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Bajo Foods aiming for 2X growth in the next 8-10 months

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India’s culinary landscape is undergoing a remarkable transformation, thanks to the pioneering efforts of Bajo Foods. With a bold mission to positively impact the health of 100 million Indians, Bajo Foods has set a new standard in the realm of nutrition and taste. Their unique approach centers on the creation of scientifically validated, low-carb products that stay true to the authentic flavors and textures of traditional Indian cuisine.

In a mere two years, Bajo Foods has surged to the forefront of the Keto and Ultra Low Carb food sector, establishing itself as the leading brand. Their remarkable journey is evidenced by top ratings and widespread listings on prominent e-commerce platforms, reflecting their ever-upward trajectory. Fuelled by a significant $2 million in funding, the company is set to achieve its goals of a remarkable 3.5-fold growth within 24 months of the funding; with a strategic emphasis on expanding into Offline Retail, forging B2B partnerships, and serving the healthcare sector, including hospitals.

Recently, in an exclusive interview with Snackfax, Bajo Foods’ visionary Founder, Sudarshan Gangrade, offered insights into the company’s extraordinary success story and the journey that has brought them to their current enviable position. Here are the key highlights from that insightful conversation:

SnackFax: What is the core philosophy of ‘Bajo’ as a brand?

Sudarshan Gangrade: The term ‘Baho’ translates to ‘low’ in Spanish, and this concept forms the core philosophy of Bajo Foods. Our mission is to provide Low Carb Food options enhanced with Protein, Fibre and Good Fats. As a brand, we are driven by the ambition to create healthy, delicious food that can help people combat issues like obesity, diabetes, and heart problems.

One of our prominent sub-brands, ‘Lo Foods,’ embodies our vision of promoting weight loss. As the tagline of this brand suggests, through ‘Lo,’ we genuinely offer low-carb delights to our customers.

In addition to ‘Lo Foods,’ we also have two other sub-brands, namely DiabeSmart and ProteinChef. DiabeSmart focuses on providing food tailored for individuals dealing with diabetes.

When it comes to food choices in India, they primarily revolve around five main ingredients: atta, maida, besan, rice flour, and urad dal. We recognize that three out of these five ingredients are exceedingly high in carbohydrates, while the other two contain moderate levels of carbs. Consequently, India faces various carbohydrate-related health issues. This challenge motivated us to develop a product line that eliminates these concerns. We dedicated significant time and effort to select a niche that caters to the preferences of keto enthusiasts, which has propelled us to be recognized as an Amazon top choice amidst the multitude of products available.

Snackfax: Could you elaborate on your approach to handling the 100 million market index?

Sudarshan Gangrade: When dealing with a market as vast as 100 million, my approach is to segment it based on the latest official statistics released by the Indian government approximately three months ago. According to these statistics, out of India’s roughly 1.5 billion population, there are 105 million officially diagnosed diabetics. However, these numbers only represent the confirmed cases, and the actual number of diabetics may range between 130 to 140 million, which I am conservatively considering. This broadens the market scope to approximately 200 million.

Additionally, India has other health concerns, such as obesity, with 12% prevalence in men and 14% in women. There are also records indicating protein deficiency in 70% of the Indian population. Even if we consider the smallest overlapping segments, this collectively forms a market of around 100 million. Taking into account potential overlaps, the market could extend to over 250 million.

SnackFax: In the realm of food, flavor takes center stage, so how does your brand prioritize taste, and what is your perspective on this as the Founder?

Sudarshan Gangrade: As the Founder, I hold a strong emphasis on the taste and texture of food. Coming from Indore, one of India’s prominent culinary hubs, I have a good understanding of what appeals to a pan-Indian audience.

While many others ventured into the market with trendy products like cold-pressed oils, I chose to start with something more rooted: sev. I recognized that India’s unique strength lies in our steadfast habits, be it our tea preferences or our love for namkeen. This is why we take immense pride in our mixtures, and we’ve received exceptional customer ratings on platforms like Amazon, Flipkart. I firmly believe that achieving such acclaim is not possible without focusing on both taste and the health aspect of our food offerings.

