D2C skincare startup RAS raises $1.5M to boost product offerings and expand market reach in India

News

By

-

April 11, 2023

RAS was founded by Sangeeta Jain and her two daughters Shubhika Jain and Suramya Jain

Indian startup RAS, which specializes in farm-to-face skincare and direct-to-consumer hygiene products, has secured $1.5 million in funding from Green Frontier Capital (GFC), along with contributions from its current investors.

RAS, a company that uses natural ingredients to create cosmetics and personal care items, was established in 2017 by Sangeeta Jain and her daughters, Suramya Jain and Subhika Jain. The company is based in Raipur, Chhattisgarh.

In May of last year, Sixth Sense Ventures provided RAS with $2 million in funding.

Commenting on the fundraise, Suramya Jain said, “Our ingredients are cultivated organically in our own farms and/or acquired from local farmers and manufacturers who are well regarded for purity and freshness. The ingredients are researched and formulated in our in-house DSIR-approved R&D facility and manufactured in our government-approved facility followed by packing and timely dispatch to our customers.”

RAS asserts that it has been growing at a rate of 300% year-on-year since its inception.

With the fresh funding, RAS intends to introduce new product innovations and expand its market presence throughout India. The startup plans to hire more employees for its Raipur and Mumbai offices as part of its efforts to further penetrate the beauty and personal care industry in the country.

RAS is also creating multiple touchpoints across India through an omnichannel approach, and is enhancing its brand presence by collaborating with appropriate channels. In addition to its own D2C website, the beauty startup sells its products through various e-commerce platforms such as Nykaa, Amazon, Blinkit, and Flipkart.

Last week, Reliance launched Tira, a new player in the beauty and personal care market in India. Tira has the potential to challenge existing brands like Nykaa and Purplle.

In the last quarter, Nykaa experienced a 71% decline in its consolidated net profit.

Several weeks ago, The Good Glamm Group, a content-to-commerce unicorn, collaborated with actor Akshay Kumar to introduce a direct-to-consumer (D2C) personal care brand for men.

Purplle was bestowed with the unicorn status last year following its $33 million Series E funding round. In addition, we previously reported on Foxtale, a skincare startup that secured $4 million in funding, and WOW Skin Science, which raised $48.02 million.

Towards the end of FY22, funding in the beauty and personal care industry began to decline. Despite this, actors and celebrities have invested in startups within the space. At the end of 2022, Ranveer Singh invested in SUGAR Cosmetics, and Rashmika Mandanna supported D2C company Plum.

According to a study conducted by Research and Markets, the Indian beauty and personal care market is anticipated to grow to $33.33 billion by 2027.

Indonesian cloud kitchen startup ‘Legit Group’ secures $13.7M in funding led by MDI Ventures

News

By

SnackTeam

-

April 11, 2023

0

Indonesian cloud kitchen startup, Legit Group, has raised $13.7 million in a Series A funding round, with MDI Ventures leading the funding and Sinar Mas Digital Ventures (SMDV), East Ventures, and Winter Capital also participating.

In September 2021, Legit Group raised a seed round of $3 million, with East Ventures taking the lead.

With the new investment, Legit Group plans to expand its operations beyond the Greater Jakarta Area. Legit Group, which was founded in 2021, currently operates four food and beverage brands, namely Pastaria, Sei’Tan, Sek Fan, and Ryujin, in over 30 locations primarily in Jakarta.

Legit Group employs a purely cloud kitchen business model, without any physical offline presence. According to the company, since its seed funding round in 2021, it has experienced robust traction, with sales increasing by roughly three times.

“We are thrilled to have a strong group of investors supporting us in creating F&B infrastructure that carries the vision of ‘Food for Everyone’,” Bram Hendrata, Chairman of Legit Group, said in a statement.

Hendrata is not only the founder and CEO of Legit Group but also of Ismaya Group, a leading lifestyle and hospitality company in Indonesia that manages 18 food and beverage brands.

“Through the new funding, Legit Group will strengthen its commitment to bringing more food to various places while continuing to innovate and improve the technology we have to achieve a more efficient operating system,” Hendrata added.

Legit Group has recognized the potential of next-generation food and beverage technology, which emphasizes brand development through the use of technology to maximize profits. This approach is expected to provide a competitive edge in the cloud kitchen market.

