Gruhas Gusto kicks off its first cohort with 7 exciting start-ups selected for accelerator program

March 21, 2024

Gruhas, Jubilant Bhartia Family Office, DLF Family Office, and Anthill Ventures have come together to announce the unveiling of the first cohort of Gruhas Gusto – a unique food and food tech accelerator program. This Cohort features seven remarkable startups poised to reshape the landscape of the food and food tech industry. This dynamic initiative will empower these startups with strategic investments, expert guidance, and unparalleled market access opportunities, fostering innovation and sustainability throughout the sector. The program officially launches in Gurgaon’s Quorum on 18 March 2024 with an event that will circulate on introductions, keynote addresses, and extensive networking.

The selected startups cover a diverse range of groundbreaking solutions in areas including food logistics and infrastructure, health foods, technology-powered solutions, agritech and packaging technology, food waste management, FMCG, cloud kitchens, restaurants, QSRs, and retail distribution.

Included in the chosen startups are:

Evolve Snacks: Evolve Snacks specializes in health-focused snacks, with their product catalog comprising nuts, dried fruits, chews, chips, and other snack varieties.

Grabenord: Grabenord is a plant-based gourmet food brand offering a variety of products including vegan cheese, vegan butter, kombucha, apple cider vinegar, and a selection of plant-based cheeses.

The Fresh Press: The Fresh Press is a cold-pressed juice company driven by the belief that everyone deserves a healthy lifestyle. Serving an assortment of delicious and nutritious options such as cold-pressed juices, smoothies, shakes, fruit platters, desserts, and more, all crafted from wholesome natural fruits.

Rio: Rio presents a range of enticing beverages, from the revitalizing BUBBLY FRUIT DRINK (BFD) featuring exotic blends, honey, and Vitamin C for a “better for you” choice, to the energizing BOOM ENERGY DRINK, designed as a value-packed booster catering to 18 to 35-year-olds and rapidly gaining traction in Tier 2 towns.

The Naturik Co: The Naturik Co aims to establish itself as the go-to breakfast brand, featuring a protein-rich, healthy, tasty, and convenient product lineup.

Hemptyful: Hemptyful offers a range of products made from hemp seeds, including dips and cold-pressed oils. These premium offerings are crafted with care to provide a rich source of protein, omega-3, and essential nutrients, promoting a wholesome and balanced diet.

Recipeat: Recipeat is developing a centralized recruitment SaaS platform for restaurants and hotels to expedite staff hiring by threefold, utilizing its AI-driven match-making algorithm and rating system.

Continue Exploring: Investor appetite grows for homegrown food and beverage startups as demand skyrockets

Gruhas Gusto aims to foster innovative solutions for enhanced well-being and dining experiences, offering start-ups extensive support in various business aspects. The program provides scaling opportunities and market access through collaborations with industry pioneers. It will conclude with an event where each startup will have the opportunity to pitch to a room full of sector-specific investors.

Abhijeet Pai, Co-Founder of Gruhas, said, “The Food & Beverage Tech industry is at its inflection of innovation, market size and potential. Gruhas understands that after AgriTech, food and foodtech demand more attention going forward. With this thought, we look forward to supporting this first incoming Cohort of Gruhas Gusto as they navigate the F&B Tech industry and scale new innovations and concepts.”

Sailesh Sigatapu, Partner at Anthill Ventures, stated, “With our extensive experience, our objective is to offer these startups a speed scaling ecosystem like no other that helps expedite their growth while establishing a viable business model. We accomplish this by building a strong product-market fit from the start and refining their business model before assisting them in developing a measurable plan for long-term growth. We provide a venue for founders to bring their vision to life while ensuring that their idea is commercially feasible and financially healthy by delivering a combination of concentrated mentoring, information sessions, and money. We are devoted to assisting each cohort to exceed its potential and making a difference in the industry.”

