NEW DELHI, December 12, 2016 /PRNewswire/ —
North India’s leading startup for cold-pressed juices, Fresh Food Concepts has secured $2 million in a pre-series A round led by Angel investors Siddhartha Gupta and Ashvin Chadha. This announcement comes as the Delhi-NCR-based startup moves its flagship product Juice Up into the next phase of expansion.
Available in over 250 locations across Delhi NCR, Juice Up offers a range of 100% raw and fresh cold pressed juices. Speaking about recent developments, Riju Gupta, Founder CEO, Fresh Food Concepts said, “We are on target to hit 75,000 bottles per month so the timing of this investment is very strategic. Delhi NCR has 50 million people, making it bigger than many countries in the world. This gives us a great opportunity to grow 20X in this region alone.” The current round of funding will be utilised for upgrading the production facility, enhancing the sales and distribution network, branding and marketing and to explore new products over the next phase.
After successfully exiting two education-focused startups, Riju Gupta and Chandan Agarwal, who are long time partners since their IIM-Ahmedabad days, have now turned their focus to the clean label segment. Speaking about the impetus behind this decision, Chandan says, “We aspire to create a brand that stands for things that matter – our own health and the health of our environment. Everything we make will always be 100% natural, delicious and nutritionally net-positive, so that our customers are always physically and mentally better off.”
Despite being city-centric due to shelf-life limitations, cold-press juices have become one of the biggest categories in the clean label segment. Commenting on the dynamics in this niche yet fast-emerging space, seasoned investor Siddhartha Gupta says,“Compared to developed nations the clean label segment is largely virgin in India. In the cold-press juice category, each major city has a leading brand or two.” Speaking about Juice Up, Siddhartha added, “Fresh Food Concepts has bootstrapped its way into becoming the market leader in their region. This is a classic case of easy to enter, execution heavy segment. Lots of artisanal brands and quality products can be found across metros, but only start-ups that can scale will remain relevant.”
Siddhartha will be contributing significantly, not just as an investor, but also by bringing his many years of experience into guiding and growing the startup. He holds an MBA from The Wharton School has over 15 years of experience across multiple sectors. Siddhartha is a part of the promoter family owning the Jagran Media group in India and has worked with global consulting giants like Mckinsey & BCG and is an LP with Blume VC (Indias premier early stage fund).
Ashwin Chadha has 15 years of experience in Private Equity and Venture investing, having worked with firms such as General Atlantic, India Equity Partners and Morgan Stanley. He is an early investor in some very prolific startups like Bira91, Wow! Momos, & Wingreens Farms. Speaking about FFC, Ashwin said, “I believe FFC is on the right trajectory and has the right team to become a major player in the clean label segment in the country.”
About Siddhartha Gupta:
Siddhartha Gupta is an entrepreneur with over 15 years of experience across multiple sectors. He is part of the promoter family owning the Jagran Media group in India, but has worked across varied industries, both within and outside the family business. He holds a B.E – Software, from The University of Melbourne and an M.B.A – Finance & Strategy, from the University of Pennsylvania – The Wharton School.
As an angel investor, SG looks for early-stage opportunities where he can contribute significantly, not just as a financier, but also bring his many years of experience into guiding and growing the startup. Last year he invested nearly USD 0.5 Million into Giant Tech, makers of ‘Shouut’, India’s one and only WiFi-based proximity marketing platform. Shouut is currently the ad-tech provider for major WiFi players such as Ozone, MTNL and offers a unique Connectivity – Content – Commerce trifecta solution.
He launched the Jagran print media company’s first foray into television, when he became one of India’s youngest entrepreneurs to launch a national news channel via Jagran’s funding and raising venture capital – Channel 7 JTV. He subsequently engineered a profitable exit from the business, via a JV with the TV18 network, forming one of India’s most viewed and respected News network, encompassing CNN-IBN, CNBC TV18, CNBC Awaaz and his channel, rebranded as IBN7 (recently rebranded as the News18 network, post-sale of TV18 to Mr. Mukesh Ambani).
He has worked with leading global strategic consulting firms – McKinsey & Co. in New York, Boston Consulting Group in Mumbai and Delhi NCR, working across a variety of sectors like CPG/Tech/Finance/Media and has conducted M&A for the Jagran Media Group.
Siddhartha also has produced a Bollywood feature film with Sony Pictures India and Angel invests in young startups, through his professional networks with major funds and platforms like LetsVenture. He is also a Limited Partner at Blume Ventures, one of India’s premier early-stage VCs.
Fresh Food Concepts Secures $2 Million in Pre-series A Funding
