Mars-owned pet nutrition brand Royal Canin has opened its new packaging center in Bhiwandi, Maharashtra.
This development is the culmination of the Memorandum of Understanding (MoU) signed between Royal Canin and the Government of Maharashtra in April 2023.
Cecile Coutens, Global President of Royal Canin, stated, “India boasts one of the most rapidly expanding petcare markets, with a Compound Annual Growth Rate (CAGR) of approximately 15%. Pet owners today are showing growing concern for their pets’ health and happiness, aspiring to offer them the finest nutrition and care available.”
Operating across over 120 countries, the brand manages 16 factories, 2 pet centers, 1 R&D center, and 7 laboratories. The new packaging center in India marks the brand’s 17th facility within its manufacturing network, enhancing its supply chain within the country.
Edible oil manufacturing company BN Group has ventured into the wellness and fitness oil category with the launch of Nutrica, as announced by Anubhav Agarwal, CEO & MD of BN Group.
The company will introduce the brand across three categories: Nutrica Pro Immunity Oil, Nutrica Pro Energy Oil, and Nutrica Pro Fitness Oil enriched with Vitamin C.
“Given the shifting culinary preferences of a growing health-conscious consumer base, we’ve invested INR 95 crore in Nutrica. Our aim is to capture 10 percent market share, resulting in a turnover of INR 500 crore within three years,” he explained.
“By the end of this fiscal year, we’re aiming for INR 120 crore in revenue from Nutrica, which will represent approximately 8-10 percent of our total business,” he added.
The company has invested in the technology for this brand, upgrading its plant and establishing a new production line at its existing Gandhidam facility.
Initially, the brand has formed a network of 600 distributors to retail at 50,000 modern and general trade outlets in markets like Delhi, Chandigarh, Mumbai, and Pune, alongside quick commerce and e-commerce platforms.
“We also have plans to enter Ahmedabad and South India in the near future,” he affirmed.
“We’re positioning the brand as an affordable option within its market, with pricing comparable to competitors. Distribution will be a key driver of our growth. In the first year, we plan to enter 8-10 cities, with plans to expand the network in the future,” he elaborated.
Additional edible oil brands under the BN Group umbrella include Simply Fresh, positioned as a commodity brand, and Healthy Value, specializing in mustard oil.
BN Group concluded the previous fiscal year with revenue of INR 4,500 crore and aims to achieve INR 8,000 crore in the current fiscal year.
Quaker Oats, a brand under the PepsiCo umbrella, has broadened its Protein lineup by introducing a new peanut butter flavor.
Quaker stated that the launch will enable retailers to meet the increasing consumer demand for protein, a vital nutrient essential for everyday wellness.
Furthermore, Quaker Protein Peanut Butter will debut with a new taste-driven visual identity, a design that will also be rolled out across the broader Protein range.
Divesh Parmar, General Manager of Quaker UK at PepsiCo, remarked: “There’s a significant shift in how protein porridge is perceived. It’s now reaching a broader audience beyond just athletes aiming to enhance performance. Protein porridge is becoming a staple for everyday consumers seeking to boost their overall health and wellness. As the leading brand in hot cereals, we’re well-positioned to inject more enthusiasm into the category and assist shoppers in maintaining active lifestyles through our new product development.”
He added, “Our new packaging design aims to attract Gen-Z and Millennial consumers by highlighting the taste qualities of our range, ensuring visibility on shelves. Alongside the taste-focused design, our new packaging emphasizes the health attributes consumers seek, such as ‘high in protein,’ ‘100% wholegrain,’ and ‘natural energy release.’ We believe the revitalization of our Quaker Protein range will contribute to category growth and strongly appeal to the targeted Gen-Z and Millennial demographic, aligning with their lifestyle objectives.”
Quaker’s Protein Peanut Butter sachets will first hit the shelves at Asda stores, priced at £3.50 per pack. Subsequently, they will be introduced to additional grocery and convenience stores.
The Coca-Cola Company has inked a $1.1 billion agreement with Microsoft aimed at enhancing its cloud computing infrastructure and integrating the tech giant’s cutting-edge generative AI capabilities on a global level.
In their five-year “strategic partnership,” Coca-Cola and Microsoft will collaboratively explore new technologies such as Azure OpenAI Service to create “innovative generative AI applications across multiple business sectors,” as stated.
Coca-Cola has transitioned all its applications to Microsoft Azure, with the majority of its major independent bottling partners doing the same.
The beverage company has been utilizing generative AI for almost a year and has already integrated Azure OpenAI Service across various areas, spanning from marketing to manufacturing, and extending into the supply chain and beyond.