MDI Ventures CEO Donald Wihardja said, “Their [Legit’s] ability to develop innovative product and marketing strategies makes MDI Ventures increasingly confident that our support as a major investor will strengthen their position in the F&B industry and accelerate their business growth.”

Statista predicts that by 2023, the Indonesian online delivery market will reach $10.81 billion, with a projected compound annual growth rate of 21.30% between 2023 and 2027. The market volume is set to expand to $23.4 billion by 2027.

The stable demand and promising prospects for online food delivery have spurred the emergence of several cloud kitchen startups in Indonesia. With its lean asset model, cloud kitchen offers advantages such as reduced operating expenses and maintenance costs compared to traditional dine-in restaurants.

Apart from Legit Group, other prominent cloud kitchen companies in Indonesia include Dailybox, which secured $24 million in funding last June, led by Northstar and Vertex, and Hangry, which raised $22 million in April 2022 from various investors, including Journey Capital Partners and Alpha JWC Ventures.

Amul’s MD Jayen Mehta dispels competition rumors with Nandini Milk brand

News

By

SnackTeam

-

April 11, 2023

0

Amidst the raging controversy surrounding the two dairy giants, the head of Amul has clarified that the company has no intention of entering Karnataka’s market to compete with Nandini, the local dairy brand.

Dismissing the reports and allegations made by the Karnataka Milk Federation (KMF), the second-largest milk cooperative after Amul, the top executive of Amul stated that the company had no plans to enter Karnataka’s market and compete with Nandini. The controversy has now taken a political turn in the state, which is approaching an Assembly election next month.

Amul MD Jayen Mehta, said, “Amul and Nandini have strong collaboration and respect for each other. We are not into competition. Amul’s launch of fresh milk and curd ( dahi) is only for a niche market through e-commerce channels and not through a mass distribution network.”

Amul’s recent tweet announcing its expansion into the Bengaluru market has caused a political uproar in poll-bound Karnataka. Opposition parties such as the Congress and the JD(S), along with various Kannadiga groups, have expressed concerns that Amul’s entry would harm the market share of the home-grown Nandini and pose a threat to its business in the state.

The executive contended that the controversy was unfounded since Amul had only announced its plans to sell fresh milk and curd (dahi) through e-commerce channels and not through the mass market distribution network, thereby clarifying that there was no intention to directly compete with Nandini.

“It’s a niche and selective foray, not a full-fledged entry as is being made out,” he said, adding “there would be no competition since Amul would be selling its milk at INR 54 per litre, while Nandini sells milk at a much cheaper price.”

According to the executive, Amul had already commenced the sale of its fresh milk through a niche market approach in select districts of North Karnataka a few years ago, and this had not posed any threat or competition to Nandini in any way.

“Contrary to the reports of competition, we have a strong collaboration. During Covid-19 period, Amul got INR 200 crore worth of cheese from Nandini,” he said. “Moreover, Amul gets ice creams worth INR 100 crore manufactured in the plants of Nandini every year.”

Mr. Mehta further added that Amul and Nandini were both owned by farmers and their commercial partnership aimed to benefit the farming community as a whole.

Third Eye Distillery redefines premium spirits landscape with launch of ‘Short Story’ in New Delhi

News

By

SnackTeam

-

April 11, 2023

0

Short Story – the latest creation from Third Eye Distillery, a distillery based in Goa, is making its way to New Delhi. The goal of the brand is to steer the conversation towards creating a standard for premium spirits. They aspire to establish a benchmark for quality in the industry.

Pankaj Balachandran, a highly acclaimed veteran in the beverage industry, is at the helm of Short Story as its Brand Director.

“There has been a general rise in interest towards cocktail culture and subsequently, a need for quality, true-to-style spirits that can be relied upon. I am excited to have had the chance to work on these spirits personally with the goal of delivering a great drink irrespective of the occasion. We hope to be the brand that bartenders and consumers invariably reach for a drink, be it for themselves or someone else,” he shared.

The creation of Short Story was driven by a vision to offer premium spirits that are synonymous with quality and reliability for every occasion in the Indian spirits landscape.

“Having worked in the beverage industry for over ten years, I noticed the need for a go-to spirits brand in India, something that exists in most international markets. Over the years, this need-gap has propelled the dependency on imported brands for regular consumption. We, at Third Eye Distillery, wanted to offer the Indian spirits landscape with a portfolio of true-to-style essential spirits which set a standard for quality and are an effortless choice be it at home or a bar,” added Pankaj.