Furthermore, Bajo Foods has not only innovated its product line but also its distribution methods. We are one of the few brands in India that operate both Cloud Kitchens and Packaged Foods. With a presence in over 20 kitchens across four major cities, we have become the largest Low Carb Cloud Kitchen Brand in India, with 17 kitchens. Our next milestone is to expand to 35 cloud kitchens within the next 12 months, targeting cities like Mumbai, Pune, Ahmedabad, and Chennai through the franchise model.

A Health Revolution

Bajo Foods is now poised to take their mission to the next level with an innovative line of Health Foods. This endeavor aims to reduce India’s carbohydrate consumption by a substantial 50 percent, addressing the critical issues of obesity, diabetes, and cardiac-related diseases. This marks a significant step in catering to a vast and underserved health segment, which is predicted to experience substantial growth in the coming years.

In their efforts to expand their outreach to potential customers through offline stores, Bajo Foods and their sub-brand Lo! Foods, DiabeSmart and ProteinChef are at the forefront of advancing health, safety, and innovation, contributing to a healthier and fitter India. Their unwavering commitment to health and safety, especially during challenging times, sets a notable benchmark for others to follow. Moreover, their innovative approach to low-carb foods is gradually transforming the Indian food landscape, one bite at a time.

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Adani Wilmar elevates Durga Puja celebrations in West Bengal with exclusive Fortune Oil packaging

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Fortune Oils

Adani Wilmar Limited (AWL), a leading FMCG company in India, is delighted to unveil exclusive packaging for Durga Puja in West Bengal for its popular oil brands, Fortune Kachi Ghani Mustard Oil and Fortune Soyabean Oil 1-Litre Pouches. By taking this step, the brand proudly takes the distinction of being the first in its category to recognize the cultural importance of the Durga Puja celebrations in the region.

As a brand deeply rooted in its identity as India’s preferred cooking oil, known for its unwavering purity at 100 percent, Fortune Kachi Ghani Mustard Oil and Fortune Soyabean Oil, enriched with Nutrilock action providing five essential nutrients, have consistently gained the trust of households throughout the country. They have become synonymous with home-cooked meals and overall well-being. Nevertheless, through the introduction of special Durga Puja packaging, the brand aims to elevate the festive experience for consumers, celebrating the culinary delights and indulgences that define the Pujo season and festivity. These specially crafted packages capture the festival’s essence, reflecting the spirit of joy and togetherness that defines it, much like the diverse array of culturally significant dishes prepared during this auspicious period.

The brand acknowledges that the essence of Bengal is deeply rooted in its wide range of flavors and traditional dishes that mirror the rich cultural tapestry of the region. Fortune Kachi Ghani Mustard Oil and Fortune Soyabean Oil, enriched with vital nutrients, not only guarantee a harmonious blend of health and taste but also elevate the dining experience by harmonizing with culturally significant delicacies from the area. These include iconic dishes like Beguni, Aloo Bhaja, Luchi Alur Dum, Aloo Posto, and Shukto, among others.

Mukesh Mishra, VP of Sales and Marketing at Adani Wilmar Limited, stated, “Durga Puja holds a special place in the hearts of every Bengali, and the new packaging reflects the essence so closely associated with the festivities. Adani Wilmar encourages consumers to immerse themselves in the spirit of Durga Puja and savor the delightful combination of their products with the essence of ‘Ghar Ka Khana Ghar ka Khana Hota Hai’ (There’s nothing like home-cooked food) during this auspicious period. Each dish, prepared with Fortune Mustard Oil and Fortune Soyabean Oil, will showcase the rich flavors of Bengal, adding a touch of nostalgia to the dining experience filled with delectable food and cherished traditions that flourish within every home.”

Adani Wilmar’s exclusive Fortune Kachi Ghani Mustard Oil and Fortune Soyabean Oil 1-Litre Pouches designed for Durga Puja can be found at retail stores throughout West Bengal. The brand extends a warm invitation to consumers to immerse themselves in the Pujo spirit by indulging in the delightful pairing of their trusted products, thus enhancing the culinary experience during this auspicious festival.

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Pizza Hut extends operating hours in the US, now serving until 2 a.m.

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pizza hut
(Representative Image)

Pizza Hut has expanded its operating hours, now offering service until midnight or even later at numerous branches across the country. As per an official press release, some of their restaurants will remain open until 2 a.m.

