Seed and angel investor Venture Catalysts has started a business with sweets and meals maker and Consumer Packaged Goods (CPG) firm Haldiram’s to expand its overall knowledge and facilitation of venture start-ups in the area of CPG. The FMCG sector which involves the CPG sector, has a stronghold in the Indian market, as the market price is determined at about $50 billion. Moreover, this area has seen a constant growth of 7-10%, taking in the state of the youth population of the nation and the unparalleled possibilities for CPG startups. Moreover, it has promoted the extension of start-up culture in tier-II and III cities of India.
The CPG division, consisting of assets utilized every day by the normal Indian consumer, has conferred notable increase potential in the Indian business, and Haldiram’s tie-up aims to appropriate this occasion. Venture Catalysts schemes to fund in 10-15 CPG start-ups in the following 1-2 years and develop powerful start-up tales such as men’s grooming firm Beardo, feminine hygiene start-up PeeSafe and India’s first herbal energy shot drink FYRE. They have earlier invested in roasted snacks brand Cheerios, Chai Break and restaurant chain The Bohri Kitchen.
Haldiram’s spokesperson stated that “The prevailing generation of Haldiram’s looks ahead to this agreement and is very upbeat about supporting more such collaborations in the future.” Last month, Venture Catalysts stated a business with London-based Well Tech (a health-focused reform program) to start a fitness tech accelerator – HealthCare Catalysts to promote a technological shift in the area of healthcare. Venture Catalyst projects to leverage Haldiram’s expertise in the CPG field including hence making elaborate advances in the CPG sector.
Haldiram’s, which started its journey in the year 1937, in a time where the industry was an unlikely step and not a trend. Today, Haldiram’s is one of India’s most appreciated and admired name among the customers, setting an example and benchmark for other businesses. The purchase amount between Haldiram’s and Cats is private, but the funds have previously been strategically designated to strengthen the team, methods, and presence of VCats to assure the creation of an ecosystem created to suit the requirements of the CPG manufacturing.