Presently, the Short Story portfolio comprises of a classic London dry gin, which boasts a juniper backbone, a triple distilled grain vodka that has been charcoal-filtered, and an Indo-Caribbean white rum that comes with an added geography lesson.

Third Eye Distillery aims to break free from the conventions of the spirits industry with its Short Story spirits. They steer clear of long-winded tales and excessive romanticizing of ingredients and processes to validate their products’ quality.

Short Story will be hitting the shelves of bars and retail stores in Bangalore, Mumbai, and Goa in September, with plans to expand to other regions of the country in the following months.

In Maharashtra, Short Story is being sold at the following prices: Vodka for INR 1650, Gin for INR 1850, and Rum for INR 1950. However, in Karnataka and Goa, all three bottles can be purchased for INR 1950 and INR 1050, respectively. The brand is priced at INR 1000 for Vodka, INR 1100 for Gin, and INR 1200 for Rum in the capital.

Commerce ministry issues draft guidelines for certification of halal meat products

News

By

SnackTeam

-

April 11, 2023

0

In an effort to make the halal certification process more efficient for meat and meat product exports from India, the DGFT, a department of the Ministry specializing in import and export issues, has created guidelines on halal certification.

According to the Ministry of Commerce, meat and meat products can only be exported with a “halal certified” label if they are manufactured, processed, and packaged in a facility holding a valid certificate issued by a Quality Council of India-accredited body. This requirement applies to industry professionals.

The Ministry also stated that the process for exporting meat and meat products without halal certification will remain the same. Additionally, for export shipments to countries with halal regulations, the producer, supplier, or exporter must comply with the importing country’s requirements.

In a notification, the DGFT stated that policy conditions for halal certification of meat and meat products have been established. It further stated that all current halal certification bodies must obtain accreditation from the NABCB (National Accreditation Board for Certification Bodies) for ICAS (Indian Conformity Assessment Scheme) halal within six months.

The notification said, “Meat and meat products shall be allowed to be exported as ‘halal certified’, only if produced, processed, and/or packaged in facilities having a valid certification under the iCAS of the Quality Council of India (QCI), issued by a certification body duly accredited by the NABCB as per the guidelines issued or amended from time to time.”

This notification pertains to products such as bovine meat, fish, chilled meat, sheep and goat meat, sausages, and related items. The ‘India Conformity Assessment Scheme (i-CAS)’ was created with the goal of streamlining the halal certification process for meat and meat products within India.

Until recently, the Indian government did not have a mandatory halal certification system in place, as there was no national regulation governing certification procedures.

As of 2021, the worldwide halal food market was valued at USD 1,978 billion and is expected to grow to USD 3,907.7 billion by 2027. With a substantial Muslim population, India presents significant opportunities for entrepreneurs interested in halal-based ventures.

India’s halal industry is still in its early stages, with no particular labeling mandates for halal food imports. Halal certification is granted by various private companies in India, signifying that the food or products are permissible. Halal India Pvt. Ltd. and Jamiat Ulama-i-Hind Halal Trust are the most prominent halal-certifying organizations in India.

The International Halal Accreditation Forum (IHAF) is a global network of accreditation bodies responsible for implementing halal standards within their respective economies. While countries such as Indonesia, Malaysia, Thailand, the Philippines, the UAE, Pakistan, and others have their own halal standards, there are currently no universal halal standards in place.

The report noted that the swift expansion of the halal industry has resulted not only in halal technologies and advancements but also in halal-related legislation and regulations that are yet to be globally standardized. The halal market now appeals to not only the Muslim population but also non-Muslim consumers due to shifting consumer perceptions.

Domino’s becomes the first QSR to introduce order via CarPlay

News

By

SnackTeam

-

April 11, 2023

0

Domino’s has introduced a new technology that allows for on-the-go ordering through CarPlay, making it the first quick service restaurant in the United States to offer this service.

When using Domino’s app on CarPlay, customers can choose between two options to place their orders: “Tap to Order” or “Call to Order.” With “Tap to Order,” customers can submit either their saved Easy Order or one of their most recent orders. On the other hand, “Call to Order” enables customers to place any order of their preference hands-free, by speaking with a customer service representative.