“We saw a clear need from our guests to satisfy their cravings for Pizza Hut late at night. So, we decided to meet them where they are by keeping our doors open longer,” Chequan Lewis, COO of Pizza Hut U.S., said in the release. “We’re excited to provide our full menu for delivery or carryout well into the late hours, making it more convenient than ever to enjoy Pizza Hut, no matter the time. It’s all about enhancing the dining experience and ensuring that our guests can savor their favorite flavors whenever they please.”

Pizza Hut runs an extensive network of over 19,000 eateries spanning across 100+ countries.

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Flash Coffee closes its doors in Singapore amid mounting debts and operational challenges

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Flash Coffee
Flash Coffee

Flash Coffee is shutting down its last 11 branches in Singapore, following an announcement that the company cannot sustain its operations due to ‘liability-related reasons’.

Established in 2020, Flash Coffee is a tech-enabled coffee chain appealing to tech-savvy young professionals in search of their daily coffee fix.

According to reports, Flash Coffee has accumulated debts exceeding $10.2 million, owed to over 150 creditors. Additionally, video footage circulating in the media depicts one of the company’s branches closed with a sign attributing the closure to a staff strike resulting from delayed salary payments.

At the same time, a company representative refuted any claims of a strike among the Singaporean staff.

The company stated its intention to concentrate on its operations in Hong Kong, reassuring that its recent operational adjustments will have no impact on its standing in the city.

As per a report in the Singapore-based Business Times, Flash Coffee is allegedly indebted to more than 150 creditors, with a sum exceeding S$14 million (equivalent to $10.2 million). The newspaper also noted that the coffee chain has not disbursed the most recent monthly salaries to its staff in Singapore.

In the past few months, the coffee chain with a tech focus has either temporarily or permanently shuttered several of its outlets throughout the city-state. On October 11, 2023, the company submitted a notice to local regulators, indicating its inability to sustain operations due to its liabilities.

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Chai Sutta Bar to open five new kiosks at Dharamshala Stadium for ICC World Cup 2023

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Chai Sutta Bar

Chai Sutta Bar is making a bold move by opening five new kiosks at the HPCA Stadium in Dharmshala, the venue for the ICC World Cup 2023 matches. This strategic expansion aims to leverage the buzz and fervor surrounding the World Cup event.

According to a company statement released on Wednesday, these kiosks will be in operation during the upcoming five matches, providing a variety of beverages such as tea, cold coffee, and sandwiches.

“Our journey has always been about love for chai. We’re honoured to extend our warm and inviting atmosphere to Dharamshala’s cricket-loving community,” said Anand Nayak, Co-Founder, Chai Sutta Bar.

Established in 2016, Chai Sutta Bar sets itself apart by serving tea in authentic kulhad cups.

With a daily production of approximately 450,000 kulhad teas and a turnover of roughly INR 150 crore, Chai Sutta Bar has a notable presence in over 300 cities across India, contributing to sustainable employment for nearly 500 potter families.

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Arya.ag revolutionizes agricultural lending with blockchain-based loans, ensuring transparency and trust in grain commerce

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Arya
Arya.ag

Arya.ag, India’s foremost and singularly successful grain commerce platform, has introduced blockchain-based agricultural loans. Through its financial technology subsidiary, Aryadhan, warehouse receipt loans will now be executed on their blockchain, ensuring users the utmost confidence and transparency in the process.

Arya.ag has digitized the commodities stored within its warehouses, allowing the platform to now facilitate disbursements on the blockchain.

“Trust and transparency are key values for us at Arya.ag. Porting all disbursements on the blockchain while making payments in under five minutes will mark a significant leap in the efficiency of agri-lending services. The blockchain will ensure unprecedented visibility and assurance to control all physical risks in commodity storage and finance,” said Prasanna Rao, CEO of Arya.ag.

In collaboration with 35 financial institutions, encompassing banks and NBFCs, Arya.ag has established itself as a significant player, overseeing 7.6 million tonnes of commodities and boasting an AUM of 3 billion USD in the previous fiscal year.

“We look at collaborating with other lenders to move commodity-based warehouse-receipt financing onto the blockchain and improve the overall transparency, speed, and reliability of these transactions,” said Rao.

