Parag Milk Foods has expanded its whey protein range under the Avvatar brand, focusing on consumer product personalisation as part of its new marketing strategy, according to Akshali Shah, executive director of Parag Milk Foods.
Authum Investment & Infrastructure, along with Mahi Madhusudan Kela, will acquire a 46.85% stake in Prataap Snacks, the Indore-based packaged foods company known for its Yellow Diamond snack brand and Rich Feast sweet snacks. The͏͏ deal,͏͏ valued͏͏ at͏͏ INR͏͏ 846.60͏͏ crore,͏͏ involves͏͏ a͏͏ share͏͏ purchase͏͏ agreement͏͏ signed͏͏ on͏͏ Thursday͏͏ to͏͏ acquire͏͏ approximately͏͏ 1.02͏͏ crore͏͏ equity͏͏ shares͏͏ from͏͏ three͏͏ private͏͏ equity͏͏ promoters,͏͏ as͏͏ disclosed͏͏ in͏͏ an͏͏ early͏͏ morning͏͏ filing͏͏ by͏͏ Prataap͏͏ Snacks.
Peak XV Partners Growth Investments I, Peak XV Partners Growth Investment Holdings II, and Sequoia Capital GFIV Mauritius Investments—hold͏͏ stakes͏͏ of͏͏ 2.48%,͏͏ 34.65%,͏͏ and͏͏ 9.72%,͏͏ respectively.
Candytoy Corporate, a prominent manufacturer of candy toys, has teamed up with Reliance Retail to supply confectionery toys to 1,400 of the retailer’s stores, announced a senior company official. The Indore-based firm signed the agreement with Reliance Retail a few months ago, according to Founder Director Gaurav Mirchandani.
UAE-based Lulu Group International plans to establish modern food processing and logistics centres in Andhra Pradesh, alongside hypermarkets and a shopping mall, according to Chairman and Managing Director Yusuffali MA.
Compass Group India, a subsidiary of British multinational Compass Group PLC, aims to double its business in India every three years, viewing the country as a vital growth market. Additionally,͏͏ following͏͏ its͏͏ recent͏͏ acquisition͏͏ of͏͏ ICS Foods, the͏͏ company͏͏ is͏͏ actively͏͏ seeking͏͏ further͏͏ opportunities͏͏ to͏͏ expand͏͏ its͏͏ presence,͏͏ according͏͏ to͏͏ Managing͏͏ Director͏͏ Vikas͏͏ Chawla.
As the food delivery industry in India continues to boom, Arjun Kapoor backed Foodcloud.in, a platform connecting home chefs to consumers, has ambitious plans to revolutionize the sector. Despite operating in a competitive sector, Foodcloud.in achieved profitability last year, an impressive feat for a food delivery platform. The company’s fresh food business is active in Delhi-NCR, Mumbai, Kolkata, and Jaipur, with plans to expand further. The platform currently connects with about 5,000 home chefs and aims to grow this number to 50,000 in the next two years.
“We achieved profitability last year, which is a significant milestone. The platform is witnessing 100-150% year-on-year growth. We also launched a new line of direct-to-consumer (D2C) homemade packaged food. This has played a crucial role in expanding our brand’s reach, allowing us to enter new cities and connect with even more customers,” said Co-Founder and CEO Vedant Kanoi.
Foodcloud.in made it easier for chefs to focus on their craft while the company handled logistics and operations. It also collaborates with the food authorities such as FSSAI to develop policies. “We worked closely with FSSAI to develop policies for home chefs, ensuring that everyone on our platform is registered and trained,” Kanoi said. This focus on quality and compliance helped Foodcloud.in stand out in the crowded food delivery market.
Expansion Plans with Technology
Kanoi shared insights into the company’s growth trajectory and future expansion ambitions. The brand has already reached 70 to 80 cities in India. They are also exploring the global market. “Our shelf-stable, preservative-free products can be delivered nationwide, and we’ve even expanded into Dubai to test the waters.Overall, we’re delivering around 40,000 to 50,000 meals per month across all our offerings, and we’re excited to continue scaling our business,” he added.
In the next six months, Foodcloud.in is set to launch new features and programs designed to take the platform to the next level. “We are making some adjustments in our business model and launching an integrated training-cum-SaaS platform,” Kanoi revealed. This new platform will allow Foodcloud.in to onboard home chefs from regions they have yet to reach, significantly increasing their footprint across India.
“We are continuously working on integrating more technology into our operations. For instance, during the pandemic, we experimented with AI-driven video and camera systems designed to monitor and ensure hygiene standards in kitchens. While we haven’t yet rolled this out on a large scale, we believe that in the coming months, we’ll be able to develop more advanced hygiene solutions. Our goal is to set a standard for hygiene that surpasses even that of traditional restaurants,” Kanoi informed.
Additionally, the company is working on an automated logistics system that will handle hundreds of orders with minimal manpower, further reducing costs. With these advancements, Foodcloud.in expects to onboard 12,000 home chefs within the next year and reach 35,000 to 50,000 within two years.
Road Ahead
While major food delivery brands like Zomato and Swiggy have dabbled in the home chef market, Kanoi believes Foodcloud.in has an edge. “The DNA of these organizations is different. They didn’t plan to be home chef aggregators,” he said. Foodcloud.in’s focus on home chefs and their unique needs gives it a competitive advantage.
Looking ahead, Kanoi is optimistic about the company’s growth prospects. “We’re pushing to take this platform to 10-12 cities, not just two or three,” he said. With plans to launch new logistics systems and training programs, Foodcloud.in is poised for exponential growth.
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