Monday, June 24

Tag: Food

Plant-Based Food Company TMRW Foods Raises $2.6 Million
FUNDING

Plant-Based Food Company TMRW Foods Raises $2.6 Million

VANCOUVER, BC, Aug. 25, 2021-- TMRW Foods, the growing Canadian plant-based food innovation company, announced a seed round investment of $2.6 million. Investors for this fundraising round include Greg Blake (Daiya co-founder), Richard Cooperstein (CEO & Senior Managing Partner of Media Investment Group, former Senior Executive at Disney's Worldwide Television Group, Paramount Pictures & Facebook), Eric Patel (Director at Fresh Prep, former Director at Smart Sweets, former Board Chairman at Daiya), and the Milne Group (owners of Virtuous Pie, Mila and Harken Coffee), who have increased their stake in the company. TMRW's mission is to redefine protein for the masses by creating protein with more flavour, nutrients and variety than any protein availabl...
Deliveroo IPO listing, Valuation could reach around $10 to $12 billion
Market

Deliveroo IPO listing, Valuation could reach around $10 to $12 billion

London, 03/25/2021: UK-based food delivery service Deliveroo said it plans to go public on April 4 via the London Stock Exchange at a price range of $5.35 to $6.32 per Share. The IPO listing could value the company around $10.5 billion to $12.1 billion. The Offer will comprise of new Shares to be issued by Deliveroo expecting to raise approximately $1.4 billion and existing Shares to be sold by certain existing shareholders. Will Shu, Founder, and CEO of Deliveroo said, "We are proud to be listing in London, the city where Deliveroo started. Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work and extending choice for consumers, bringing them the food they love from...
Arkam Ventures- Indian Founders led Investment fund raises $42 Million
BUSINESS

Arkam Ventures- Indian Founders led Investment fund raises $42 Million

New Delhi, 9th June, 2020: Arkam Ventures, a VC fund led by Indian entrepreneurs raises around $42 Million (325 crores) in its first funding round. Arkam Ventures previously known as Unitary Helion looking to support founders with bold and unconstrained ideas that reshape the largest markets in India and positively impact the lives of hundreds of millions of Indians.   "We announced our first close with INR 325 CR in committed capital en route to our target of INR 700 CR for the fund. We have already made two investments with three more to be announced shortly", the company said in a blog post. Indian entrepreneurs like Vijay Shekhar, Binny Bansal, Sanjeev Bhikchandani, Rajesh Magow, Mekin Maheshwari and Kumar Sudarshan, among many others, are supporting this fund. The Arkam ...
ITC acquires 100 percent stake of Sunrise Foods
ACQUISITION

ITC acquires 100 percent stake of Sunrise Foods

Indian business entity ITC acquired 100 percent equity of spices manufacturer Sunrise Foods Private Ltd (SFPL). While the company did not disclose the value of the deal, but sources said it is valued around $237 million to $263 million (around Rs 1,800 crore to Rs 2,000 crore). The company said it has signed a share purchase agreement (SPA) with SFPL which will augment its product portfolio and is also aligned to its aspiration to significantly scale up its spices business and expand its footprint across the country. "Sunrise is a clear market leader in eastern India in the fast-growing spices category with a rich heritage and brand legacy of over 70 years," ITC said in a statement. Over the years, the brand has built a loyal consumer franchise, anchored on a differentiated pr...
Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr
Market

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr

India based casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering. The IPO comprises a fresh issue of shares worth Rs275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the Securities and Exchange Board of India (Sebi). The company may consider a pre-IPO placement to the tune of Rs150 crore. Proceeds of the issue will be utilised to repay an outstanding borrowing of Rs 205 crore in part or full and for general corporate purposes. The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by private equity firm CX Partners, whi...
Zomato acquires Uber Eats India Operation
ACQUISITION

Zomato acquires Uber Eats India Operation

Zomato has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 percent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. "India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success," Dara Khosrowshahi, CEO of Uber, said in the statement. In a regulatory filing to BSE, Info Edge (India) a shareholder in Zomato sa...
Amazon Facing Heat in UK Over Acquisition of Deliveroo
News

Amazon Facing Heat in UK Over Acquisition of Deliveroo

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. Amazon is interested in investing in Deliveroo to give it a larger stake in the fast-growing restaurant delivery business. If the deal were to proceed in its current form, there's a real risk that it could leave customers, restaurants and grocers facing higher prices and lower quality services as these markets develop," said Andrea Gomes da Silva, the authority's executive directo...
Mumbai Based Mumum Co Raises $500000 Angel Funding
FUNDING