Continue Exploring: A-Listers Spice Up Their Portfolios with Bold Bets on India’s Booming F&B Startups

The program is further bolstered by strategic partnerships with RPSG Capital Ventures, Omnivore, Caspian Equity, Sathguru Catalysers, Venture Catalysts, Mumbai Angels, Upaya Social Ventures, Lead Angels, FAAD Network, HT Media, Startup Story, Tamada Media, Let’s Influence, StartupNews.fyi, Food Safety Works, Fierce Kitchens, Finance Box, TiE Mumbai, WEQ Technologies, Ciba Goa, Headstart, CoKarma, Indigram Labs, F6S Partner Network, Kanchan Metals, SocialPi, The Mend Packaging, The New Shop.

The second brainchild of Gruhas, Jubilant Bhartia Family Office, DLF Family Office, and Anthill Ventures, Gruhas Gusto comes shortly after the success of their foray into Proptech with Gruhas Aspire rounding off its second successful cohort.

India’s direct selling industry surges by 12% in 2022-23, hits INR 21,282 Crore turnover: IDSA Report

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SnackTeam

March 21, 2024

India’s direct selling industry experienced a remarkable growth of over 12% year-on-year in 2022-23, as revealed by a report released on Wednesday by the Indian Direct Selling Association (IDSA) and compiled by market researcher Kantar. The industry achieved an overall turnover of INR 21,282 crore during this period.

The report highlighted that the sector experienced a Compound Annual Growth Rate (CAGR) of 8.3% over the four-year span from 2019-20 to 2022-23.

According to the report, wellness and nutraceutical products contributed to 73.5% of the industry’s overall turnover, while cosmetics and personal care accounted for 11.3%. The survey noted an increase in the number of active direct sellers, reaching around 86 lakh from 84 lakh in 2021–22.

Continue Exploring: Retail sales show modest 5% increase in February 2024: RAI Survey

Vivek Katoch, chairperson of IDSA, said in a statement, “The direct selling industry is poised to strengthen further in the years to come on the back of a promising regulatory framework by the government.”

In 2022, India climbed to the 11th position in the global direct selling ranking, a notable improvement from its 15th position in 2019.

Direct selling companies distribute their products directly to consumers through their member-sellers rather than using retailers. Companies like Amway, Oriflame, and Herbalife advocate for stricter regulations and clearer distinctions from multi-level marketing schemes, aiming to set themselves apart from fraudulent schemes.

In the middle of last year, the Ministry of Consumer Affairs made amendments to the Consumer Protection (Direct Selling) Rules, 2021, via a notification. These modifications aimed to differentiate between fraudulent pyramid and money-circulation schemes and genuine direct-selling enterprises. However, executives from IDSA have emphasized the necessity for additional clarity in defining the term ‘network of sellers’.

Continue Exploring: India’s retail market set to hit $2 Trillion in next decade: BCG-RAI Report

Jack Daniel’s maker, Brown-Forman, appoints Gaurav Sabharwal as MD for India and South Asia

SnackTeam

March 21, 2024

Brown-Forman Corporation, renowned for producing Jack Daniel’s Tennessee whiskey, has appointed Gaurav Sabharwal as its new managing director for India and South Asia.

Based out of Gurgaon, Sabharwal will report to Eveline Albarracin, vice-president and managing director of Brown-Forman ANZPI (Australia, New Zealand, Pacific islands), IMENA (India, Middle East, North Africa), and Turkiye, as stated by the US spirits and wine maker.

Sabharwal said he “will strive to help consumers in India discover the world of American whiskeys”.

Continue Exploring: Indian alcoholic beverages industry set for margin improvement and sales surge in FY2025: ICRA

“Additionally, the recent acquisitions of Gin Mare and Diplomático, along with much loved Woodford Reserve, provide a big opportunity for accelerating premium brands from our global portfolio as we aim to step change the business in India,” he said in a statement.

Before Sabharwal, Siddharth Wadia was heading the South Asian region until he was elevated as IMENA region head in 2019. Since then, the post has been vacant.

Bringing over two decades of experience in beverage and consumer goods companies, Sabharwal has previously held various commercial leadership roles at Diageo.