“Through our long-term partnership, we’ve achieved notable strides in propelling systemwide AI transformation throughout The Coca-Cola Company and its global network of independent bottlers,” remarked Judson Althoff, Chief Commercial Officer at Microsoft.
“We’re delighted to assist Coca-Cola as it keeps embracing the era of AI & looks to solutions like Azure OpenAI Service & Copilot to drive innovation across all facets of its business.”
According to a statement released on April 23, the owner of Sprite is exploring the utilization of generative AI-driven digital assistants through Azure OpenAI Service. Their aim is to enhance customer experiences and optimize operational efficiency for employees.
“This new agreement further underscores Coca-Cola’s dedication to continuous digital transformation, building upon the successful partnership strategy with Microsoft,” stated John Murphy, CFO of The Coca-Cola Company.
In 2020, the company entered a five-year agreement valued at $250 million to utilize Microsoft’s cloud infrastructure and business software solutions.
Josep Bori, research director at GlobalData, commented, “This represents a classic move in the technology realm, where a major player leverages its dominant position in one product or service to support a nascent offering. Microsoft has previously employed this strategy with products like its Internet browser, media player, and even its cloud computing services.”
“Microsoft has made a significant investment in OpenAI technology and is currently exploring avenues to monetize it. Leveraging key customers like Coca-Cola to explore potential applications from both a technological and marketing standpoint seems like the right approach. For example, if Coca-Cola decides to adopt CoPilot for Microsoft 365 internally after successful testing, it would serve as a strong reference for future sales opportunities.”
Meanwhile, Coca-Cola HBC, a prominent bottler operating across 29 countries in Europe and Africa in partnership with The Coca-Cola Company, has recently been focused on optimizing its operations and enhancing sustainability by investing in technology.
In a recent interview, Mourad Ajarti, the Chief Digital and Technology Officer, elaborated on the company’s collaboration with Microsoft and its utilization of digital twins technology.
He mentioned, “We’re currently implementing a plan to expand into 50 or more product lines by 2027, applying the same digital twin and AI technology across each line.”
“We’re addressing energy efficiency, water efficiency, and changeover efficiency, aiming not only to boost productivity operationally but also to enhance sustainability by reducing energy and water consumption.”
PepsiCo reported robust performance in India, with the snacks segment experiencing double-digit volume growth in the first quarter of CY24. The company’s global quarterly earnings, disclosed on Tuesday, highlighted a high-single-digit volume growth in the beverage segment within the Indian market.
The company also noted an increase in market share within the savory snacks segment, particularly in markets like India, during the first quarter that ended on March 23, 2024.
Discussing the progress of its Africa, Middle East, and South Asia (AMESA) business segment, the company reported a 4.5 percent increase in unit volume within the “convenient foods” category for the region. Notably, South Africa experienced high-single-digit growth, India saw double-digit growth, Pakistan observed mid-single-digit growth, while the Middle East faced a double-digit decline.
Within the AMESA region, the company observed a 2 percent increase in beverage unit volume, largely driven by mid-single-digit growth in the Middle East and high single-digit growth in India and Nigeria. However, this growth was partly dampened by a double-digit decline in Pakistan.
“So far this year, our presence in the savory snack market has expanded in China, India, Brazil, Australia, and several other countries,” the company stated.
In March, Jagrut Kotecha stepped into the role of CEO of PepsiCo India, taking over from Ahmed El Sheikh, who concluded his seven-year tenure leading the India region.
Earlier this month, PepsiCo India disclosed its plans to invest INR 1,266 crore in setting up a new flavor manufacturing facility in Madhya Pradesh for the beverage segment. This marks the company’s second flavor manufacturing plant in India.
Swiggy, a foodtech major, has unveiled its latest marketing tool named ‘Smart Links.’ The new tool allows restaurants to seamlessly guide customers from their social media posts and advertisements straight to their menu pages on the food delivery app.
“Smart Links are personalised links that restaurants can distribute via their social media channels, guiding customers directly to their menu page on Swiggy. This ensures that when you come across enticing content on platforms like Instagram, you can effortlessly place an order from the featured restaurant without the hassle of searching for it on your food delivery app,” the company explained in a statement.
The foodtech giant stated that the new offering enables restaurants to harness their social media following and efficiently convert their online presence into sales. It further emphasized that the new tool assists restaurants in expanding their online presence, boosting order volumes, and ultimately enhancing revenue streams.
The IPO-bound company also stated that Smart Links provides restaurants with insights into customer behavior. Furthermore, they highlighted that the new product tracks user journeys post clicking on an advertisement.