Mumbai Based Mumum Co Raises $500000 Angel Funding

Mumbai-based children’s snack foods company Mumum Co raises ₹3.4 crores angel funding from angel investors like Nisa Godrej, Executive Chairman of Godrej Consumer Products Ltd, and Siddharth Parekh and Sumeet Nindrajog, co-founders of Paragon Partners. The food company will use this funding to offer a new product range, team hiring, and expansion in tier 2 cities. Founded by Farah Nathani Menzies & Shreya Lamba in 2017, Mumum Co makes healthy and nutritious snacks for kids combining fruits, grains, and veggies.   “The “very, very real” nature of Mumum Co products comes from our conscious effort to feed our kids with 100% natural and nourishing foods to help their little bodies grow better and faster with no preservatives or additives”, said Shreya Lamba, Co-founder...
Ready to Cook Food Startup Raises $5 Million Series B Funding
FUNDING

Ready to Cook Food Startup Raises $5 Million Series B Funding

Bengaluru based YCook, a ready-to-cook processed package food startup raises $5 million (about ₹33.7 crore) in a Series B funding. The current funding round saw participation from Binny Bansal led venture capital firm 021 Capital, Oikocredit. The existing investor Omnivore also participated in this round. The food company will use this funding to acquire certifications, improve facilities and marketing. The company launches a food product known as Ta-daa with the aim to revolutionize cooking and encourage more people to eat healthy, wholesome, home-cooked meals. The product sells across most of the retail stores like Reliance Retail, Big Bazaar, and Nature's Basket and online ecommerce platform Amazon, Flipkart, Bigbasket etc.. Founded in 2013 by Janardhan Swahar, Vijay Reddy and ...
Foodpanda Strengthens Payment Portfolio With PhonePe Deal
BUSINESS

Foodpanda Strengthens Payment Portfolio With PhonePe Deal

Foodpanda, the food delivery app announced on Tuesday that it will begin a partnership with PhonePe to provide digital payments to every users on their platform. Moreover, Foodpanda users will benefit from a cashback of 50% up to Rs 100 on their first order as a first offer from PhonePe. This partnership will now enable consumers to benefit from several methods of mobile payment such as PhonePe Wallet, UPI (Unified Payment Interface), Credit and Debit cards which can now be used to pay for food orders on the app. “The partnership with PhonePe is in sync with the country’s swift movement towards digital payments considering they are less time consuming, secured and reliable. Like this, we intend to enter several other partnerships in the future to create a robust food tech ecosystem f...
Delhi Based Veeba Foods Raises ₹75 Crore Series D Funding
FUNDING

Delhi Based Veeba Foods Raises ₹75 Crore Series D Funding

Delhi-based food ingredients maker startup Veba Foods raises ₹75 cr Series D funding from Samaa Capital, Belgium-based Verlinvest & others. As per the Regulatory filings, the company Veeba Food Services Private Limited has allotted 691,550 Series D preference shares of ₹10/- at a premium of ₹1074.52 each on March 02, 2018. In 75 crores funding, Samaa Capital invested ₹16 Cr, DSG Consumer Partner invested ₹14.99 Cr, Sixth Sense Ventures invests ₹3.19 Cr and Verlinvest ₹40.79 Cr. Veeba Foods has so far raised ₹201 Cr funding in various rounds of funding involving the same set of investors and some HNIs. The Condiments and sauce maker platform was founded by Viraj Bahl in 2013. The company supplies sauces and dips fast-food chains including KFC, Pizza Hut, Burger King, Taco Be...
Five Major Economic Changes of Middle East to Look Into
MIDDLE EAST

Five Major Economic Changes of Middle East to Look Into

Middle East region has always been a conflicted area ever since its inception. Whether it is the continuously growing mass killing of Syrian refugees, or it is never ending regional, religious issues in Jerusalem, or the threats posed by ISIL groups over Syria and Libya, the problems just never seem to seize. In the midst of all the negative occurrences hovering and circumscribing the middle east, let’s have a sharp look at the positive advances of the economic aspects of the middle east region.   Booming Startups & Tech Middle east is now becoming one of those countries, which is attracting a lot of business with a wide range of start-ups and entrepreneurship enthusiasts. JustMop, Talabat, Souq.com, are some of the expanding start-ups with brilliant innovative ideas, that ar...