Welcoming him onboard, Albarracin said, “India and South Asia have been identified as key emerging markets for us.”

Continue Exploring: AB InBev and PepsiCo collaborate to launch alcoholic 7Up in Canada

Mondelez refocuses SnackFutures on venture capital investments

SnackTeam

March 20, 2024

Mondelez International has redirected its SnackFutures division to concentrate specifically on venture capital investments.

In 2018, the snacks giant established SnackFutures with a focus on three core areas: pioneering new brands and ventures in strategic sectors, revitalizing smaller Mondelez brands with significant growth potential, and collaborating with startup innovators to foster new business ventures.

Through SnackFutures, Mondelez made a series of investments in smaller brands. In 2019, one notable investment was made in the US snacks business Hu Master Holdings, which the owner of Lu biscuits fully acquired two years later.

Continue Exploring: Mondelez International invests in Spanish startup Pack2Earth for sustainable packaging solutions

The unit subsequently shifted its focus towards VC-style investments and product launches. This included the introduction of CaPao snacks and Ruckus & Co., a line of lunchbox smoothies for kids.

In 2021, Mondelez launched an accelerator called CoLab to collaborate with emerging businesses in the sector the Cadbury maker referred to as “well-being snacks”. CoLab operated within the SnackFutures framework.

The US giant opted to assign SnackFutures the specific task of investing in “scale-up” companies and phased out CoLab. Additionally, the unit was rebranded as SnackFutures Ventures.

“SnackFutures was created five years ago to drive strategic growth for the company and that is still the case,” Richie Gray, the head of SnackFutures, said.

Gray said the focus of the unit was changed to support Mondelez’s overall efforts to “strengthen our core – chocolate, biscuits and baked snacks – as well as expand into new categories, for example, wellbeing [and] personalised nutrition”.

Continue Exploring: Mondelez International reports strong Q4 sales surge, but volume decline spurs a 2% share drop

He added: “With this in mind, we shifted to being corporate-venture capital hub focused mostly on investing in scale-up, fast-growing companies in our core while still staying close to emerging brands, businesses and technologies.”

Gray said Mondelez would not disclose if it had made changes to the level of investment it is willing to put toward the SnackFutures Ventures unit.

From Olipop to Oreo: Brands roll out retro-inspired products to tap into consumer nostalgia, says GlobalData

SnackTeam

March 20, 2024

Retro packaging — (Representative Image)

Recent findings from data analytics company GlobalData indicate that brands are introducing products and packaging with a retro flair, likely influenced by a growing sense of nostalgia among consumers.

GlobalData reports that the aftermath of swift social and economic shifts following the Covid-19 pandemic has spurred heightened nostalgia among American consumers for the past. This has prompted brands to reintroduce products and packaging that evoke a sense of familiarity.

According to Meenakshi Haran, the principal consumer analyst at GlobalData, nostalgia frequently evokes sensory experiences for consumers, stirring sentimental emotions tied to a particular time or place they’ve encountered in the past.

Continue Exploring: Amcor and Mondelēz International collaborate to introduce recycled plastic packaging for Cadbury Chocolate products

Haran said, “They seek familiar flavours, fragrances or products that take them back to that time or place. Americans, in particular, are feeling nostalgic about the ‘good times’ and looking for familiarity in the food and drinks products they choose, as affirmed by 67% of respondents in GlobalData’s consumer survey.”

She explained that brands are tapping into this by reintroducing old-style flavours and products, adding, “Olipop, for instance, claims to be a new kind of soda in retro cans, reminiscent of nostalgic packaging designs, while Spindrift, a sparkling water brand, introduced two new variants inspired by the 1990s when purple grape-flavoured products were popular. Similarly, Oreo debuted its new limited-edition “dirt cake” flavor that claims to be a spin on the classic childhood-favorite, mud-pie dessert.”

Amidst the plethora of new product releases vying for consumer attention, Haran suggests that companies prioritize setting their offerings apart and ensuring they catch the eye on store shelves. Despite the enduring appeal of retro products among American consumers, brands should aim for a harmonious blend of nostalgia and meeting sensory expectations for both visual and taste experiences. This approach can cultivate repeat purchases and boost sales.