“Through facilitating this tracking, Smart Links assist restaurant partners in evaluating the effectiveness of their social media campaigns more efficiently,” Swiggy explained. “This data empowers them to refine future campaigns, ultimately resulting in more streamlined and prosperous marketing strategies.”
According to the company, the Smart Links pilot has generated over 4 million menu sessions for over 35,000 restaurant partners to date.
“Smart Links will change the game by enabling restaurants to readily access and configure these links—a feature that Swiggy is personalising for free for all of its restaurant partners. This enables them to track each channel’s performance and compare it all in the owner app, which helps them market themselves more successfully, generate real orders, and learn more about their clients’ behaviour on social media and online platforms, according to Deepak Maloo, assistant vice president for supply at Swiggy.
This new offering comes as the foodtech company readies itself for its much-anticipated $1 billion public listing on the stock exchanges later this year. Just days ago, Swiggy became a public limited company, stating that the transition would facilitate fundraising from the public, including through an IPO.
Ahead of its market debut, the company has been optimizing and consolidating its operations. Last week, the foodtech leader merged Swiggy Mall with its quick commerce platform Instamart. Additionally, in March, Swiggy combined its premium grocery vertical, InsanelyGood, with Instamart.
As Swiggy’s plans for a public offering gain momentum, the US-based fund manager Invesco raised the company’s valuation by 19% to $12.7 billion earlier this month.
In the first three quarters of the financial year 2023-24 (FY24), Swiggy recorded a loss of $207 million (INR 1,720 crore). Its net loss for the entire FY23 amounted to INR 4,179 crore.
Boba Bhai, a QSR brand renowned for its bubble tea and diverse food offerings, has secured INR 12.5 crore in seed funding. This investment round was spearheaded by Titan Capital, the venture fund led by the Snapdeal founders, along with support from Global Growth Capital UK.
“We’re building the brand for today’s youth, who follow trends and crave new experiences. I’m confident that foreign cuisines, particularly Korean food, will find a significant market in India,” shared Dhruv Kohli, Founder of Boba Bhai.
Boba Bhai runs 25 outlets in cities such as Bengaluru, Delhi, Hyderabad, and Chennai, all of which are owned by the company.
Kohli mentioned that the fresh funds will facilitate their ambition to grow to 100 outlets within the upcoming 12 months. “Our strategy involves expanding into tier-1 cities within the next six months, followed by penetration into tier-2 and tier-3 cities.”
The company currently boasts an annual revenue run rate (ARR) of INR 24 crore, calculated based on its current performance, with an average monthly order volume of 50,000. Over the next 12 months, it aims to increase this to an ARR of INR 100 crore, as stated by him.
Nearly 70% of Boba Bhai’s orders originate from the company website and online platforms like Zomato, Swiggy, and ONDC, while the remaining 30% are from its physical outlets.
Kohli mentioned that the company plans to use the funds to incorporate cutting-edge technologies into its offerings and to expand its workforce.
The company employs around 200 people, including kitchen staff.
According to the company, Boba Bhai holds a significant market share of 90% in the bubble tea industry in cities like Bengaluru.
This funding round is in line with a larger trend wherein many homegrown food and beverage brands are drawing investments from early-stage institutional investors and affluent individuals.
Examples include Haryana-based Pizza Wings, which secured $4 million in funding from Gruhas, a venture capital fund by Zerodha cofounder Nikhil Kamath, along with investments from angel investors such as Sujeet Kumar, co-founder of Udaan. Additionally, Burger Singh’s pre-Series-B round was led by Turner Morrison Ltd, with participation from Homage Ventures LLP. AKU’s, backed by Burger Co, raised funds from Vikram Bakshi, former managing director of a McDonald’s joint venture operating the chain’s outlets in North and East India. Furthermore, Wow! Momo Foods raised INR 350 crore in January from Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund.
Boba Bhai offers approximately 18 to 19 bubble tea flavors. In the coming weeks, it plans to introduce five to six new flavors and expand its dessert offerings.
Bipin Shah, a partner at Titan Capital, expressed, “The team’s dedication to customizing a variety of bubble teas to suit the diverse tastes and preferences of Indian consumers has rapidly propelled its popularity. We are delighted to collaborate with a brand that envisions establishing a significant food brand in India, backed by robust taste, demand, and efficient distribution.”
Adukale, a D2C snacks brand, has secured INR 11 crore (around $1.3 million) in its pre-Series A funding. Force Ventures spearheaded the investment round, with contributions from Aanya Ventures and notable angel investors including Subrata Mitra and Radhika Pandit.
The startup will utilize the capital to invest in manufacturing and research and development (R&D). Additionally, a portion of the fresh proceeds will be deployed to scale up the number of physical outlets, expand the distribution network, and facilitate greater brand visibility.
