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TraceX Technologies, a blockchain-powered agritech platform that enhances supply chain traceability and transparency, has raised USD 1 million in pre-series A funding led by NABARD backed Nabventures Fund. The round also saw participation from Paipal Ventures, an early stage family office investment fund, and from angel investor Sunil Kumar. The newly raised capital will be used towards scaling up operations across geographies in India and in international markets, enhancing the technology platform, foraying into other value chains and building high-performance teams across functions. L-R Founders Anil Nadig and Srivatsa Sreenivasarao Founded in 2019 by Srivatsa Sreenivasarao and Anil Nadig, TraceX…
The National Restaurant Association of India (NRAI’s) Mumbai Chapter held the first edition of the Cloud Kitchen Convention spearheaded by Pranav Rungta, NRAI Mumbai Chapter Head and Director of Mint Hospitality and Rachel Goenka, NRAI Mumbai Chapter Head and Founder and CEO of The Chocolate Spoon Company. The event left an indelible mark on the future of cloud kitchens in India with 40+ distinguished speakers and 700+ attendees from all over the country. It was an exclusive and first-of-its-kind event by the industry, for the industry, where prominent stakeholders from the cloud kitchen space got together and shared extensive…
Prasuma, Indian chilled meat and frozen food brand, has announced the addition of new snacks to its frozen food portfolio. The brand is set to launch frozen Chicken Nuggets, Frozen Veg and Chicken Spring Rolls, Veg and Chicken Mini Samosas, Mutton and Chicken Shammi Kababs, and Mutton and Chicken Seekh Kababs as well as Bacon to its frozen portfolio. The massive category expansion is in line with the organic demand being generated across the country for Prasuma’s products as frozen food becomes a mainstream part of Indian kitchens. With Chicken Nuggets being a brand new addition to the Prasuma brand,…
Swathi Prabhu (cbedit@imaws.org) As there are more people who prefer to eat outside and as it becomes custom for people to have a couple of meals outside in a week, there has been heavy footfall in the restaurants after the said normal life is back. This has created a lot of challenges to the restaurant owners, restaurant owners share their view speaking with Chef Bharath. Some of the leading hoteliers across Tamil Nadu address how the rates on the restaurant menu cards witnessed a spike in the last three months, thanks to various factors including labour, raise in the commercial…
Press Release (cbedit@imaws.org) Japan’s green tea or Ocha as it is referred to locally, is loved across the world for its restorative qualities. Now, EIJ Consulting Pvt. Ltd., is bringing Shizuru’s Ocha green tea to India in three distinct flavours – Sencha, Genmaicha and Gyokuro. Indian green tea aficionados can buy their favourite flavours from Shizuru’s official website. Shizuru sources Ocha from Japan’s tea estates, including the famous ‘Kakegawa Estate’, which is noted for its steamed green tea because it boasts the perfect climate and soil for growing green tea. EIJ Consulting Pvt. Ltd. will market Shizuru’s ‘Ocha’ in India…
Press Release (cbedit@imaws.org) Food robotics company Mukunda Foods has raised $5 million in a funding round led by Zomato, taking the company’s post-money valuation to $30 million. The brand has previously raised funds from Ncubate Capital, Singapore Angel Network, and Indian Angel Network. So far, the brand has raised a total of around $8 million, including the current fundraising. The company plans to utilise funds to expand its reach across QSRs, cloud kitchens and the fine dine segment. It also plans to use a part of the raised capital to introduce multiple ROI based models to help the F&B businesses…
Press Release (cbedit@imaws.org) In a significant boost to alternative food-based health and food tech startups, Bhookha Haathi Hospitality Private Limited (Bhookha Haathi), announced fund-raising of an undisclosed amount of equity capital from Zera Ventures LLP – an Indian subsidiary of a USA-based Venture Fund. Investment banker Intellectual Investments & Financial Services Pvt. Ltd. was instrumental in this deal that valued the B2B2C nutraceutical-tech startup Bhookha Haathi at over USD 1.8 million. Abhimanyu Rishi, Co-Founder, Bhookha Haathi, said, “We are proud and privileged that the first-of-its-kind alternative foods-based health and food-tech startup Bhookha Haathi has attracted funds from marquee American investors…
Akansha Pandey (cbedit@imaws.org) Headquartered in Goa, Wakao Foods is a jackfruit-based vegan food brand launched in December 2020. Today, the brand supplies to over 70 restaurants pan India and has even exported to a few countries as well. Export to Dubai is now on a regular basis. Alongside, the company is building its export line-up to the European market and is on the verge of finalising talks with 20 more countries, said Sairaj Dhond, Founder and CEO, Wakao Foods. Seeing the demand, the company is also eyeing to expand aggressively across the Indian geography through HoReCa distributors, taking the tally…
Akansha Pandey (cbedit@imaws.org) Bail Kolhu, the leading brand of BL Agro, an FMCG company recently launched a television commercial #RasodeMeinMardHai starring Bollywood actors Pankaj Tripathi, Manoj Bajpayee and Nawazuddin Siddiqui persuading men to take up the kitchen duties and share the load. Speaking to Chef Bharath at the event, Ashish Khandelwal, Managing Director, BL Agro highlighted the increasing use of mustard oil in cooking. “Bail Kolhu Kacchi Ghani Mustard Oil is the company’s flagship product commanding 60-65% of the company’s total sales volume. Post COVID, people have become cautious of what they are consuming and how is it going to…
The market is slowly opening up mentions like the omicron is not over, and by both state and Central governments hard impacted various restaurant segments