Within the realm of agricultural lending, a central challenge is to instill trust between lenders and borrowers. Arya.ag addresses this issue by leveraging blockchain technology. Arya.ag serves as the reliable custodian for every generated token, preventing duplication of pledges and ownership disputes. When a pledge is made, a smart contract is activated, enabling banks to assign a unique identifier to the token lien. This process ensures the uniqueness of each pledge while affording banks a consolidated overview of all pledged commodities.

Transitioning the lending process to a blockchain offers the dual benefits of accelerating transactions and substantially elevating security and trust among all involved parties. The decentralized characteristics of blockchain guarantee unchangeable record-keeping, rendering data both transparent and exceptionally secure, virtually immune to tampering. This, in turn, results in a notable reduction in fraud and errors. Furthermore, such a transition would establish standardized procedures and documentation, thereby streamlining interactions among diverse stakeholders in the commodity trading and financing sectors.

Arya.ag joined forces with Newrl, a decentralized trust network blockchain, to create this infrastructure. As of now, Arya.ag’s ledger hosts 3.2 million metric tons of commodities spread across 894 warehouses within the blockchain network. Through this endeavor, Arya.ag is forging a realm of swifter and more secure transactions, benefiting not only large enterprises but also, significantly, smallholder farmers. This technology levels the economic landscape, granting them expedited and fortified access to the financial resources necessary for their prosperity.

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India gears up for World Food India 2023, foresees INR 75,000 Crore in investments

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World Food India
World Food India

On Wednesday, the Center announced that the second edition of World Food India, scheduled for November 3-5 in the national capital, is expected to draw an investment exceeding INR 75,000 crore in the food processing sector. The first edition took place in 2017, but consecutive editions had to be canceled in the following years due to the COVID-19 pandemic.

“We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here. For the valedictory function, the President of India will be present,” Minister of State for Food Processing Industries Prahlad Singh Patel said.

India’s food processing sector presents numerous investment opportunities. Notably, certain companies have already expressed their intent to make investment commitments, which will be formally announced during World Food India 2023, he noted.

The minister said, “China has not been invited for the event due to strategic reasons.”

The event is expected to witness the participation of approximately 16 countries, 23 state governments, 11 Union ministries, and central bodies. It anticipates hosting 950 exhibitors and welcoming 75,000 visitors, he mentioned.

The Netherlands will serve as the partner country for World Food India 2023, with a special focus on Japan and Vietnam, he further added.

Additional Secretary in the Food Processing Industries Minhaj Alam, in his presentation, said about INR 642 crore indicated investment has been committed by Britannia, GreenGrahi, Foods and Inns Ltd, St Peter & Paul Sea Food Exports as well as US-based General Mills so far.

A verbal investment commitment has been received from Swiss-based Buhler Group, US-based Mondelez and Coca Cola and UAE-based Lulu Group, he said.

“We are expecting to cross INR 75,000 crore investment this time,” Alam told PTI on the sidelines of the press briefing.

Asked about the status of investment received in the first edition of the World Food India, the official said, “We had received a commitment for an investment of INR 75,000 crore, out of which INR 23,000 crore has come.”

The investments were expected to fructify in three years. Due to the pandemic, there was a delay, he added.

Sanoj Kumar Jha, Additional Secretary in the Food Processing Industries, was also present at the briefing.

The focus areas would be millets, unlocking the potential for growth, positioning India as the global hub, efficient ecosystem, and sustainable development.

The event will see 60 to 80 chefs making the world’s longest ‘Millet dosa’ of over 100 feet in attempt to set a Guinness Record.

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Dabur subsidiaries face multiple lawsuits in the US and Canada over hair-relaxer products

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dabur
Dabur (Representative Image)

Numerous legal actions have been initiated in federal courts throughout the United States and Canada, targeting subsidiaries of Dabur International Ltd. These lawsuits allege that the company’s hair-relaxer products are responsible for cases of ovarian and uterine cancer, as reported by CNBC-TV18.

Dabur International Ltd markets hair straightening and relaxing products under multiple brand names for over-the-counter purchase.

As per the CNBC-TV18 report, there are 5,400 cases involved in multidistrict litigation (MDL).

“Cases filed in the US and in Canada against 3 subsidiaries of Dabur,” the report claimed.

Nonetheless, the company anticipates that the expenses associated with defending the litigation will soon exceed the materiality threshold.

At present, the cases are in the initial stages of litigation, encompassing pleadings and early discovery.