Continue Exploring: Indian consumers make healthier choices with two-color front-of-pack labels, new study finds

Little Spoon expands into baby snack category with launch of organic Baby Puffs line

SnackTeam

March 20, 2024

Little Spoon, a US-based children’s nutrition brand, has ventured into the baby snacks category with the launch of its new organic Baby Puffs line.

Little Spoon’s Baby Puffs encourage self-feeding and aid in the development of fine motor skills in babies over six months. They come in two flavors and shapes: Kale Apple Curls and Banana Pitaya Rings.

The puffs were developed in collaboration with experts, including a speech pathologist, and designed to be larger in size compared to existing products on the market. This ensures that infants can maximize their skill-building experience while learning to pinch, grasp, and chew.

Continue Exploring: Yoga Bar diversifies into baby care market with new brand, Yoga Baby

The product line comprises only six organic, plant-based ingredients and is devoid of gluten, rice, seed oils, added sugars, and the nine main allergens. The shapes are crafted with meltability in consideration, intended to be effortlessly grasped, quick to dissolve, and soothing on tender, teething gums.

Angela Vranich, co-founder and chief product officer at Little Spoon, expressed that the company has long been considering entering the snacking segment. This latest launch marks its debut in this category.

ToniAnn Loftus, speech pathologist at Seaport Speech and Feeding, commented, “These puffs are so helpful when it comes to promoting functional feeding skills for little ones. The combination of textures, shapes, and yummy flavours make them a great snack for young eaters.”

Continue Exploring: Ayurvedic babycare startup BabyOrgano raises $150K in pre-seed round led by DevX Venture Fund

Agri-supply chain startup Bull Agritech raises $100K

SnackTeam

March 20, 2024

Bull Agritech founders Hit Desai & Divyajeet Chauhan

Bull Agritech, an agri-supply chain startup, has secured $100,000 in a new funding round from Akassh Patel and Nilesh Bhalala (BuilditIndia founders), Shashin Patel (SCC Infrastructure, MD), and others.

The company has secured a total of INR 1.5 crore in the last four months as part of the pre-seed round.

Established by Hit Desai, Bull Agritech is an agri-supply chain startup focused on creating a commodity supply chain by using technology and their network of farmers and commodity processors.

Continue Exploring: Bull Agritech secures $100K in pre-seed funding led by PedalStart accelerator for agri-supply chain expansion

The newly acquired funds will be utilized by Bull Agritech to expand into new regions, double the number of collection centers, and broaden commodity portfolios. Additionally, the company aims to onboard talent to drive operational efficiency and innovation.

Speaking on the occasion, Hit Desai, Founder, Bull Agritech, said, “The funding comes at a time when we are poised for strategic growth. We will be deploying the funds to expand into new regions, double the number of collection centers and broaden commodity portfolio. We will build scalable internal technology for efficient data analysis and onboard top-tier talent to drive operational efficiency and innovation. The current non-perishable agri-trade system is inefficient and outdated, costing farmers valuable income. We believe social technology holds the key to unlocking a new era of market access, price discovery, and logistical efficiency, directly benefiting farmers.”

Continue Exploring: Former Swiggy executive Kedar Gokhale launches agritech venture ‘Orbit Farming’ targeting mid-sized Indian farmers

Reinforcing these views and elaborating on Bull AgriTech’s approach, Mr Akassh Patel, CEO, BuilditIndia, said, “Bull Agritech has distinguished itself with its forward-thinking approach and exceptional vision for transforming the agricultural supply chain. We are deeply impressed by the dedication and ambition demonstrated by the founders, whose innovative model for oil seeds has already garnered significant acclaim.”

In the last 24 months, Bull AgriTech has facilitated trades worth 35 crores, with over 6000 farmers opting to sell their crops through Bull rather than relying on local APMCs. Demonstrating an impressive 200% year-on-year growth, the company is committed to sustaining a 25% month-on-month growth rate. Additionally, Bull AgriTech is exploring opportunities in less penetrated farmer financing solutions.