Established in 2009 by Nagaratna Ravindra, Malathi Sharma, and MS Ravindra, Adukale operates as an omnichannel snacking brand, offering a range of namkeens, blended spices, and instant food items. With a lineup surpassing 75 products, the startup runs over 20 ‘Adukale Experience Stores’ throughout Bengaluru and Mysore.
In addition to its own website, Adukale distributes its products through traditional and modern trade channels, as well as across various ecommerce and quick commerce platforms.
“This investment underscores the brand’s growth potential as a top omnichannel player in its category, showcasing confidence in its future direction. The secured funding will be instrumental in expanding our brand’s channel presence, enhancing visibility, and fostering deeper engagement with our target audience,” stated Vinay Gopinath, Chief Growth Officer at Adukale.
Regarding the fundraise, Karthik Bhat, founder of Force Ventures, remarked, “Our partnership with Adukale reflects a mutual aspiration to lead the traditional snacks category by 2025 and to serve as stewards of Karnataka’s culinary legacy, showcasing it on a global platform.”
This comes at a time when the homegrown D2C snacking space is witnessing intense competition due to the emergence of a number of new startups. Companies like TagZ Foods, Beyond Snacks, and Gladful are creating a niche and catering to a wide variety of customers.
These brands target the Indian snacking market, which, according to reports, is forecasted to reach a staggering size of INR 95,521 Cr by 2032. This presents a significant opportunity for both established players and newcomers in this rapidly expanding sector.
Consequently, the sector has attracted considerable attention from investors. Numerous venture capital and private equity firms have recently supported emerging players within the ecosystem.
In December last year, Farmley secured $6.7 million in its pre-Series B funding round, led by BC Jindal Group. Before that, in November, snacks startup PatilKaki secured funds in a round led by Cap70 Angels.
Indus Valley, a seller of organic and natural beauty products, announced on Tuesday its plan to invest INR 40 crores in marketing and research. This strategic move aims to enhance the brand equity of its flagship product.
Through this investment, the brand aims to boost the visibility of its flagship product, ‘Organic Gel Hair Colour,’ via nationwide advertising and awareness campaigns. Additionally, the company plans to expand into South Indian markets by partnering with influencers, utilizing vernacular advertising, and introducing customized packaging.
A portion of the investment will also be allocated to Research and Development (R&D) initiatives focused on personal care and beauty products, aiming to meet the specific needs of Indian consumers by harnessing scientific insights.
Shyam S. Arya, Founder & CEO of Indus Valley, stated, “We have an aggressive roadmap designed for the Indian markets, with particular emphasis on our flagship products, which have achieved immense success globally. We are deeply committed to producing skin and hair care products specifically suited for Indian conditions, enhancing the experience of our Indian clients.”
Magicpin, a hyper-local e-commerce company, plans to hire over 150 professionals for its sales and acquisition team, as well as 100 people for the ‘ONDC-magicpin Street Bites’ project.
The initiative, co-financed by ONDC, seeks to deploy ‘ONDC-magicpin Street Bites’ teams to support street food vendors, utilizing a third-party payroll system for facilitation.
“magicpin plans to hire over 150 professionals into its workforce as part of a strategic expansion for its sales & acquisition team, reiterating its commitment to fostering innovation & broadening its merchant network,” the business stated.
The new hires will increase the total workforce to over 550, not including the collaborative team of 100 individuals who will be recruited for the ONDC project.
The company emphasized that the upcoming hires will play a pivotal role in propelling growth and revenue across vital sectors such as fashion, fine dining, beauty, QSR, and budget eateries. Through this hiring drive, magicpin aims to bolster its footprint in various localities, fortify partnerships with businesses, and augment direct revenue channels within the offline sector.
“We are developing a robust locality framework to systematically bring the entire country online. Our goal is to boost the online visibility of diverse businesses in the top 60 localities nationwide, beginning with local establishments like small mom-and-pop stores in sectors such as food, fashion apparel, furniture shops, opticians, and even toy stores,” stated Anshoo Sharma, CEO and Co-founder.
The company aims to achieve break-even by the year 2024.
Furthermore, magicpin will lead the ‘ONDC-magicpin Street Bites’ initiative in collaboration with ONDC (Open Network for Digital Commerce), involving the recruitment of over 100 dedicated staff over the next six months.
“A vendor will be selected based on their responsiveness and ability to adhere to safety protocols and technology. The project’s objective is to enlist 500 FSSAI-accredited street vendors in Delhi and Lucknow within the next 3-6 months,” the statement outlined.
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