“There are various motions pending as well. Since we are in the initial stage of litigation, any final quantum of claim amount is neither probable nor estimable,” it said.

Hair straighteners and relaxers are promoted with the aim of achieving smoother and more manageable hair. Class action lawsuits have asserted that these products contain endocrine-disrupting chemicals, which are known to raise the risk of developing health issues.

Other major corporations have also faced lawsuits, with consumers claiming the use of hazardous chemicals in their products. Additionally, these consumers have asserted that beauty companies were aware of the presence of these dangerous substances in their products but continued to market and sell them.

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Gurugram-based cosmetic brand Belora nears closure amidst funding struggles and failed M&A attempts

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Belora
Belora (Representative Image)

The Gurugram-based cosmetics brand Belora seems to be on the brink of closure, as it has struggled to secure additional funding or attract potential buyers. Two sources from Entrackr have indicated that the company may be forced to cease its operations.

“Belora tried to raise capital from new and existing investors including Surge but the efforts didn’t materialize,” said one of the sources requesting anonymity. “The company also explored consolidation opportunities in the cosmetic space and held discussions with several players.”

It has been reported by sources that the discussions regarding a potential merger and acquisition (M&A) also failed to culminate in an agreement, raising the likelihood of the company having to shut down its operations entirely.

The imminent shutdown is also evident from the company’s website, which has been non-functional for several weeks. A message on the site states, “The Site is getting upgraded, we will relaunch soon. Thank You.”

Established in 2019 by Ainara and Akaljyot Kaur, the company secured pre-Series A funding from Peak XV Partners’ Surge, DSG Ventures, and several angel investors. It was also a participant in the fifth cohort of the Surge accelerator program.

Surge chose not to provide a comment on the matter, and inquiries sent to Belora’s co-founder and CEO, Ainara Kaur, as well as DSG on Tuesday, remained unanswered.

Belora used to offer vegan and toxin-free makeup and skincare products, including lipsticks, moisturizers, kohl, and eyeshadows. According to the company, it focused on finding ingredients that follow international certifications and claimed to be the first certified makeup brand across Europe and Asia.

Last year, the company stated its presence in 100 stores-in-stores and outlined intentions to open another 100 in the following couple of months. CEO Kaur expressed the goal for Belora to become a INR 500 crore brand in terms of annual run rate over the next 3-4 years. The firm reported an annual revenue of INR 15 crore for the fiscal year 2022, and its FY23 figures are pending disclosure.

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Nirula’s owner, BanyanTree Growth Capital, acquires ‘Angels in My Kitchen’ confectionery chain

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Angels in My Kitchen

BanyanTree Growth Capital, a private equity fund that holds ownership of the food and beverage brand Nirula’s, has recently completed the acquisition of the confectionary chain ‘Angels in My Kitchen’ for an undisclosed amount.

The company opted not to disclose the financial specifics of the deal.

Commenting on the acquisition, Sumedha Singhal, director, Nirula’s and a member at BanyanTree Growth Capital said, “Nirula’s sells icecreams, pizzas, and burgers. Angels is a bakery and confectionery brand. They are both different genres of food. Additionally, Icecream is the bulk of Nirula’s business and is a Holi to Diwali business, while Angels, a confectionary brand, is a Diwali to Holi business. So, the seasonality evens out and complements each other well.”

Established in 2003 in Delhi by Bijoy Majhi and Bhupesh Kumar Jain, Angels currently operates 20 outlets throughout the Delhi-NCR region.

When inquiring about the founders’ role in the company after the acquisition, Singhal mentioned that the existing owners will remain integral to the organization.

Discussing their upcoming strategies, she revealed that the company intends to launch an additional 30 Angels stores by the end of the fiscal year. In addition to standalone locations, the private equity firm also envisions establishing co-branded stores featuring both Angels and Nirula’s. They have recently inaugurated the first co-branded outlet in M Block, GK-II, as well as in Qutub Plaza.

When discussing upcoming deals in the pipeline for BanyanTree Growth, Singhal emphasized that the fund is actively seeking opportunities in the SME sector and in tier 2 and tier 3 cities.

“BanyanTree typically gets excited by companies on a growth trajectory with positive cash flow that has been bootstrapped by the entrepreneur and they are the first outside investor,” she added.

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