Subway teams up with McWin to expand presence across Europe

SnackTeam

March 20, 2024

Subway has collaborated with McWin Restaurant Fund to bolster its footprint in France, the Czech Republic, Luxembourg, and Belgium.

Additionally, it aims to enter into new master franchise agreements for these regions with McWin affiliates to facilitate additional growth.

The agreement grants McWin exclusive rights to expand Subway restaurants in these four countries, overseeing the management of nearly 400 existing franchises, and initiating approximately 600 new outlets within the next decade.

Continue Exploring: PepsiCo to replace Coca-Cola as exclusive beverage provider for Subway in the US

The collaboration is anticipated to more than double Subway’s presence in France and Luxembourg, while significantly enhancing its footprint in Belgium and the Czech Republic.

Subway EMEA president Carrie Walsh said, “With extensive market expertise and a proven track record of successfully growing and developing QSR brands across Europe, we’re looking forward to working with the McWin team to elevate the guest experience and bring even more guests their favourite subs.”

The agreement with McWin is scheduled to be finalized in the second quarter of 2024.

McWin Capital Partners Foodservice partner and head Harry Goss said, “We are delighted to partner with Subway, an iconic global brand that is well-positioned to meet the increasing consumer demand for convenient, affordable and better-for-you options.

“We will leverage our expertise, platform and network to support Subway in accelerating its growth across these markets over the months and years ahead.”

Continue Exploring: Subway debuts eco-friendly uniforms made from recycled plastic bottles

Last month, Subway introduced the Chocolate Chip Footlong Cookie to its menu in Canada for a limited time.

Served warm, the chocolate chip-filled cookie will complement Subway’s footlong sandwiches.

The Chocolate Chip Footlong Cookie first appeared in the US earlier this year.

AB Akola Group to acquire minority stake in OMG Bubble Tea for €1.9 Million

SnackTeam

March 20, 2024

AB Akola Group is acquiring a minority share in Lithuanian beverage startup OMG Bubble Tea for €1.9 million.

Established in 2022, OMG Bubble Tea specializes in crafting natural bubble tea. The company exports roughly 95% of its production to countries including France, Germany, Great Britain, Austria, and others. With a workforce of 143 employees, it operates a production facility situated in Panevėžys.

AB Akola Group is said to hold “the largest agricultural and food production group in the Baltics,” employing 4.9 thousand people.

Continue Exploring: Bubble tea giant Gong Cha set to expand across America with two new franchise agreements

Mažvydas Šileika, chief financial officer of AB Akola Group, said, “OMG Bubble Tea is a growing start-up that has increased production and revenue several times over the year. The management and the team are energetic, the production processes are being fine-tuned, and the sales progress has been made for further successful expansion.”

“In 2024 and 2025, exponential growth is foreseen for the start-up – measuring in times, not in percentage. The global bubble tea market size was valued at 3 billion US dollars in 2022 and is projected by experts to grow by 6.3% annually until 2032, while the European market will grow by 8% annually. Therefore, the start-up’s outlook is promising.”

He added, “We believe this is a worthwhile investment for us, as the consumption of beverages is growing globally, especially among young people, and the prospects in this area are great. Our business strategy is to increase the weight of food products in the group’s overall business, thereby increasing the group’s overall profitability and value. We are not only investing in increasing production capacity but also looking for small, growing producers. This is by no means our last investment in beverage start-ups.”

Jonas Karosas, director of OMG Bubble Tea, commented, “Our product is aimed at children and young people, and it evokes good emotions. Global trends show increased demand, and we want to take advantage of this and expand our volumes. The kick-off, as in any production, was not easy, but we have still grown at a very fast pace since we started the company. The Akola Group’s investment will allow us to increase this pace even further.”