“Domino’s has been known as the industry leader when it comes to pizza and technology, and we’re constantly striving to continue providing the best experience to customers. That’s why we launched Domino’s app on CarPlay,” said Christopher Thomas-Moore, Domino’s Senior Vice President and Chief Digital Officer.

In addition, he noted that CarPlay provides an alternative to drive-thru service, offering customers the convenience of placing an order from their car without having to wait in a long drive-thru line. This way, customers can order from anywhere they are, without leaving the comfort of their car.

Apart from ordering through Domino’s on CarPlay, customers can also monitor the progress of their order through Domino’s Tracker®. The Domino’s app on CarPlay is part of the brand’s latest AnyWare™ ordering platform, which comprises a range of technologies that enable customers to place orders from any location, using any preferred device. Other AnyWare ordering platforms include ordering via Apple Watch or through text using an emoji.

Cold chain provider Celcius Logistics bags INR 100 crore in funding round led by IvyCap Ventures

News

By

SnackTeam

-

April 11, 2023

0

On Monday, Celcius Logistics, a provider of cold chain solutions, announced that it had raised INR 100 crore in a funding round led by IvyCap Ventures. The startup had previously secured INR 35 crore from its existing investors, which included Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), among others.

With the newly raised funds, Celcius Logistics plans to invest in technological innovations to address the fragmented nature of the cold supply chain and minimize wastage in perishable goods. The company intends to work towards building a more sustainable future through these initiatives.

Celcius Founder and CEO Swarup Bose said, “Having raised more funds, we aim to further expand our operations and build a seamless, and truly unbroken cold supply chain, ensuring food security for all. We are also working towards introducing smart tech innovations to address challenges in the pharma sector.”

Operating in over 350 cities across India, Celcius Logistics has a fleet of over 4,500 reefer vehicles, 107 cold storage facilities, seven distribution centers, and a team of 125 dedicated employees. The company also has over 100 hyperlocal riders who aid in their operations.

Celcius Logistics boasts an impressive clientele that includes Zomato, Zepto, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet. The company claims to have achieved over 20-fold growth last year.

Tej Kapoor, Managing Partner of IvyCap Ventures, will join the board of Celcius Logistics as per the latest announcement by the cold chain solutions provider.

Nightclubs in Delhi seek clarity on operating beyond 1AM amidst lack of permits

News

By

SnackTeam

-

April 11, 2023

0

Despite the measures announced by Lieutenant Governor LG Saxena to improve ease of doing business and boost nightlife in the city, nightclubs in five- and four-star hotels located in Delhi are reportedly still facing hurdles, according to recent reports.

Despite the introduction of a unified portal intended to serve as a single platform for all permits, nightclub owners claim that the option for a 24-hour license is still unavailable. Operators are dissatisfied with the old timings, which mandate that they close their establishments by 1am and stop taking orders beyond 12:30am. As the business typically experiences a surge in activity around 11pm, the early closing is causing a loss of revenue, according to the operators.

Sidhant Sharma, CEO of White Club at Hotel Samrat, recently shared that despite collaborating with an international brand and incurring substantial expenses on rentals and salaries, the club has been experiencing significant losses due to early closures. Although the establishment possesses an excise license to serve alcohol around the clock, a lack of an eating house license from Delhi Police is compelling them to shut down early, as per Sharma.

According to Sharma, the police have not received any notification or order authorizing clubs to remain open late into the night.

Ankit Khilwani of Soho at Hotel Ashok concurred, adding that they were keeping their clubs shut as there was no point in incurring daily losses. “We don’t want to do anything illegal and, as a result, we are staying shut. We hope the website allows us to apply for a 24-hour police licence soon, or an order is passed urgently to every police station across the city that outlets in four- and five-star hotels are 24-hour eating houses. We urge officials to follow LG’s business-friendly policies for us to resume operations and benefit,” Khilwani said.

Delhi Police declined to provide any comments on the issue.

Speciality Restaurants to integrate AI for enhanced growth; Targets INR 1,000 crore revenue within five years

News

By

SnackTeam

-

April 11, 2023

0

In a move to reinforce its position as a dominant player in the Asian food industry, Speciality Restaurants Ltd has announced plans to achieve a revenue of INR 1,000 crore by utilizing technology and revamping its brand, according to a company official’s statement on Monday.

