 cup of jaggery
  • 1 cup of all-purpose flour (maida)
  • 1/4 tsp of turmeric powder
  • 1/4 tsp of cardamom powder
  • 2 tbsp of ghee (clarified butter)
  • Water, as needed
  • Salt, a pinch

Instructions:

  1. Rinse the chana dal in water and then soak it in water for at least 2 hours.
  2. Drain the water from the chana dal and transfer it to a pressure cooker. Add 2 cups of water, a pinch of salt, and turmeric powder.
  3. Pressure cook the chana dal for 3-4 whistles or until the dal is soft and well-cooked.
  4. Drain the excess water from the cooked chana dal and transfer it to a pan. Add jaggery and cook the mixture over medium heat until the jaggery is melted and well combined with the dal.
  5. Stir the dal-jaggery mixture frequently to prevent it from sticking to the pan. Once the mixture thickens and comes together as a soft and moist dough, turn off the heat.
  6. Add cardamom powder to the dal-jaggery mixture and mix well.
  7. Let the mixture cool down a bit and then knead it into a smooth dough.
  8. Divide the dough into equal-sized balls.
  9. In a separate bowl, mix the all-purpose flour, a pinch of salt, and enough water to make a soft and pliable dough.
  10. Roll out a small ball of the all-purpose flour dough into a small disc.
  11. Place a ball of the chana dal-jaggery mixture in the center of the disc.
  12. Bring the edges of the disc together and pinch to seal the edges. Flatten the stuffed ball and roll it out gently into a flatbread.
  13. Heat a tawa (griddle) over medium heat and place the rolled-out puran poli on it.
  14. Cook the puran poli on both sides until it turns golden brown in color. Apply ghee to both sides while cooking.
  15. Serve hot with ghee or milk.

    Enjoy your delicious Puran Poli!
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FreshToHome bags $104 Mn Funding; Aims to make Meats & Seafood Accessible and Affordable

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SnackTeam
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Fresh2Home

Fresh fish and meat e-commerce platform FreshToHome on Tuesday said it has raised $104 million in a Series D funding round led by Amazon Smbhav Venture Fund along with E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka.

Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital and others also participated in this round.

The funds will strengthen FreshToHome’s mission to make 100 per cent preservative and antibiotic-residue-free fish, seafood, and meat accessible and affordable to millions of meat lovers.

Launched in 2015, FreshToHome operates in more than 160 cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products.

Two years ago, FreshToHome raised $121 million in its Series C round, led by Dubai’s Investment Corporation of Dubai, Investcorp, IronPillar, and Ascent Capital and US Government’s development finance institution — DFC.

FreshToHome said that on a company-wide basis, it is now operationally profitable.

“Our vision with the $250 million Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology-enabled companies led by visionary founders,” said its spokesperson.

“We are excited to partner with FreshToHome for the next phase “f its growth,” the spokesperson added.

Shan Kadavil, CEO and Co-founder, FreshToHome “We are now a ‘Pro’icorn’ with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees and investors, our focus is on profitability and sustainable value creation.”

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How Sesame Oil can take your Cooking to the Next Level?

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SnackTeam
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sesame oil

Sesame oil has been a staple in Asian cooking with its aromatic notes flavoring our dishes for many years now. Not only is it a healthy oil to use in your cooking, but it also has a unique flavor that can enhance the taste of your dishes, broths, and soups. Sesame oil is available in both light and dark varieties. Light sesame oil is made from raw sesame seeds and has a mild flavor, while dark sesame oil is made from toasted sesame seeds and has a stronger, more intense flavor. The use of this seed-based oil is not concise, along with enhancing flavor it is great for your health and heart.

Sesame oil has a unique flavor that can enhance the taste of your food, especially in Asian-style dishes. It has a nutty, almost smoky flavor that can add depth to a dish. When used in small quantities, sesame oil can complement other flavors in a dish, without overwhelming them.

In addition to its flavor, sesame oil also has a distinct aroma that can enhance the overall eating experience. When added to a hot dish, the aroma of sesame oil can be released, adding another layer of flavor and sensory experience.

Using Sesame Oil in Broths and Soups

Sesame oil can also be used to enhance the flavor of broths and soups. Adding a few drops of sesame oil to a broth or soup can add a depth of flavor that is often missing in these dishes. The nutty flavor of sesame oil can complement the other ingredients in the soup or broth, making it more satisfying and delicious.

Sesame oil is also a great way to add richness to vegetarian soups and broths. Because it is an oil, it can help add a certain level of mouthfeel and richness that is often missing in vegetarian dishes.

Tips for Using Sesame Oil

When using sesame oil in your cooking, it is important to use it sparingly. Because it has a strong flavor, a little goes a long way. Too much sesame oil can overpower the other flavors in a dish, making it taste unpleasant.

It is also important to use the right type of sesame oil for your dish. Light sesame oil is best used for cooking and sautéing, while dark sesame oil is better for adding flavor to dishes. If you are unsure which type of sesame oil to use, start with a small amount of light sesame oil and gradually add more until you achieve the desired flavor.

Sesame oil is a versatile and delicious ingredient that can enhance the flavor of your dishes, broths, and soups. It has a unique nutty flavor and aroma that can add depth to a dish, and it is a healthy oil to use in your cooking. By using sesame oil sparingly and choosing the right type for your dish, you can take your cooking to the next level and create delicious and satisfying meals.

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