Continue Exploring: PepsiCo takes sparkling water to new heights with Bubly Burst lineup

Fostering togetherness: Hearty Mart’s Falooda Mix elevates Ramadan gatherings with flavor and generosity

SnackTeam

March 20, 2024

Ramadan holds deep spiritual significance for Muslims globally. Each year, this sacred month is observed through fasting from dawn till sunset, serving not merely as a physical exercise but also as a pathway to profound introspection. It’s a time when Muslims devote themselves more fervently to prayers and extend acts of generosity through charitable giving.

One of the most heartwarming aspects of Ramadan is the community iftaars—the evening meals to break the fast—where families, friends, and sometimes even strangers come together to share food and companionship. These gatherings, along with community prayers, play a pivotal role in strengthening the bonds of kinship and community. Moreover, Ramadan offers a unique opportunity for individuals to introspect and cultivate a closer relationship with their faith, aiming to elevate their spiritual experience, and fostering interfaith camaraderie.

Within the context of Ramadan, food transcends its basic nutritional value to become a powerful conduit of cultural expression. Sharing a meal, especially after a day spent fasting, deepens a sense of gratitude and kinship among participants. This shared experience at the iftaar table not only fosters a warm atmosphere but also allows individuals to more profoundly appreciate the blessings they have. As a result, certain foods have assumed significant cultural importance during Ramadan.

Continue Exploring: FMCG companies and Kirana stores gear up for summer: Dairy and beverage sales spike across India

Dates, renowned for their rich nutritional profile and symbolic significance, are a cornerstone of breaking the fast, marking the beginning of iftaar with a blend of sweetness and tradition. Haleem, a hearty stew featuring meat, lentils, and wheat, takes center stage during the iftaar meal, providing not just nourishment but also a deep sense of contentment through its slow-cooked flavors. For Sehri, the predawn meal, Paya emerges as a preferred choice. Together, these dishes not only fulfill the physical requirements of fasting but also enrich the cultural and spiritual experience of Ramadan.

Among the myriad of delicacies adorning the iftaar spread, Falooda stands out for its uniquely refreshing allure. Following hours of fasting, particularly on hot days, a serving of Falooda provides more than just hydration; it represents a ritual of rejuvenation and delight. Infused with ‘tukhmari’ (basil seeds) and its distinctively cool flavor, it delivers a soothing and revitalizing sensation, offering a moment of respite and invigoration.

Recognizing the deep-rooted cultural significance, Hearty Mart strategically releases its Falooda mix each year in preparation for Ramadan. This endeavor transcends mere business tactics; it signifies an appreciation for the profound importance of communal gatherings and experiences during this sacred period. Their Falooda mix has evolved into a sought-after commodity, cherished not only for its flavor but also for the nostalgic sentiments it stirs. Through such culinary customs and the endeavors of enterprises like Hearty Mart, the spirit of Ramadan is honored, fostering moments of happiness, contemplation, and unity.

Nadeem Jafri, Founder & Chief Mentor, Hearty Mart, shares, “Falooda is traditionally enjoyed during Iftaar, a time when individuals seek to re-energize after a day-long fast. With Good Time Falooda mix, we aim to position our brand as the ideal choice for this occasion, offering a refreshing and revitalizing experience. This strategic alignment of our brand with the Iftaar occasion enhances the product’s recall value.”

The appeal of Falooda Mix extends beyond its refreshing flavor; it serves as a crucial element in charitable efforts during the holy month. Driven by a spirit of generosity, individuals frequently turn to Hearty Mart to compile special kits containing a selection of their finest spice blends, essential food items, and, notably, multiple packages of the beloved Falooda mix. The purpose behind these kits is profound: they are designed as gifts for those in need, ensuring that less fortunate families can partake in the nourishing and celebratory aspects of Ramadan. By including the Falooda mix, these kits accomplish more than providing sustenance; they create moments of shared joy and solace, fostering a more inclusive and communal observance of Ramadan. Through this considerate initiative, Hearty Mart and its supporters extend a hand of fellowship and compassion, embodying the true essence of Ramadan’s spirit of generosity.

Continue Exploring: Investor appetite grows for homegrown food and beverage startups as demand skyrockets

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