Despite facing headwinds from the Covid pandemic, the multi-brand restaurant chain was able to recover and achieve a standalone net profit of INR 27.67 crore from a turnover of Rs 195 crore during the first half of FY’23, as per recent reports.

“We aim at reaching Rs 1,000 crore revenue in the next five years. Our stated goal is to double our current revenue in four years and triple it in six years, starting from the current level of Rs 400 crore,” Speciality Restaurants CMD Anjan Chatterjee told PTI.

The Kolkata-headquartered company’s key focus will be on “leveraging its key brands and upgrading technology, including the use of AI, to enhance customer experience and drive revenue growth by maintaining EBIDTA of over 25 percent”, he said.

According to Chatterjee, the company’s strategy to achieve its goal involves refreshing its flagship brand, Mainland China, with a new appearance and menu options as the initial step.

“The aim is to increase same-store sales growth (SSSG) and convert Mainland China Mall outlets into Asia Kitchen with the brand refresh,” he said.

The company also plans to ramp up delivery through cloud kitchens and ‘kitchen within kitchen’ set-up, as well as leverage its brand equity to migrate into FMCG ready-to-eat formats, he said.

In addition, Speciality Restaurants intends to introduce a Quick Service Restaurant (QSR) brand and establish two to three outlets in each metropolitan city and one to two in Tier II cities.

Speciality Restaurants has also announced plans to expand its wet-led venture, Episode One, which caters to both GenX and GenY demographics, by opening 2-3 outlets in each metropolitan city and 1-2 in Tier II cities.

The company’s international presence will also be expanded with the launch of Asia Kitchen by Mainland China in key cities globally, he said. The brand has already performed “very well” with two outlets in Dubai and one restaurant in London, Chatterjee said.

Speciality Restaurants was “working with technology partners to increase product shelf life, and expanding its airport and corporate gifting offerings”, he added.

Top 5 food franchises to buy under 10 lakh in India

Business

By

SnackTeam

-

April 11, 2023

0

A franchise system is a business model where an established company (franchisor) grants the right to use its brand, products, and services to another individual or entity (franchisee) in exchange for a fee and ongoing royalties.

In the food industry, franchises are a popular way for businesses to expand their reach and increase revenue. A food franchise typically involves a franchisor providing a franchisee with a proven business model, brand name, recipes, training, and ongoing support. The franchisee, in turn, pays an initial franchise fee and ongoing royalties in exchange for the right to use the franchisor’s name and operating system.

In India, food franchises are distributed through a variety of channels. Some franchisors may establish their network of franchisees, while others may use franchise brokers or consultancies to help them identify and recruit potential franchisees.

Here are the top 5 franchises in India that you can buy for under 10 lakh rupees in India:

Chai Sutta Bar(CSB) – Chai Sutta Bar Private Limited (CSB) is an Indore-based chai and beverage serving company founded in 2016 by Anubhav Dubey and Anand Nayak. CSB was started with the idea of serving the highest-consuming beverage after water in India which is chai (Tea). CSB is serving different types of chai along with many food varieties that are available for everyone and enjoy the vibes and taste. With over 450+ outlets in India, CSB is a great franchise to invest in. The initial investment required to start a Chai Sutta Bar franchise is around 7 to 8 lakh rupees.

Rollacosta – Rollacosta is a popular food franchise that offers delicious rolls, wraps, and sandwiches at affordable prices. With over 50 outlets in India, Rollacosta is a great franchise to invest in. The initial investment required to start a Rollacosta franchise is around 5-6 lakh rupees.

Monginis – A popular bakery and confectionery franchise, Monginis offers franchises for an initial investment of around 5-8 lakh. With over 700 stores across India, the brand has a strong presence and reputation. The company provides training and support to franchisees, making it a great option for those without prior experience in the food industry.

Keventers – Keventers is a famous milkshake brand that has been around since 1925. With over 200 outlets in India, Keventers is a great franchise to invest in if you’re looking to offer delicious milkshakes to customers. The initial investment required to start a Keventers franchise is around 8-10 lakh rupees.

Giani’s – Giani’s is a popular ice cream chain in India that offers a wide variety of ice creams, shakes, and sundaes. With over 200 outlets in India, Giani’s is a great franchise to invest in if you’re looking to offer cold treats to customers. The initial investment required to start a Giani franchise is around 6-8 lakh rupees.

NewsHub